Academician Pokhilenko: The situation with rough diamonds in the Russian Federation will start changing for the worse as early as 2025

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Ilgiz Fazulzyanov: For a creator, the quarantine is the time to work on future masterpieces

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Botswana Diamonds keen to mine KX36 kimberlite if found commercial

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‘We expect to completely open the Bourse for business by Q1 of the Year 2022,’ assures Vallabhbhai Patel, Chairman, SDB

Vallabhbhai Patel, Chairman of the Surat Diamond Bourse, dreamed of building the world’s largest commercial building in Surat for the Indian diamond industry. He conceptualized the ‘Surat Diamond Bourse’ (SDB), which is set to redefine...

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An opportunity to show your products and occupy your niche

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14 december 2020

BlueRock operates profitably as 2019 revenue jumps 190%

23 january 2020

blue_rock_logo.pngBlueRock Diamonds, which owns and operates the Kareevlei Diamond Mine in South Africa, accrued £4.1 million in revenue for the full year 2019, a 190% jump from £1.4 million, a year earlier.
The AIM listed diamond producer also operated profitably for the first time in the second half of 2019.
Its diamond production at Kareevlei was up 118% to 12,675 carats in 2019 compared to 5,805 carats, the previous year.
“We are proud of this key milestone, which is a testament to the implementation of the revised production strategy brought in by the company’s new management team in Q2 2019,” said BlueRock executive chairman Mike Houston. 
“… this strategy has focused on stabilising production ahead of maximising the exploitation of the resource.  To that end, we are developing plans to effect a further step change increase in production and lower unit costs.” 
BlueRock said it has been operating at near current capacity (40,000 tonnes per month) and continues to benefit from increased economies of scale and management remains focused on cost reduction. 
The unaudited cost per carat produced in the second half of 2019 fell to $275 per carat compared with the cost per carat for August and September 2019 of about $300.  
This compares to the sale price per carat in the fourth quarter of 2019 of $410. 
Revised guidance for 2020 is expected to be issued following finalisation of the company’s development plans, it said.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished