Industry News by Nemesis

Mountain Province Sale Yields $26M

April 24, 2018

 

Mountain Province’s sales increased at its April rough-diamond tender as a higher carat volume outweighed a weaker average price. 

The miner sold 451,000 carats of rough from its Gahcho Kué mine for $26.4 million at an average of $59 per carat, it reported in a statement last week. 

While total sales rose from $25.1 million in March, the average price was the lowest of the year. The February tender fetched $78 per carat, while the March sale achieved $142 per carat, as the company brought forward the sale of more expensive stones, known as fancies and specials, that it would otherwise have offered in April. 

“Exceeding our expectations, [the results] indicate a positive year-on-year firming trend within diamond markets generally,” said CEO David Whittle.

 

Source: Rapaport

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