Rockwell Diamonds has increased its production of diamonds in the first quarter of fiscal year 2017 by 88% to 5688 carats, against 3025 carats a year earlier.
In the fourth quarter of 2016 the company managed to obtain the financial year 4726 carats, which is 20% lower than in the reporting period.
Rockwell sales totaled 4,880 carats, an increase of 3% compared with the previous quarter at an average price of $ 1864 stones per carat.
Thus, the total sales of the company increased by 31% compared with the previous quarter, to $ 9.1 million, excluding the beneficiation stones.
"Our performance in the first quarter of fiscal 2017 reflect the improvements that we carry out after the strategic decisions the end of 2016 fiscal year performance at our operations was increased, so we were able to increase the performance of diamond mining and the cost of stones." - said the CEO of Rockwell Dzheyms Kempbell (James Campbell).
"Operations on Saksendrift (Saxendrift) continues to wind down, and production at Remhugte (Remhoogte) has stabilized after a difficult third and fourth quarters, the results of which were reported earlier," - he continued.
According to him, the company will continue to focus on restoring production in the central region of the Orange River (Middle Orange River, MOR) in South Africa, as well as exploration to identify new opportunities with high potential. This will allow the company to increase the existing resources on the areas adjacent to the mine Vouterspen (Wouterspan).
"We will also continue to assess new projects and seek opportunities for consolidation, implying an increase of value added", - concluded Campbell.
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Four diamond traders were sentenced to prison terms for bribing an employee of the gemological laboratory HRD in Antwerp in order to forge certificates for colored diamonds, Rapaport reported, citing information from the Antwerp World Diamond Center (AWDC).
The defendants, whose names are not reported by AWDC, wrongfully received documentation with a higher appreciation of the color of their stones, which enabled them to sell diamonds at a much higher price.
The Antwerp court sentenced the defendants to imprisonment, and sentenced them to pay significant fines. Meanwhile, the prosecutor filed an appeal to consider the case of another company involved in this scheme.
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