JOHANNESBURG (miningweekly.com) – Aim-listed BlueRock Diamonds now has the capacity to produce sufficient material to supply the processing plant at the Kareevlei mine, in the Northern Cape, after commissioning the new crushing and screening circuit.
The diamond mining company said the operations, tested under full load and performing well, successfully started 24-hour production on March 8.
The company intends to work a five-day, 24-hour production schedule with maintenance being carried out on Saturdays.
“Kareevlei mine has had a significant overhaul over the last nine months. We have made many changes to the operation and we move into this new phase of increased production with excitement,” CEO Adam Waugh said in an update on Wednesday.
“This significantly aids our ability to meet production targets, as well as reducing running costs a tonne,” he said.
Meanwhile, the company agreed the terms of a £150 000 unsecured loan facility with two of its directors Tim Leslie and Paul Beck and a major shareholder Mark Poole to provide the extra working capital required, largely as a result of the delays caused by the unusually high rainfall that has been experienced in the Northern Cape over the last couple of months.
“The loan facility, comprising of a maximum contribution from Leslie and Poole of £62 500 each and Segar Properties, a company wholly owned by Beck, of £25 000, has a term of six months and a coupon of 10% a year, payable at the end of the term,” the company commented.
BlueRock restarted operations at Kareevlei earlier this month after having halted operations late last year to undertake upgrades to the processing plant and trackless mobile machinery.
Edited by: Creamer Media Reporter
EMAIL THIS ARTICLE SAVE THIS ARTICLE
ARTICLE ENQUIRY
To subscribe email subscriptions@creamermedia.co.za or click here
To advertise email advertising@creamermedia.co.za or click here
