15 Nov 2021 15:45
BlueRock Diamonds PLC / AIM: BRD / Sector: Natural Resources
15 November 2021
BlueRock Diamonds PLC ('BlueRock' or the 'Company')
Update
BlueRock Diamonds PLC, the AIM listed diamond producer, announces an update with regards to operations at its Kareevlei Diamond Mine ('Kareevlei') in the Kimberley region of South Africa.
Following a visit to Kareevlei on 9th November 2021 by South Africa's Department of Mineral Resources and Energy (the 'DMRE'), Kareevlei was issued with a Section 54 notice in terms of the Mine Health and Safety Act (given in the event of a deemed safety breach) on the evening of 11th November 2021. Accordingly, operations at the mine have been stopped pending resolution of the issues identified by the DMRE. The DMRE has visited the operation regularly, including during the Company's current expansion project, with no previous suggestion of this outcome.
Management is working closely with the DMRE to resolve the issues raised and hopes to restart processing in the near future. The shutdown is not currently expected to alter the guidance for the year ended 31 December 2021 of between 22,000 and 26,000 carats produced.
Further updates will be provided 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 BRD's website www.bluerockdiamonds.co.uk or contact:
BlueRock Diamonds PLC Mike Houston David Facey, FD |
mhouston@bluerockdiamonds.co.uk d.facey@bluerockdiamonds.co.uk |
SP Angel (NOMAD and Broker) Stuart Gledhill / Caroline Rowe |
Tel: +44 (0)20 3470 0470 |
St Brides Partners Ltd (Financial PR) Isabel de Salis / Susie Geliher |
Tel: +44 (0)20 7236 1177 |
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.