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Diamcor Sales Surge Despite Weak Rough Prices

Jun 28, 2016 4:00 AM   By Rapaport News
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RAPAPORT... Diamcor Mining reported the average price of its sales in the first fiscal quarter declined to $142.40 per carat even as revenue soared.

The company sold 13,385 carats for $1.9 million in the three months that will end June 30, implying a decline from the average price of $159.38 per carat reported in the same period last year. Sales increased more than four-fold from $455,228 a year before.

“The price per carat realized during the tenders completed during the period was consistent with company expectations for the goods being offered, and reflects the price weakness in certain categories of rough diamonds during the period,” Diamcor said.

The rough diamonds are sourced from the miner’s Krone-Endora at Venetia project in South Africa. All the tenders from the site have been completed for the first quarter.
Tags: diamcor, Diamcor Mining, Krone-Endora at Venetia, mining, Rapaport News, Rough Diamonds, South Africa
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