BlueRock diamond kimberley
A BlueRock diamond
  • BlueRock Diamonds has confirmed the recovery of a 58.6-carat diamond from its Kareevlei mine, 100 kilometres northwest of Kimberley.
  • This find is more than double the size of the previous Kareevlei record of a 24.98-carat diamond recovered in 2019.
  • And it comes just a week after BlueRock recovered a high quality 21.56-carat diamond expected to be the “highest value stone recovered to date”.
  • Although the latest find is big, it does contain “spotted black sulphide intrusions” which may hurt its value.
  • For more stories go to www.BusinessInsider.co.za.

The UK-based BlueRock Diamonds has recovered 58.6-carat stone at its Kareevlei mine, approximately 100 kilometres northwest of Kimberley. It’s the mining company’s biggest find to date, more than double the size of a diamond recovered just a week ago.

The Kareevlei tenements, located near Danielskuil in the Northern Cape and covering an area of 3,000 hectares, consists of five diamondiferous kimberlite pipes. It’s estimated that this mining area holds some 359,000 carats.

It’s been almost a decade since BlueRock Diamonds acquired the mining rights to Kareevlei from the Australian-based Tawana Resources, which had earmarked the area in the early 2000s.

READ | A rare Cullinan diamond sold for R600 million two weeks ago – a bigger one has just been found

The past four years have been especially significant for BlueRock’s Kareevlei operations, with the recovery of more than ten high-quality diamonds, more than half of which have been valued above $100,000 (R1.5 million).

In 2019, BlueRock recovered a 24.98-carat diamond from Kareevlei, which fetched $190,000 (R2.8 million) at auction. This size record was recently broken by the discovery of a 58.6-carat diamond – more than double the size of the 2019 find – announced by BlueRock on Monday.

Despite being the biggest diamond recovered by BlueRock and classed as a “D” grade – indicating the highest clarity of stone – it contains “spotted black sulphide intrusions” which may hurt the final price.

“This is a very important discovery for BlueRock as it supports the ‘size frequency distribution charts’ that indicate our pipes will deliver large high value diamonds along with the highly sought after ‘run of mine’ parcel of diamonds which have secured values of over $400 (R6,000) per carat in 2021,” said Executive Chairman, Mike Houston.

The latest discovery comes just one week after BlueRock announced that it had discovered a 21.56-carat stone “of exceptional quality”. Houston expected this to be BlueRock’s “highest value stone recovered to date”.

Both stones will be sold in the August 2021 tender.

“The 21.56ct stone is a high quality, D coloured round diamond with high value recovery options and its value is likely to significantly exceed our previous record of $236,000 (R3.5 million) obtained for a 20.7 carat stone that was sold in October 2019,” noted a statement issued by BlueRock on 9 August.

“We expect that the sales value of the 58.6 carat stone will be significant as it is a D colour makeable stone but has spotted black sulphide intrusions with the final value dependent upon the buyer’s confidence of what cut stones can be recovered.”

(Compiled by Luke Daniel)

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