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Diamcor to Organize its Largest Tender Ever of 6,800 Carats of Diamonds

Nov 2, 2015 7:45 AM   By Rapaport News
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RAPAPORT... Diamcor Mining will organize its largest tender ever by offering about 6,800 carats of rough diamonds, it said in a statement October 30.

The bid will comprise approximately 2,800 carats from material recovered and processed between October 1 and October 25, and about 4,000 carats that were already in its inventory as at September 30, according to the statement.

The precious stones in the tender have been recovered from the company’s Krone-Endora project in the Limpopo province of South Africa, which it acquired from De Beers in February 2011. Some of the stones will be higher-value rough diamonds withdrawn from the previous tender, including eight stones of 2 to 3 carats each, the statement said. The company will also put up for sale a 10.93-carat diamond and another four ranging from about 11.72 carats to 18.05 carats.

Diamcor’s rough diamond carat sales surged 70 percent and revenue jumped 49 percent in the three months to September 30, it reported October 6. During that period, the company took part in one rough diamond tender, selling 4,845.93 carats, compared with 2,856.24 during the previous quarter.

Diamcor operates an alliance and first right of refusal with Tiffany & Co. Canada, a subsidiary of Tiffany & Co., to purchase rough diamonds from the Krone-Endora project, the miner said.
Tags: Canada, diamcor, Rapaport News, South Africa, Tiffany & Co
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