Rockwell Diamonds Sales Plunge in 4Q
Apr 26, 2016 8:34 AM
By Rapaport News
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RAPAPORT... Rockwell Diamonds reported sales slumped in its fiscal fourth quarter while the company is shifting focus at its South Africa-based operations.
Sales fell 45 percent year on year to $7.1 million during the three months that ended February 29, while the volume of sales plunged 42 percent to 4,925 carats. Production fell 33 percent to 4,714 carats.
A strategic review will see the company close its Saxendrift operation in May and recommission its Wouterspan project in the same month. A large proportion of the Saxendrift staff and equipment will be deployed at Wouterspan, the junior mining company said. Both projects are located at South Africa’s Middle Orange River.
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Tags:
diamonds, Rapaport News, Rockwell
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