Diamcor Mining sold 2,989.54 carats of diamonds from its Krone Endora at Venetia Project, in South Africa last month generating initial gross revenues for the quarter to date of $744,085.44, resulting in a combined average price of $248.90 per carat.
The company said the results confirm the potential for an increased average dollar per carat values from the operational and processing refinements made by the company, and from the recovery of larger gem-quality rough diamonds in the special category.
The initial sale of 1,560.39 carats of rough diamonds recovered from the processing of quarry material was tendered and sold in early July 2021, generating gross revenues of $271,509.02, and an average price of $174.00 per carat.
The second sale in late July of 1,429.15 additional carats of rough diamonds recovered from the processing of quarry material, generated additional gross revenues of $472,576.28, resulting in an average price of $330.67 per carat.
"We are once again pleased with these results, which continue to provide confirmation of our ability to achieve strong dollar per carat and gross revenue numbers while operating on lower volumes due to the COVID-19 Pandemic", said Diamcor chief executive Dean Taylor.
"Given these continued results, we are now focused on the previously announced objective of completing the first phase of upgrades. These upgrades are aimed at providing us with the potential to increase our current processing volumes by up to 100% prior to September 30, 2021…"
The company plans to offer additional rough diamonds during the quarter for tender and sale in August and September of 2021.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
Exclusive
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
Artur Salyakayev: For me, happiness is freedom to make my ideas happen and create valuable products
Artur Salyakayev is an art entrepreneur, founder of the International Jewelry Academy (IJA) and the INCRUA jewelry company. He has initiated and developed successful projects in jewelry industry and services sector. He is also a leading expert...
30 september 2024
