Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
BlueRock Diamonds (LON:BRD) said Tuesday it had recovered an “exceptional” 8.97-carat stone at its Kareevlei mine, in the Kimberley region of South Africa.
It is the second largest stone mined from Kareevlei and the third valued at more than $50,000. The other two were a 7.76 carat stone sold for $10,070 per carat in 2017 and a 10.58 carat diamond sold for $7,047/carat in 2018.
The 8.97 carat stone was recovered on Friday, Feb.1, along with two other high-quality 6.36 carat and 3.64-carat diamonds. According to chief executive Adam Waugh, the finds reinforce the exceptional quality being produced at Kareevlei.
The discovery came days after the company resumed operations at Kareevlei, following a temporary suspension imposed by the country’s mining regulator after an accident at the mine.
