RAPAPORT… BlueRock Diamonds saw the average price for rough from its Kareevlei mine increase 14% in July compared with the previous month, it reported last week.
The miner sold 3,805 carats of diamonds from the South African deposit for $1.3 million during the month, with the average price of $330 per carat exceeding the company’s expectations, it said. BlueRock sold the stones through a private deal with a sales agent in South Africa.
“Our diamonds remain attractive to buyers, even in what continues to be an uncertain market,” said BlueRock CEO Mike Houston.
Currently, BlueRock is selling locally, as it cannot export its diamonds due to the coronavirus pandemic. It is working on a plan to allow it to send its production overseas so it can secure better prices. In May, the miner announced a deal with diamond-brokerage firm Bonas Group that would enable it to sell its stones in Antwerp.
Image: Rough diamonds. (BlueRock Diamonds)
BlueRock Average Rough Price Rises
The Bottom Line
- BlueRock Diamonds sold 3,805 carats from its Kareevlei mine in July for $1.3 million, achieving an average price of $330 per carat.
- The average price rose 14% month-over-month, surpassing the company’s expectations despite market uncertainty.
- Due to COVID-19 restrictions, BlueRock currently sells diamonds locally but is developing plans to export, including a deal with Bonas Group to access Antwerp markets.
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