The business rescue process for Rockwell Diamonds and its three South African subsidiaries – Rockwell Resources, HC van Wyk Diamonds and Saxendrift Mine – will be published by September 30, Mining Weekly reports.
“The appointed business rescue practitioners are actively working alongside the companies’ management to prepare a business rescue plan, which will deal with all claims against the subsidiaries”, the company announced.
In the quarter leading to May 31, Rockwell reported “a total comprehensive loss of $2.7 million […] primarily driven by no completed operations being conducted during the period and resulting in very few diamonds recovered to cover operational costs and overheads”.
