JSE-listed Rockwell Diamonds produced 5,795 carats in the fourth quarter ending February this year, compared to the 6,453 carats produced a year earlier.
Company chief executive James Campbell said in a statement that the 10 percent decline in total carat production was a result of placing Holpan on care and maintenance as well as the discontinuing of the bulk sampling programme at the Klipdam Extension property.
“[These] decisions which were commercially based and had a positive impact on the company's overall viability," he said.
The South African-focused mid-tier diamond miner said it also accrued $6 million in revenue during the period under review, at an average price per carat of $1,041.
This was, however, lower than the $9.228 million recorded during the same period in 2011.
Campbell said the company benefited from selling the inventories it had accumulated towards the end of 2011, into a stronger market as diamond prices continued to recover throughout the quarter.
"Of particular benefit to Rockwell is the sustained growth in demand for investment diamonds, which comprise a large proportion of our production profile and for which we are known," he said.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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