Monster Northern Cape diamond found

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WhiteDiamond

Reuters.

A model displays an emerald-cut white diamond, set as a ring.

Kimberley - In what has been described as “the biggest diamond find in the Northern Cape in recent times” a 287-carat diamond has been unearthed between Douglas and Prieska.

Rockwell Diamonds Incorporated, a Canadian-based mining company, announced the recovery of the 287-carat “monster stone” from its operations in the Middle Orange River region.

The stone is described as of commercial colour (tinted white) and makeable in shape, making it wholly compatible with cutting and polishing for commercial value.

This was the fifth large stone recovered from this area in three months.

Commenting on the recovery of this large stone, James Campbell, chief executive officer and president of Rockwell Diamonds, said the 287-carat diamond was only the second rough diamond exceeding 200 carats produced by Rockwell Diamond 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 Saxondrift Extension property acquired in March 2012 and follows the recovery of four plus 100-carat diamonds in September 2013.”

He added that these results showed that their plants are correctly geared for the recovery of large diamonds that characterise the Middle Orange River region.

“This is also a strong validation of our strategy to grow our alluvial production volumes to 500 000 cubic metres per month in order to produce large stones more regularly and improve Rockwell’s quarterly earnings performance.”

Lucara Diamonds recently found a 256-carat diamond, which was sold through tender this month for $4.4 million, with a cleaner 137-carat stone selling for $4.28 million, but Rockwell yesterday indicated that they were still in the process of negotiations and validations of the stone.

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. - Diamond Fields Advertiser


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