BlueRock Diamonds PLC (LON:BRD) has reported that in August it processed 41,000 tonnes of ore from the main pit of its Kareevlei mine in South Africa, with the diamonds mined improving significantly to an average grade of 5.1 carats per hundred tonnes (cpht).
The company’s chairman Mike Houston said the grade of diamonds recovered in August had improved on the first half of 2020, where grades averaged 3 cpht. The grades were also “well above” the firm’s internal target of 4 cpht.
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"The increase in grade has a significant impact on the operations in what remains a challenging environment. Most importantly it lowers the cost per carat significantly and provides more operational flexibility. It should be noted, however, that as diamonds are not a homogenous resource, grades may vary as we mine in different parts of the pit. I look forward to providing further updates when practicable", Houston added in a statement.
The shares were steady at 52.5p in early trading on Thursday.