Diamcor Mining says it sold 4,468.04 carats for more than $1,2 million or $270.39 per carat in the first quarter ending June 30, 2021, despite ongoing COVID-19 restrictions, which limited processing capacity.
The rough diamonds recovered from the processing of quarry material underway at the company’s Krone Endora at Venetia Project in South Africa continued to achieve strong dollar per carat averages throughout the quarter.
“These results continue to demonstrate our ability to achieve strong dollar per carat averages and to generate significant gross revenues, while currently processing material at lower volumes due to the global Pandemic,” said Diamcor chief executive Dean Taylor.
“With industry experts widely reporting on the current and potential long-term shortage of rough diamonds, we are very well positioned to take advantage of this trend through our planned increase in processing volumes.”
The company said about 1,500 additional carats, including several rough diamonds in the +10.8 specials category, were delivered as of 15 June.
These, along with the rough diamonds recovered to the end of June 2021, will be recorded as stock on hand at the end of the period and offered in the company’s upcoming second-quarter tender and sales.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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