The diamond will be sold into the beneficiation joint venture with Steinmetz Diamonds at market value with Rockwell participating equally in the value uplift once it has been polished and sold.
Commenting on the recovery of this large stone James Campbell, CEO and President said:
"This 287-carat diamond is only the second rough diamond exceeding 200 carats produced by Rockwell in its eight year history and is one of the largest stones produced in the Middle Orange in recent times. 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."