BlueRock expects further improvement in operating times

Aim-listed BlueRock Diamonds expects the operating time at its Kareevlei diamond mine, in Kimberley, South Africa, to increase by more than 30% after it shifted to a 365-day-a-year operation in March.

This improvement will add to those improvements already achieved during the company’s 2018 financial year, ended December 31, during which it increased its diamond sales by 71% year-on-year to 5 805 ct.

The diamond producer processed 189 990 t during the year – a 24% year-on-year increase – while the average grade improved by 34% to 3.2 carats per hundred tonnes.

Average diamond size recovered during 2018 was about 0.35 ct and over 90% of diamonds were gem- or near-gem quality.

The company had started mining the KV1 pipe at the mine during the second half of the year, which it said had led to a more consistent and higher grade, which had continued into this year.

BlueRock continues investing in its plant and equipment, including the crushing circuit.

The company also appointed Gus Simbanegavi as CEO and agreed to a strategic partnership with Teichmann Group.

The company in May announced that it expects to shortly enter into a contracting agreement with a member of the Teichmann Group, to provide the quantity of ore necessary to meet BlueRock's production plans.

“Teichmann's extensive experience in mining operations is expected to significantly de-risk the company's mining activities and allow BlueRock to meet its production targets in a cost effective manner,” the announcement said.