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High-Value Stones Fuel Mountain Province Prices
Mar 20, 2018 4:02 AM
By Rapaport News
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RAPAPORT...
Mountain Province’s March tender achieved the miner’s highest
average selling price to date, driven by a bigger-than-usual selection of large
and high-value diamonds, the company said.
The miner sold 177,000 carats of rough from its Gahcho Kué
mine at an average price of $142 per carat, for a total of $25.1 million, it
reported in a statement last week. Production from the end of last year, as
well as stones brought forward from the next sale, led to the higher number of more
expensive diamonds — known as fancies and specials.
“The total proceeds and average value per carat yielded by
this sale…substantially beat our expectations,” said CEO David Whittle. “This
strong performance reflects an encouraging start to the year for rough diamonds
across all categories, as well as the quality of the fancies and specials on
offer.”
The March tender was the company’s second sale of the year.
The average price in February was $78 per carat.
The miner expects lower-than-average prices at its third
sale of 2018, because it offered some of the better stones at its second sale.
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Tags:
David Whittle, diamonds, fancies, Gahcho Kué, mountain province, Rapaport News, Specials, tender
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