Innovation and automation can conquer any challenges

Rahul Gaywala, the CEO of STPL has been with the Sahajanand Group since 1993 and in his tenure with STPL, he has proved to be a hard-core innovator and technocrat intent on helping to transform the diamond trade from a labour-intensive industry to an...

Yesterday

Memorial Foundation of Carl Fabergé continues to fulfill its tasks

Valentin Skurlov, Ph. D., who is an Honorary Academician of the Russian Academy of Arts, professor, scientific secretary of the Fabergé Memorial Foundation, consulting researcher studying the Fabergé heritage at the Russian department of the Christie's...

30 march 2020

Gaetano Cavalieri: We need to protect the long-term health of our industry

The World Jewellery Confederation (CIBJO) represents the entire jewelry industry embracing a whole variety of companies, from those mining precious metals and gems to those, which are manufacturing and selling final products. The confederation...

23 march 2020

Sierra Leone mulls setting up entity to buy diamonds from artisanal miners

Sierra Leone will revise its Mines and Minerals Act that will, among other issues, pave way for the establishment of a State entity that can buy diamonds from artisanal miners, an official has said. The National Minerals Agency of Sierra Leone director-general...

16 march 2020

David Block, CEO of Sarine Technologies believes that AI will play a bigger role in the industry in the next few years

Armed with an MBA degree from the Kellogg-Recanati School of Business, and a Bachelor's degree in Computer Science from the Tel Aviv-Jaffo Academic College in Israel, David Block is the present CEO of Sarine Technologies, a worldwide leader in the...

10 march 2020

BlueRock raises £1.9m to “fast track” production at SA mine

20 february 2020

bluerockdiamonds_logo.pngThe AIM listed BlueRock Diamonds has raised £1.9 million through an oversubscribed placing and subscription to “fast-track” a doubling of production at its Kareevlei mine in South Africa.
It issued more than 2.2 million new shares at a price of 85p each, a 12.8% discount to its closing price on Monday.
“Securing these funds from new and existing shareholders represents an endorsement of the opportunity that Kareevlei offers to build production, revenues and profitability,” said BlueRock executive chairperson, Mike Houston.
“…BlueRock can fast-track a material increase in production volumes from the 323,000 tonnes achieved in 2019 to a run rate of +/- 750,000 tonnes per annum and a consequent expected increase in carats to over 30,000 by the end of 2020.”
He said the company was optimising profitability through reducing unit costs by investing in infrastructure and the benefit of the much improved economies of scale.
BlueRock’s target was to reduce cost per carat by approximately $50. 

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