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Production Drop Hits Diamcor Sales

Dec 2, 2018 9:55 AM   By Rapaport News
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RAPAPORT... Diamcor’s sales fell in the second fiscal quarter as lower production at its mine in South Africa resulted in reduced availability of goods.

Revenue dropped 45% to $726,588 in the three months ending September 30 compared to $1.3 million in the same period a year ago, the miner reported Thursday.

Rough-diamond recovery from the Krone-Endora at Venetia asset fell, the company said. However, the average selling price increased 62% to $278 per carat versus $172 per carat last year as the company unearthed and processed larger sizes, yielding a number of higher-value rough diamonds from 10.8 carats to 20 carats, it added.

Image: Sorted rough diamonds. (Diamcor)
Tags: diamcor, Krone-Endora at Venetia, mining, Rapaport News, Rough Diamonds, South Africa
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