News

Advanced Search

Diamcor Sales Spike Despite Rough Price Drop

Aug 22, 2016 3:32 AM   By Rapaport News
Email Email Print Print Facebook Facebook Twitter Twitter Share Share
RAPAPORT... Diamcor Mining’s revenue more than quadrupled in its first fiscal quarter as increased efficiencies and processing volumes offset a decline in rough prices.

Revenue jumped to $1.9 million (CAD 2.4 million) in the three months that ended June 30 from $445,047 a year earlier, the South Africa-focused miner said. The average selling price fell to $142 per carat from $159 per carat a year earlier, mainly due to an “overall weakening” in rough prices during fiscal 2017. The company reported a $29,991 profit versus a loss of $550,106 a year ago.

Diamcor operates the Krone-Endora at Venetia mining project, which it acquired from De Beers in 2008.
Tags: diamcor, Diamcor Mining, Krone-Endora at Venetia, Rapaport News, rough prices, South Africa
Similar Articles
Mountain Province 150Mountain Province Tender Yields $26M
Apr 24, 2018
Mountain Province’s sales increased at its April rough-diamond tender as a higher carat volume outweighed a weaker average
© Copyright 1978-2018 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.