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Weaker Market Weighs on Stellar’s Baoulé Sales
Jul 11, 2016 7:03 AM
By Rapaport News
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RAPAPORT... Stellar Diamonds said the average selling price declined at
its latest auction of rough from the Baoulé mine in Guinea due to a weaker
market and a lower-quality product mix.
The online auction in June achieved an average price of
$72.65 per carat, fetching $228,000 in total. The parcel almost entirely comprised
stones from the smaller Western lobe, which contains lower-quality diamonds compared
with those from the Eastern lobe.
An auction of Baoulé goods in March garnered $91.05 per
carat, a drop from $156 per carat from a sale in May 2015.
However, higher-quality gem diamonds achieved “strong”
prices at the June sale, with two 5-carat diamonds fetching more than $3,500
per carat, said Stellar, which owns 75 percent of the mine.
The auction brings total sales from a 100,000-tonne bulk
sample exercise to $1.23 million.
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Tags:
Baoulé, Baoulé mine, Guinea, Rapaport News, stellar, Stellar Diamonds
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