Bleak Future for BlueRock Diamonds

By John Jeffay / April 13, 2023 / www.idexonline.com / Article Link

(IDEX Online) - The future for BlueRock Diamonds, the British miner that operates the Kareevlei mine, in Kimberley, South Africa, looks bleaker than ever.The company says it is unlikely that it will continue as a going concern. In February it suspended trading in its shares after its debt-ridden subsidiary Kareevlei Mining. which operates the mine, was placed in business rescue."The board has explored numerous options to minimise the potential loss to stakeholders," the company said on Tuesday."In the absence, however, of any distribution from Kareevlei or new capital being raised it is unlikely that the company can be considered to be a going concern."BlueRock directors have told business rescue practitioners they can't contribute any further funding to help recapitalize the operations.Three parties have expressed an interest in acquiring the Kareevlei mine.Pic of Kareevlei processing plant courtesy BlueRock

Recent News

Energy outperforms gold and tech for first time in years

March 23, 2026 / www.canadianminingreport.com

Gold stocks crash along with metal price

March 23, 2026 / www.canadianminingreport.com

Mining stock ETFs slide, gold sector valuations high

March 16, 2026 / www.canadianminingreport.com

Rise in oil price a potential net gain for Canada

March 16, 2026 / www.canadianminingreport.com

Gold stocks slump partly on fears of cost increases

March 09, 2026 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok