Diamcor’s sales fell in the second fiscal quarter as lower production at its mine in South Africa resulted in reduced availability of goods.
Revenue dropped 45% to $726,588 in the three months ending September 30 compared to $1.33 million in the same period a year ago, the miner reported Thursday.
Rough-diamond recovery from the Krone-Endora at Venetia asset fell, the company said.
However, the average selling price increased 62% to $278 per carat versus $172 per carat last year as the company unearthed and processed larger sizes, yielding a number of higher-value rough diamonds from 10.8 carats to 20 carats, it added.
Image: Sorted rough diamonds. (Diamcor)