Rockwell Diamonds Inc. reported that diamond sales, excluding beneficiation, rose 69 percent year on year to $12.1 million in the fourth fiscal quarter that ended on February 28. Total carat sales increased 81 percent to 9,596 carats. Rockwell’s rough diamonds received an average price of $1,264 per carat, 7 percent lower than the average price per carat in the same period one year ago.
production at the company’s three operating mines in South Africa grew
39 percent to 2,676 carats, while total production rose 74 percent to
6,717 carats in part due to royalty agreements with contract miners. The
average size of recovered rough diamonds more than doubled over the
year to 4.6 carats.
The mining company’s operations are focused
on developing alluvial diamond deposits in South Africa’s Middle Orange
Management said that it had reviewed cost-effective
ways to renew its aging transportation fleet and is now looking for
financing options. Rockwell said that it plans to expand both production
volume and the recovery of large diamonds going forward.