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Diamcor Third-Quarter Rough Sales Decline

Dec 21, 2017 4:33 AM   By Rapaport News
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Diamcor’s tender results showed a lower number of carats sold in the third fiscal quarter that started October 1, with the company citing water-recovery issues.

The company sold a total of 4,354 carats of rough diamonds for $864,546 at an average price of $199 per carat. Sales value decreased 27% from the third quarter last year, while volume slumped 54%, according to Rapaport calculations.

The average price increased from $125 per carat recorded last year, and $172 in the preceding second fiscal quarter. The jump was partly due to the sale of a 25-carat rough diamond, one of three stones above 10.8 carats that it tendered in the third quarter. Diamcor also recovered 19 individual rough diamonds over 5 carats, as well as 182 individual rough diamonds over two carats.

“Increased attendance at the tenders and demand during the period” also impacted pricing, Diamcor reported.

Diamcor sources its rough diamonds from the Krone-Endora at Venetia mine in South Africa. The company have a long-term strategic alliance and first right of refusal with Tiffany & Co. Canada for its rough diamonds.
Tags: diamcor, Rapaport News, rough sales
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