News

Advanced Search

Lace Run-of-Mine Diamonds Sold for $189/Ct.

Jun 14, 2016 10:20 AM   By Rapaport News
Email Email Print Print Facebook Facebook Twitter Twitter Share Share
RAPAPORT... DiamondCorp sold two batches of rough diamonds from its Lace mine for $436,597 (ZAR 6.5 million), with a parcel of run-of-mine diamonds fetching a record price.

The 1,838 carats of run-of-mine goods sold for an average of $189 per carat. A separate parcel of 1,679 carats of tailings diamonds fetched $53 per carat.

“The latest selling price is the highest achieved to date for run-of-mine Lace kimberlite diamonds and underlines the conservative nature of the $164-per-carat base case in the company's resource statement and financial models.”

The diamonds were sold to South African licensed diamantaires, who have the opportunity to bid for DiamondCorp’s stones during a four-day window while goods are being exported from the country to Antwerp for tender sale. If the reserve prices placed by DiamondCorp on the parcels are exceeded during this period, then the miner is obliged to sell the diamonds to the highest bidders rather than ship them, the company said.
Tags: DiamondCorp, Lace, Lace Diamond Mine, Rapaport News, Rough Diamonds, rough sales, South Africa
Similar Articles
© Copyright 1978-2021 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.