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Rough Prices Drop at BlueRock

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JOSHUA FREEDMAN • 02-01-2023

BlueRock Diamonds saw a decrease in prices but an increase in production at its Kareevlei mine in South Africa during the fourth quarter, it said in a recent trading update.

The higher output offset the lower rough prices, though mining grades also declined, the company reported December 15. At a tender in November, the miner sold a 10.19-carat diamond for $101,947, an 8.77-carat stone for $68,000, and an 8.59-carat rough for $85,000. Management plans to provide an update on full-year production during the first quarter of 2023.

Meanwhile, a study at the Kareevlei plant processing plant confirmed that the site did not suffer any significant effects of wet weather in October and November. Replacement of some of the components should increase throughput, reliability and the quality and size of diamond production, it said.

Image: Rough diamonds. (Shutterstock)

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