FOR THE FIRST TIME, BLUEROCK DIAMONDS MARKS A PROFIT
Good news for the British-based diamond miner BlueRock Diamond, which has announced that it operated profitably for the first time in the second half of 2019, IDEX Online reports.
BlueRock, which started operations in 2012 and owns the Kareevlei Diamond mine in South Africa, marked a 190% increase in revenue to $5.4 million for full year 2019. The miner sold 12,675 carats in 2019 – up 118% year-on-year. Q4 2019 saw an increase of 172% year-on-year to 4,170 carats. BlueRock’s average price per carat increased 24% year-on-year to $415 in 2019, while enjoying a 30% year-on-year increase in Q4 to $410 per carat.
Mike Houston, BlueRock executive chairman, commented: “I am very pleased with the continued success at Kareevlei, having achieved the aggressive guidance for 2019 and operated profitably for the first time in the second half of 2019”. The company added that it expects to meet its targeted production volumes for the 1st quarter of 2020.