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Large Stones Drive Mountain Province Tender

Nov 19, 2018 6:04 AM   By Rapaport News
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RAPAPORT...
 Mountain Province’s average selling price rose at its November tender amid strong demand for higher-value goods and a slight improvement in the market for smaller rough.

The miner garnered $72 per carat from the sale of 245,751 carats of rough diamonds from its Gahcho Kué mine in Canada, bringing in a total of $17.7 million, it said last week. That compares with $66 per carat in October, when demand for smaller and lower-quality diamonds was weak.

“We continued to see good price bids [in November] for our better-quality, larger goods where the majority of our value lies,” the company said. “We saw a slight increase in the pricing for lower qualities and smaller sizes compared to our previous two sales.”

Attendance at the tender was above average for the year, as was the number of bids it received, the miner noted.

Mountain Province and De Beers, its partner in Gahcho Kué, bid for the right to sell large stones and fancies from each run of production. In November, De Beers won the right to sell those diamonds.

Image: Gahcho Kué mine. (Mountain Province)
Tags: De Beers, Gahcho Kué, mountain province, Rapaport News
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