Rockwell Diamonds reported that its revenues from diamond sales in the first quarter of fiscal year 2017 increased by 41%, to 12.1 million Canadian dollars.
The increase was mainly due to increased production at the project Remhugte / Holsloot (Remhoogte / Holsloot, RHC) due to increased production volumes and processing of rock.
Revenue from beneficiation Rockwell fell by 56%, up to 400,000 Canadian dollars, against 900 000 Canadian dollars in the same period last fiscal year.
Thus, for the first quarter revenues of 12.5 million Canadian dollars versus $ 9.2 million a year earlier.
"Rockwell beginning of the 2017 fiscal year with a significant change in the operational profile compared to last year. We have suspended operations on Niveyarskraal mine (Niewejaarskraal), sold mine Tirizano (Tirisano), acquired Remhugte / Holsloot project, and, contrary to expectations, continued to prey on Saksendrift ( Saxendrift), albeit in reduced quantities in terms of production and content of diamond in the rock ", - said General Director of Rockwell Dzheyms Kempbell (James Campbell).
"2016 fiscal year was a difficult period of restructuring our results, which have improved significantly in the first quarter of fiscal year 2017 reflect the improvements that we carry out after the end of 2016 fiscal year of strategic decisions.", - he added.
Campbell also said that production at the RHC has stabilized after a difficult six months.
"We are pleased to announce the stable development of the newly commissioned project Vouterspen (Wouterspan), production of which is expected to begin in August 2016. We are confident that our new profile operations in the Central River region of the Orange (Middle Orange River, MOR) South Africa will allow us to process 350,000 cubic meters of gravel per month until the end of 2017 fiscal year "- continues CEO of Rockwell.
However, the company noted that the diamond market remained stable during the reporting period, as well as a recovery in prices was observed at the beginning of this year.
"Secondary market demand has improved due to the replenishment of diamond manufacturers, but there are concerns about potential oversupply within the diamond market as soon as the goods are placed in diamond water", - noted in the company.
"While diamond prices rose by a few percent in the quarter, compared with January 2016, on the size of the production price of less than 1 carat fell by 5%, and for stones weighing 3 carats, they decreased by 15% compared with the first quarter 2016 financial year ", - concluded the Rockwell.
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Zimbabwe plans to establish a diamond bourse in the territory, as the country seeks to become a regional and global center of the diamond trade.
Local newspaper The Herald reports that Harare would have to compete with the major diamond centers such as Antwerp, Dubai and Mumbai to carry out these plans.
"Once we create the exchange, we will be able to attract large buyers of diamond segment, the volume of purchases of each of which will be at least $ 10 million", - said Deputy General Director for Marketing Minerals Marketing Corporation of Zimbabwe (MMCZ) Masimba Chandavengerva (Masimba Chandavengerwa ).
"Most of the international diamond buyers have expressed interest to visit Zimbabwe, but they avoided this because the diamond industry in the country is fragmented," - he added.
"With a diamond exchange, we can ensure that the assessment and cut stones are standardized. There will be no such situation in which various mining companies provide stones, sharply differing in quality. Buyers will know our assessment, as well as the fact that they will not be deceived "- concluded Chandavengerva.
He said that the diamond market will be standardized trading platform for trading in diamonds and semi-precious minerals.
Banks, insurance companies, cutting and polishing firms and jewelers will be located under one roof, said a top manager.
MMCZ still held a few local auctions of diamonds in Zimbabwe Harare International Airport.
Earlier it was reported that Zimbabwe's diamond reserves in the oil fields account for about 25% of the world.
However, the diamond mining in the country fell after the peak reached in 2011, because, as noted by the officials, diamond alluvial deposits in the region Marange (Marange) depleted.
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