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Diamcor Sells Krone-Endora Diamonds for $149 per Carat in 4Q

Mar 8, 2016 3:27 AM   By Rapaport News
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RAPAPORT... Diamcor Mining reported it sold 6,897 carats of rough diamonds from its Krone-Endora at Venetia project in South Africa for a total of $1 million from two tenders held since the start of 2016. The average price achieved was $149.12 per carat.

The sales total – which covers all the tenders scheduled for the current fiscal quarter ending March 31 – represents an increase of about 49 percent by volume and 22 percent by value from a year ago, according to a statement March 7

The price per carat realized during the tenders was “consistent with company expectations,” the statement said.

The company recovered a 12.78-carat and a 7.50-carat diamond using its new Tomra XRT sorting unit recently deployed at the mine, and sold these for $4,747 per carat and $4,152 per carat respectively.

Diamcor has a strategic alliance and first right of refusal with Tiffany & Co. Canada, a subsidiary of New York-based Tiffany & Co., to purchase up to 100 percent of rough diamonds from the Krone-Endora project. Tiffany & Co. Canada also provides financing for the project.
Tags: diamcor, Diamcor Mining, mining rough tenders, Rapaport News
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