BlueRock Beats the Wet Weather Blues
January 03, 23
(IDEX Online) - BlueRock Diamonds says it has now overcome the problems that cut its processing production by over a third during deluges last April and May.
The unexpected rainfall at its Kareevlei mine, in South Africa, hampered access to high-quality kimberlite, forcing it to use lower grade ore and delay roll-out of its mining development plan.
But in a trading update the London-based AIM-listed miner confirmed it was now back to normal production levels, even during a wet October and November.
Diamond prices fell during Q4 2022, BlueRock said. That was partially offset by higher production, albeit at a lower average grade.
The miner says it sold a 10.19-cts diamond for almost $102,000 at its November tender.
Pic of Kareevlei courtesy BlueRock