RAPAPORT... IGE Resources, which bought Pangea DiamondFields operations,  completed its first rough diamond sale today. The company reported selling  3,407 carats of rough in Luanda, Angola. This sale yielded an average price of  $162 per carat, which was slightly higher than the most recent prices achieved by Pangea for diamonds from the same concession.

"The sale marks that IGE now is not only a diamond exploration company, but also a producing company in southern Africa. This is truly the beginning of a new era for IGE. We are also satisfied with the average price, which suggests that the rough diamonds market is hardening," said IGE Resources' Tomas Fellbom.