BlueRock boosts Q1 output, sales at SA mine

BlueRock Diamonds produced 4,643 carats in the first quarter of the year from its Kareevlei diamond mine in the Kimberley region of South Africa.
This was a growth of 32% compared to 3,507 carats in the first quarter of 2021.
“The Q1 2022 production figures are encouraging as they were achieved in a period that once again saw extremely wet weather conditions that have persisted into April,” said BlueRock executive chairperson Mike Houston.
“As mentioned in our announcement dated 31 March 2022, we are concentrating on mine development to ensure a consistent supply of ore, which requires a significant increase in waste mining in the short and medium-term.”
He said although mined tonnes achieved are significantly higher than the comparable period in 2021, the rain has delayed progress in this area impacting on quality ore supply in April.
Meanwhile, BlueRock sold 5,887 carats in the first quarter compared to 4,004 carats, the previous year.
“The market for Kareevlei diamonds has remained extremely positive throughout the quarter, with carats sold up 47% and prices at an exceptional average of $686 per carat driving strong revenue flows,” he said.
Meanwhile, Houston said the outlook remains firm with the supply side, which was already tight before the current situation in Ukraine, further tightened with the uncertainty of the supply of quality rough diamonds.

Mathew Nyaungwa, Editor in Chief of the African Bureau, in Zimbabwe, Rough&Polished