Rockwell Diamonds Inc. Recovers 287-Carat DiamondNovember 29, 13
The miner said that as the stone is the fifth large diamond to be recovered from the operation in the past three months, it further reinforces management's decision to focus operations in Middle Orange region.
The diamond will be sold into the beneficiation joint venture with Steinmetz Diamonds at market value with Rockwell participating equally in the added value of the polished diamond at sale.
Commenting on the recovery of this large stone James Campbell, CEO and President said: "This 287-carat diamond is only the second rough diamond exceeding 200 carats produced by Rockwell in its eight year history and is one of the largest stones produced in the Middle Orange in recent times.
"The stone was recovered from the Saxendrift Extension property acquired in March 2012 and follows the recovery of four plus 100-carat diamonds in September 2013. These results show that our plants are correctly geared for the recovery of large diamonds that characterize the Middle Orange River region. This is also a strong validation of our strategy to grow our alluvial production volumes to 500,000m3 per month in order to produce large stones more regularly and improve Rockwell's quarterly earnings performance."
"At our other operations, the Saxendrift Hill Complex Bulk X-ray operation is performing well with solid results. At Niewejaarskraal, ramp up operations are ongoing, with the implementation of an in-field screen. We are on track to commission a Bulk X-ray system early in 2014, which was procured on a rental basis," he added.