Toronto- and Johannesburg-listed diamond company Rockwell was hit with disappointing economic reports for the period which ended on 30 November 2012, Mining Weekly reports. The third financial quarter saw losses of $4.8 million for Rockwell and comprehensive losses of $7.4 million.

The alluvial diamond miner said that it had $3.2 million in liquid assets and that incoming revenues were at present able to cover the costs of the company's mining operations. But it noted that it was operating at a loss because its revenue streams were insufficient to pay for corporate overhead and for amortization.

Rockwell's Saxendrift mine has been performing well, the company reported, and an adjunct mine, Saxendrift Hill, will be put into production in two months' time. But Rockwell's Klipdam and Tirisano assets – the latter of which has already been temporarily decommissioned – have been losing funds.

A 6% increase in the volume of gravel processed led to a 12% increase in Rockwell's diamond production by carat, year-over-year, according to Mining Weekly.