LONDON (Alliance News) - BlueRock Diamonds PLC said Friday that the mining right for the Kareevlei tenements has been transferred to its subsidiary, Kareevlei Mining.
BlueRock, which has a 74% holding in Kareevlei, has paid approximately GBP55,000 to Diamond Resources Ltd for the mining right.
The mining right covers the Kareevlei Tenements and associated mining equipment, including a diamond processing facility, said BlueRock.
The Kareevlei Tenements are located in the Northern Cape Province of South Africa, and include the Kareevlei Kimberlites and five kimberlite pipes.
BlueRock's shares were up 3.3% to 11.10 pence per share Friday morning.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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