Kimberley Diamonds sold its first parcel of rough from the Lerala Diamond Mine in Botswana for an average price of $98 per carat in an online auction Tuesday.
The “small” parcel of gem and near-gem quality diamonds was sent to Antwerp for the auction that was carried out by DDA Trading. Only the gem-quality goods were sold, with the rest added to a sale scheduled for September when the miner expects to see better market conditions. It also aims to benefit from a larger parcel being available for sale in September.
The diamonds were mainly sourced from pre-2016 run-of-mine stockpiles. Production started again at the mine in May after a nine-month upgrade and recommissioning.