Canadian miner Rockwell Diamonds has announced results for the third quarter ended November 30, 2016. According to Mining Weekly, Rockwell’s rough diamond revenues declined by 65% year-on-year to $1.8 million and 77% compared with the previous quarter. The reason: suspended operations and delays at the Wouterspan development as a result of litigation brought by its former contractor, C-Rock Mining Limited (CML). Total revenue decreased by 51% year-on-year to $2.7 million.
According to the report, the company has made “significant progress on cost reductions, having driven down its off-mine costs by some 26% […] and reducing its cash operating costs by 45%”. Rockwell has also reduced its staff from 604 employees to the new structure comprising 297 people in total.
By July, with the Wouterspan and Stofdraai mines in operation, Rockwell expects to have production ramped up to 260 000 m3/m.
