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BlueRock DiamondsPLC - Update on Kareevlei Diamond Mine

RNS Number : 0727B
BlueRock Diamonds PLC
28 January 2020
 

BlueRock Diamonds PLC / AIM: BRD / Sector: Natural Resources

28 January 2020

BlueRock Diamonds PLC ('BlueRock' or the 'Company')

Update on Kareevlei Diamond Mine

 

BlueRock Diamonds PLC, the AIM listed diamond producer, announces an update on operations at its Kareevlei Diamond Mine ('Kareevlei') in the Kimberley region of South Africa, in which it holds a 74% interest. 

 

The directors were made aware of a peaceful demonstration at Kareevlei, which commenced late on Sunday afternoon.  BlueRock management is in discussions with the local community to resolve the issues and production at the mine has not been materially affected with all operations back online.

 

The Company maintains regular dialogue with all its stakeholders and takes its corporate social responsibilities very seriously, particularly as it operates in an area of high unemployment.  The Company employs a dedicated person to fulfil its social responsibility policies which involve, within the Company's financial capacity, supporting facilities that improve the quality of life of the community local to its mine.   

 

BlueRock Executive Chairman, Mike Houston, said, "Naturally, we are disappointed that a demonstration was deemed necessary given we maintain regular contact with the local community and government.  Production has not been materially affected and we remain confident of achieving our internal budget, whilst we develop longer term mine plans to optimise the resource. These plans when implemented will importantly result in additional employment, the increased use of local services and have a very positive impact on the community at large. We look forward to maintaining a good working relationship with our community and will update the market regarding any further developments."

 

Market Abuse Regulation (MAR) Disclosure - Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

 

**ENDS**

 

For further information, please visit BRD's website www.bluerockdiamonds.co.uk or contact:

 

BlueRock Diamonds PLC

Mike Houston

David Facey, FD

 

[email protected]

[email protected]

SP Angel (NOMAD and Joint Broker)

Stuart Gledhill / Caroline Rowe

 

Tel: +44 (0)20 3470 0470

Turner Pope

Andy Thacker

 

Tel: +44 (0)203 657 0050

St Brides Partners Ltd (Financial PR)

Isabel de Salis / Susie Geliher / Cosima Akerman

 

Tel: +44 (0)20 7236 1177

 

Notes to editors:

BlueRock Diamonds is an AIM-listed diamond producer which operates the Kareevlei Diamond Mine near Kimberley in South Africa which produces diamonds of exceptional quality and ranks in the top ten in the world in terms of average value per carat. The Kareevlei licence area covers 3,000 hectares and hosts five known diamondiferous kimberlite pipes. As at November 2018, it was estimated that the remaining Inferred Mineral Resource from the four kimberlite pipes (KV1, KV2, KV3 and KV5) represents a potential inground number of carats of 367,000.


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: Bluerock Diamonds Plc

Price: 56.5

Market: AIM
Market Cap: £2.97 m
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