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First Kimberlite Production from Lace Mine in 85 Years Yields $175/Ct.
Apr 6, 2016 10:21 AM
By Rapaport News
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RAPAPORT... DiamondCorp recorded a sale of kimberlite diamonds from its Lace mine in South Africa for the first time since 1931, achieving an average price of $175 per carat.
The mining and exploration company sold 6,247 carats of kimberlite diamonds of more than 1.25 millimeters in diameter for $1.1 million, according to a statement April 5. The company sold a further 2,401 carats of fine diamonds and stones from tailings for $46,000, or $19 per carat, giving a total of 8,648 carats of all sizes of rough diamonds.
DiamondCorp sold a
22.11-carat, H-color diamond
to its beneficiation joint venture at $5,000 per carat. The rough was cut into two pieces and then polished to release an emerald-cut, 7.19-carat, F-color, VVS2 diamond as well as a pear-shaped, 0.85-carat, E/F-color gem. DiamondCorp will receive a 50-percent share of cutting and polishing profit in addition to the price of the rough when the two polished stones are sold.
Separately, a 1.08-carat, type-II purple stone fetched $6,363 per carat at the tender. The purple diamond is “an early indicator of the extra value” that type-II and colored stones can add to the Lace resource, the statement said.
“We are extremely pleased with the level of demand shown for the Lace production and the prices we achieved in all size categories,” said Paul Loudon, DiamondCorp’s chief executive officer.
“Overall sentiment in the diamond market remains relatively positive compared to the end of 2015, and the price increases seen in January are being maintained,” Loudon added.
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Tags:
DiamondCorp, Lace, Lace Diamond Mine, Lace Mine, Rapaport News, Rough Diamonds, rough prices
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