BlueRock Diamonds PLC’s () Gus Simbanegavi tells Proactive London’s Andrew Scott operations at its Kareevlei diamond mine in South Africa have been suspended on the order of the South African government and will remain on care and maintenance until the market recovers sufficiently for them to become cash-flow positive on a monthly basis.
He says that prior to the shutdown, the business was performing well, with the results for the first quarter significantly better than the previous year.
”We’re ready to go”, he says. ”All we can do is watch, wait and see how long this challenge will last”.
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