EXPLORATION ROUNDUP — Rex Diamond sells “Earth Fire”

A 20.2-carat, blue-white gem, unearthed from Rex Diamond Mining’s (RXD-T) Bellsbank mine in South Africa, has been sold for US$605,000 (or US$30,000 per carat) to a Taiwanese diamond dealer.

The finished gem, called “Earth Fire,” was cut from a 110.85-carat stone recovered late last year. Bellsbank has since yielded 12 other stones, each of which weighs more than 20 carats.

Rex owns three fissure diamond mines in South Africa and operates sorting and marketing facilities in Antwerp, Belgium. The company also has an extensive portfolio of exploration properties in South Africa and Sierra Leone.

Next year, production is expected to begin at Rex’s Kono mine in Sierra Leone, where bulk sampling and drilling are currently being carried out in a program aimed at defining reserves.