Bluerock Diamonds carat production rises in Q3

Mine operator Bluerock Diamonds reported an improved third-quarter performance across the board on Tuesday, with tonnes processed, grade, carats produced and sold, and average prices all increasing.

Bluerock stated it had processed 159,867 tonnnes in the period, up 29% year-on-year, while the average carats per hundred tonnes grade improved 7% to 4.81.

The AIM-listed firm also produced 38% more carats at 7,682 and sold 6,887 of them, an 81% uptick. Average prices per carat also increased, up 68% at $554.0 each.

Chairman Mike Houston said: "With 7,682 carats produced, this has been another record quarter driven by quality high-grade kimberlite being mined and the new crushing plant providing a consistent feed to the old three-pan processing plant. It augurs well for the transition to the new four-pan plant, which will be completed during October.

"The market for rough diamonds has remained firm throughout the quarter with strong buyer participation at the South Africa tenders and a growing interest for Kareevlei diamonds as reflected in our average price of $554 per carat, the highest quarterly price achieved by the company."

As of 0950 BST, Bluerock shares were up 5.61% at 49.11p.