Bluerock Sells All Through Bonas Tender in Antwerp

Mining and Exploration
08/02/2021 12:48

BlueRock Diamonds announced the sale of a 14.8-carat diamond, recovered in December 2020, for USD167,000 (USD11,300 per carat) in its first tender since the start of the pandemic. During the same tender, they sold an 8.7 carat diamond for USD37,000 (USD4,300 per carat). In May 2020 the UK-based BlueRock, operating the Kareevlei mine in Kimberley, South Africa, announced they would be marketing their goods through Antwerp in agreement with Bonas-Couzyn, the Antwerp-based diamond consultancy, and tender house.

“These diamonds were sold, along with our other production, through tender, the first one that we have participated in since the advent of COVID-19. The general results of the tender were very positive and support the recent industry news suggesting that diamond prices are recovering well,” said Mike Houston, BlueRock Executive Chairman. “This is the third large stone recovered in Q4 2020 with an individual value of greater than USD50,000, which I hope marks a return to normality now that we have developed the Main Pit.”

In their updated resource statement BlueRock announced it had a 53% increase in net carats from their Kareevlei mine from 337,018 carats in 2018, to 516,000 carats. Houston said the resource statement was based on the company's planned production of 1 million tonnes per annum, which provides a minimum 10-year life of mine. "The board is confident that the resource will increase further once more work is completed on KV3, our largest pipe, where at present only 40% of this pipe's volume is included in (the) resource," he said.