The need for significant capital investments will be the main trend in the diamond mining industry in 2021-2030

The prospects of the diamond industry in the post-crisis period are discussed by the Rough&Polished correspondent with Sergey Mityukhin, Candidate of Geological and Mineralogical Sciences, Honored Geologist of the Russian Federation.

06 july 2020

Young Diamantaires: We create initiatives for the benefit of diamond communities worldwide

The World Federation of Diamond Bourses recently launched its Young Diamantaires website. The organization has worked for the past four years with young members of the diamond community all over the world to create a platform through which they can express...

29 june 2020

Those who implement the right anti-crisis strategies have more chances

It is not surprising that because of the pandemic and the crisis, the most heated debate in the jewellery industry is about what is happening and the possible ways of survival. Irina Slesareva, an expert, art director of the Russian Diamond Line contest...

22 june 2020

The secondary diamond market in Russia is not mature although its prospects are huge

Pavel Barannik, the founder and head of the Moscow Gemological Laboratory, the founder of the Gemological Institute and President of the Moscow Diamond Club, graduated from the Gemological Institute of America (GIA). He is an expert and consultant...

15 june 2020

Johan Erikson: The industry needs to spend more on advertising and marketing

First Element is a fully independent Diamond Services Company registered in Belgium, Botswana, South Africa and Dubai. First Element is committed to providing a world class diamond service aimed at adding value to the entire supply chain, from the daily...

08 june 2020

BlueRock Diamonds more than doubles 2019 revenue

23 june 2020
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Image credit: BlueRock Diamonds

BlueRock Diamonds, which owns and operates the Kareevlei Diamond Mine in the Kimberley region of South Africa, has more than doubled its revenue for the year 2019.
The Aim-listed diamond company said its revenue leaped 190% to £4.1 million in the year ended 31 December 2019 compared to £1.4 million, a year earlier. 
It sold 12,675 carats during the year under review, a 124% jump from 5,657 carats in 2018. 
Its average price per carat also jumped 24% to $415 per carat from the previous year’s $334.
“The prices for our diamonds were stable for much of the year and BlueRock with its high-quality diamonds continued to build its brand,” it said.
Meanwhile, BlueRock production volume was also up 70% to 323,000 tonnes compared to 190,000 tonnes, a year earlier.
Its average grade rose 32% to 4.34 cpht from 2018’s 3.28 cpht.
“Total ore mined was 60% up on 2018 with the majority of ore for the year mined out of KV1,” said BlueRock.
“In developing KV1 we have established it is approximately 25% bigger in surface than declared in the Resource Statement set out in the Competent Person’s Report dated August 2013.”
The group said it has put in place a new sales channel in the most liquid diamond market in the world and amended its operating strategy to align mining activity with the revised levels of activity to minimise near time cash costs without endangering the long term future of the mine.

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