BlueRock Sees CEO Shake-Up Amid Challenges

RAPAPORT... BlueRock Diamonds has appointed Victor Dingle as CEO following a financing deal that saw his company, Teichmann Group, become a majority shareholder.Dingle, who is the CEO of Teichmann, will replace Mike Houston, who will leave immediately, BlueRock said Wednesday. BlueRock's finance director, David Facey, is also expected to exit the company, which owns the Kareevlei mine in South Africa."This is an exciting new phase for the company, having endured several difficult years as a result of the Covid-19 pandemic and extreme weather conditions that delayed the commissioning of the new transformational plant and the opening of the main pit," said nonexecutive chairman Rob Croll. The shake-up comes following the July signing of a financing deal between BlueRock and Teichmann that upped the shareholder's interest from 17.4% to 51% in exchange for funding to run the deposit.Image: Rough diamonds. (BlueRock Diamonds)