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Production Drop Hits Diamcor Sales
Dec 2, 2018 9:55 AM
By Rapaport News
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RAPAPORT... Diamcor’s sales fell in the second fiscal quarter as lower
production at its mine in South Africa resulted in reduced availability of
goods.
Revenue dropped 45% to $726,588 in the three months ending
September 30 compared to $1.3 million in the same period a year ago, the miner
reported Thursday.
Rough-diamond recovery from the Krone-Endora at Venetia
asset fell, the company said. However, the average selling price increased 62%
to $278 per carat versus $172 per carat last year as the company unearthed and
processed larger sizes, yielding a number of higher-value rough diamonds from
10.8 carats to 20 carats, it added.
Image: Sorted rough diamonds. (Diamcor)
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Tags:
diamcor, Krone-Endora at Venetia, mining, Rapaport News, Rough Diamonds, South Africa
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