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Diamcor pockets over $860k from tender of SA diamonds

15 december 2017
Diamcor Mining said it sold 4 353.91 carats of rough diamonds from Venetia project’s Krone-Endora in South Africa for $864 546, recording an average price of $198.57 per carat.
Of the total rough diamonds tendered and sold, three individual rough diamonds were in the specials category of +10.8 carats with the largest being 25.02 carats.
The increase in the average dollar per carat was attributable partially to the quality of the 25.02 carat rough diamond sold and demonstrated the positive impact that larger rough diamonds can have on the company’s revenues.
However, Diamcor said the lower number of carats tendered and sold was attributable to a reduction in the volume of material being processed due to water recovery issues associated with excessively suspensive properties of the very fine kimberlitic clay materials, along with a shorter time frame between tender dates during the quarter.  
“Despite the limited processing volumes, the project continued to demonstrate its potential for the recovery of larger rough diamonds,” said Diamcor.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished