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.
Diamond mining company Rockwell Diamonds (TSX: RDI; JSE: RDI; OTCBB: RDIAF) reported on Wednesday that its diamond sales for the first quarter of its 2013 financial year reached 6 234 ct and generated $5.9 million.
CEO James Campbell said in a statement Rockwell planned to incorporate the technology into future mining developments, as the results gave it confidence that it could unlock further sales revenues.
The average price a carat for the quarter was $944 and sales included 1 005 ct from the proof-of-concept bulk X-ray plant, located at the company’s Saxendrift mine, which were sold at an average price of $853/ct.
For more details, you can read the full Q1 results announcement here.
