23 Jan 2023 12:43
BlueRock Diamonds PLC / AIM: BRD / Sector: Natural Resources
23 January 2023
BlueRock Diamonds PLC ('BlueRock' or the 'Company')
Operations Update
BlueRock Diamonds Plc (BRD), the AIM listed diamond producer, which owns and operates the Kareevlei Diamond Mine ('Kareevlei') in the Kimberley region of South Africa, announces an update on operational activity.
Operations update
Kareevlei Mine - suspension of operations
Operations at the Kareevlei Mine ('KVL' or 'the mine') were suspended by the South African Department of Mineral Resources and Energy ('DMRE') on Friday 20th January 2023 after an unscheduled visit to KVL by Officials of the Department.
The Officials issued an instruction in terms of Section 54 and Section 55 of the Mines Health and Safety Act ('the Act') that activities at the mine be suspended until contraventions identified by them are rectified. KVL is challenging the procedures followed by the Officials as well as the instruction to suspend operations which the Company believes are not consistent with the protocols or requirements of the Act.
It is emphasised that the contraventions which were identified do not place employees or other workers on the site at risk, and Management is of the opinion that the instruction to suspend operations is not appropriate given the nature of the findings.
KVL is addressing the matters raised by the DMRE, most of which are for the processing plant, and corrective action will be completed by Tuesday 24th January 2023, with the site expected to be operational by Friday 27th January 2023.
There is sufficient ore on the stockpile and ROM Pad to ensure that there is no disruption to operations when the plant is restarted.
The board is considering the impact of the closure and will update the market in due course.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ('MAR'). Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.
**ENDS**
For further information, please visit BlueRock's website www.bluerockdiamonds.co.uk or contact:
BlueRock Diamonds Victor Dingle, CEO |
v.dingle@bluerock.co.uk |
SP Angel (NOMAD and Broker) Stuart Gledhill / Harry Davies-Ball |
Tel: +44 (0)20 3470 0470 |
St Brides Partners Ltd (Financial PR) Isabel de Salis / Charlotte Page |
bluerock@stbridespartners.co.uk |
Notes to editors:
BlueRock Diamonds is an AIM-listed diamond producer which operates the Kareevlei Diamond Mine near Kimberley in South Africa which produces diamonds of exceptional quality and ranks in the top ten in the world in terms of average value per carat. The Kareevlei licence area covers 3,000 hectares and hosts five known diamondiferous kimberlite pipes with a combined inferred resource of 10.4 million tonnes / 516,200 carats (February 2021); based on its planned production of 1 million tonnes per annum, this provides a minimum 10-year life of mine