BlueRock Diamonds on track to meet production target at Kareevlei

Bluerock Diamonds

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16:30 28/06/23

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0.00p

BlueRock Diamonds, the operator and owner of South Africa's Kareevlei Diamond Mine, announced on Thursday that it was on track to reach its target production level of 25,000 tonnes amid evidence of continued improvements in production.

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July's total production of 20,200 tonnes represented an increase of 40% on the previous month with a further sequential improvement anticipated in August.

Also, the diamonds produced and included in August's sales tender had resulted in a grade of 2.07cpht showing an increase to Kareevlei's previous average diamond grade achieved during 2017 of 1.7cpht.

Commenting on the results, Adam Waugh, chief executive officer of BlueRock Diamonds, said: "we are now well on our way to achieving profitable mining with the expected further improvement to grades as we begin processing the sub 20 metre level kimberlite in September."

The company's shares were up by 8.33% to 1.62p as of 08:23 BST.