Share

Mine sparkles after monster diamond finds

Johannesburg - A South African diamond company saw its share price surge nearly 70 percent this week, when it reported uncovering four large gems weighing more than 100 carats each.

Rockwell Diamonds a mid-tier miner, announced news of the discovery on Tuesday. By Thursday its shares on the Toronto stock exchange were worth 69% more.

The four stones weighed between 116-carats and 168-carats.

That means each stone weighs at least 23 grams - roughly half the weight an egg.

Depending on quality the gems could be worth tens of millions of dollars each.

The stones - two of which are of "exceptional" quality - were found in the Middle Orange River of South Africa, a region known for its large and high quality gemstones.

"We have recovered four stones exceeding 100 carats in three weeks," Stephanie Leclercq, Rockwell investor relations executive in South Africa, told AFP.

"We generally expect to recover one or two of those stones in a year so that was quite material," she added.

The company is dual listed on the Johannesburg and Toronto stock exchanges.


We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.94
-0.0%
Rand - Pound
23.91
-0.0%
Rand - Euro
20.41
+0.1%
Rand - Aus dollar
12.33
+0.1%
Rand - Yen
0.13
-0.0%
Platinum
908.05
+1.2%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders