Blue Rock Diamonds Overcomes Production Troubles Caused by Excessive Rain in Q4-2022

BlueRock Diamonds says it has finally gotten through the last of the problems that cut its processing production by over 30% caused by unseasonable rains that flooded the country last
April and again in October through November. In an update posted by London-based miner the company confirmed it was now back to normal production levels, even during a particularly rainy fourth quarter.

The unexpected rainfall at its Kareevlei mine, in South Africa, hampered access to high-quality kimberlite, forcing it to use lower grade ore and delay roll-out of its mining development plan.
“Diamond prices fell during Q4 2022,” BlueRock said, but that was “partially offset by higher production, albeit at a lower average grade.”

The company reports that the results of a two-month test to determine the realistic capacity of the Kareevlei plant, which commenced in mid-October confirmed that production of marginally below 90,000 tons per month is achievable which is in line with previous expectations. Of more importance the test was a confirmation that the plant was not affected to any significant extent by wet weather experienced in October and November, provided that sufficient ore is available.

The miner says it still sold a 10.19-ct diamond for almost $102,000 at its November tender.

Source: Blue Rock

Photo Credit: Blue Rock