Saturday, December 21, 2013

Rockwell Diamonds Inc. recovers 287ct Diamond

(IDEX Online News) – Rockwell Diamonds Inc. has recovered a 287-carat diamond from its operations in the Middle Orange River region in South Africa "which is of commercial color (tinted white) and makeable in shape".

The miner said that as the stone is the fifth large diamond to be recovered from the operation in the past three months, it further reinforces management's decision to focus operations in Middle Orange region. The diamond will be sold into the beneficiation joint venture with Steinmetz Diamonds at market value with Rockwell participating equally in the added value of the polished diamond at sale.

"The stone was recovered from the Saxendrift Extension property acquired in March 2012 and follows the recovery of four plus 100-carat diamonds in September 2013. These results show that our plants are correctly geared for the recovery of large diamonds that characterize the Middle Orange River region.

This is also a strong validation of our strategy to grow our alluvial production volumes to 500,000m3 per month in order to produce large stones more regularly and improve Rockwell's quarterly earnings performance."