Mountain Province Diamonds Inc. announced production and sales results for the first quarter ended March 31, 2021 from the Gahcho Kué diamond Mine.
1,392,128 carats were recovered, 16% lower than comparable quarter (Q1 2020: 1,655,121 carats), impacted by the unplanned 3-week operational stand-down in February.
Average grade was of 2.23 carats per tonne, a 22% increase relative to Q1 2020 (1.83 carats per tonne)
During the quarter, 602,773 carats were sold for total proceeds of $54.2 million (US$42.7 million) resulting in an average value of $90 per carat (US$71 per carat). This is a 6% increase relative to the average value per carat in Q4 2020 of $85 per carat (US$64 per carat), and a near-return to pre-pandemic levels seen in Q1 2020 (US$75 per carat).
The increase in average values and the positive product mix sold in Q1 reflected the growing price confidence across the rough diamond markets. Overall, on a like for like price book basis, compared to Q1 2020 company’s current average diamond value is now ahead of Q1 2020.
Alex Shishlo for Rough&Polished
Exclusive
Helga Pombal: Angola's Stardiam finds solution to the threat posed by lab-grown diamonds
Stardiam manager of production Helga Pombal told Rough&Polished's Mathew Nyaungwa on the sidelines of the Angola International Diamond Conference that lab-grown diamonds are creating a parallel market for more accessible stones, combined with lower...
11 november 2024
Ellah Muchemwa: ADPA to launch Africa's first diamond mining standard next year
The African Diamond Producers Association (ADPA), which is based in Luanda, Angola, and represents the interests of mainly African diamond producers and those with the potential to produce diamonds, will next year launch the Sustainable Development...
04 november 2024
Dmitry Fedorov: I want our jewelry to be displayed at a museum in the future
Dmitry Fedorov is the founder of the eponymous jewelry house. His main focus is the creation of Orthodox-inspired premium luxury jewelry of high artistic merit. He told Rough&Polished about his journey in the jewelry industry, about choosing the ‘Orthodox...
28 october 2024
Responsible business practices ‘no longer optional’, says WDC President Feriel Zerouki
The president of the World Diamond Council takes time out of her busy schedule to tell Rough&Polished readers about the critical work of the WDC. Zerouki, the first female present of the body, which includes all the important industry organizations among...
14 october 2024
James Campbell: Botswana Diamonds optimistic as it enters uncharted territory of using AI for mineral exploration
London-listed Botswana Diamonds has expressed optimism about the company’s use of artificial intelligence (AI) to scan the exploration database in Botswana to look for new mineralised deposits. Company managing director James Campbell told Rough...
07 october 2024
