Diamcor Mining sold 4,326.56 carats of rough diamonds during the reporting period ended September 30, 2021, generating revenue of just above $1 million for an average price of $226.64 per carat.
The diamonds were recovered from ongoing trial mining exercises at the company’s Krone-Endora at Venetia project in South Africa.
The company sold 169,574 carats of rough diamonds from the beginning of the year to the end of September generating revenue of $29,2 million, resulting in an average of $171.95 per carat.
Meanwhile, Diamcor recorded a net loss of $525,876 for the interim period ended September 30, 2021, resulting in a $0.01 per share loss.
“The government of South Africa continued with a reduction of some of the remaining restrictions of the mandated COVID-19 shutdown during the quarter, and the company plans to continue to operate with due consideration to maintaining a focus on reduced costs given the uncertain circumstances associated with COVID-19,” it said.
Diamcor also resumed work on its pre-COVID-19 plans for a two-phase expansion of processing facilities, with the first phase aimed at doubling the current processing volumes targeted for completion by September 30, 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...
Yesterday
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
