Bluerock Diamonds carat production rises in Q3

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.