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Rockwell Diamonds reveals plunge in diamond output

Stockhouse Editorial
0 Comments| July 4, 2013


Rockwell Diamonds (TSX: T.RDI, Stock Forum) Thursday reported that first-quarter diamond production was 33% lower than a year earlier at 4,824 carats, this according to company news release.

Rockwell cited operations at Tirisano being placed on care and maintenance in December 2012 and the sale of Klipdam at the end of March 2013 as reasons for the shortfall.

"Rockwell's operational performance for the first quarter of fiscal 2014 reflects the transition of the Company as we have narrowed our focus on growing the production profile, from specific footprints that deliver better efficiencies and greater economies of scale... We are positioned to have three producing mines in the Middle Orange River region by the end of the calendar year. These operations will have a total monthly processing capacity of 370,000m3 against our mid-term objective of 500,000m3,” said Rockwell Diamond President and CEO James Campbell.  

Tags: INDUSTRIAL METALS & MINERALS

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