Industry News by Nemesis

Kimberley Completes First Sale of Lerala Rough

June 30, 2016

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. 

 

Source: Rapaport

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