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BlueRock Diamonds recovers two ‘exceptional’ gems

BlueRock Diamonds has announced that the Kareevlei diamond mine has recovered two gem quality exceptional stones of 14.8 carats and 8.7 carats.

The company which was founded in 2012, has been producing exceptional quality diamonds and out of its mine near Kimberley in South Africa. The Kareevlei licence area covers 3,000 hectares and hosts five known “diamondiferous kimberlite pipes”.

Mike Houston, executive chairman for BlueRock, said: “I am very pleased to announce the recovery of two high value gem quality diamonds from the Kareevlei Diamond Mine and the sale of the 12.8 carat diamond, the recovery of which was announced on 4 December, for $76,000 (£56,000), $6,000 per carat (£4,469).

“The reduced incidence of larger stones in 2020 and the ongoing impact of Covid-19 has reduced our average selling price for 2020 to c.USD290, which is around the bottom end of our guidance for 2020.”

He added: “This compares to our estimate of the 2019 price per carat excluding the higher value stones of cUSD330, a c.12% decrease. We are hopeful that the discovery of three high value stones within a month marks the start of a return to mining higher value diamonds.

“Promisingly, our more recent diamond sorts at Kareevlei indicate an increased incidence of diamonds of 3 carats and above, which is another significant driver of pricing. Accordingly, we expect prices to recover in 2021 to reflect this change.”

 

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