BlueRock Diamonds PLC (LON:BRD) has said it produced 2,503 carats of diamonds in the first quarter of 2020, an increase of 76%.
The company also sold 3,267 carats during the quarter, up 77%.
However, operations have been suspended on the order of the South African government and will remain on care and maintenance until the market recovers sufficiently for them to become cash-flow positive on a monthly basis.
The diamond market has been impacted by the coronavirus pandemic, with international tender houses and supporting operations suspended until further notice.
"This update is overshadowed by the impact of the coronavirus pandemic that has been sweeping the world and, as announced on 24th March 2020, has resulted in the temporary closure of Kareevlei,” said BlueRock executive chairman, Mike Houston.
“This is an evolving situation but our key priority at this early stage is the safety and wellbeing of our employees and their families and the protection of the assets. Before we were faced with the pandemic, BlueRock was performing well, with the results for the first quarter significantly better than the previous year, despite having over 18 inches of rainfall and the loss of eight days production due to the South African lockdown.”
BlueRock operates the Kareevlei diamond mine in South Africa.