Industry News by Nemesis

Production Drop Hits Diamcor Sales

December 3, 2018

 

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)

 

Source: Rapaport

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