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Namakwa's Kao Diamond Mine Tender Nets $4M

Mar 12, 2013 9:31 AM   By Deena Taylor
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RAPAPORT... Namakwa Diamonds' recent sale of rough production from its Kao mine in Lesotho fetched $3.84 million and was 100 percent sold by lot. The company reported that a total of 13,976 carats sold for an average price of $274.50 per carat.

This was the eighth Antwerp tender of Kao production and 13th globally since January 2012, and the company stated that sales of 202,931 carats from the mine have generated $58.9 million to date. Namakwa's CEO, Theo Botoulas, said, "We are extremely pleased with the result of our first tender of North-West production in Antwerp, which only serves to underline the significant potential revenue uplift for Namakwa from the North-West mines."

The company also held a tender of diamonds from its North-West operations where the sale of 1,136 carats realized a total of $681,994 or an average price of $600.35 per carat. The average stone size was 0.48 carats

The company also reported that it is in the process of upgrading the Kao plant and expects 21 days of downtime while repairs are being made.
Tags: Deena Taylor, Kao mine, Namakwa Diamonds
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Price per carat
Mar 13, 2013 8:54AM    By Jeff Watkins
The second lot went for an average price of $600,34 per carat not $274.50 as stated. It was too much of a coincidence to get two lots with same $/ct values to the second decimal place!
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