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Gahcho Kué Prices Hit New Peak at $95/ct.
Jun 27, 2017 3:10 AM
By Rapaport News
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RAPAPORT... Mountain Province Diamonds recorded its highest average
price to date as it garnered $21.1 million at its June sale.
The fifth tender of rough from the company’s Gahcho Kué mine
fetched $95 per carat, compared with $72 per carat in the first three sales and
$86 per carat at the fourth.
The results were high because the sale featured some of the fancy
and special stones for which Mountain Province had successfully bid against
mining partner De Beers, the company said Tuesday. The rest will be on offer at
the July sale. Excluding these higher-value goods, the average selling price
this month was $75 per carat, as the tender included relatively small and low-quality
rough.
The June tender drew more bids than any of the company’s
sales so far, with repeat customers winning 75% of lots, Mountain Province
said.
“Very positive prices were realized on the fancies and
specials, and prices realized on the remainder of the offering also exceeded
expectations,” the company said.
Mountain Province owns 49% of Gahcho Kué, with De Beers holding
the remaining 51%. The two miners split the project’s regular run-of-mine rough production
between them, and bid against each other for the
fancy and special goods. |
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Tags:
De Beers, fancies and specials, Gahcho Kué, Gahcho Kué mine, mountain province, Mountain Province Diamonds, Rapaport News, Rough Diamonds, rough sales
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