Mountain Province Diamonds Inc. announced production and sales results for the full year ended December 31, 2021 from the Gahcho Kué Diamond Mine.
Full-year 2021 production of 6.23 million carats against the guidance of 6.30 - 6.50 million carats.
During FY 2021, 3,158,418 carats were sold at an average value of $94 per carat (US$75 per carat) for total proceeds of $298.4 million (US$236.9 million) in comparison to 3,329,289 carats sold at an average value of $68 per carat (US$51 per carat) for total proceeds of $227.0 million (US$171.3 million) in FY 2020.
Sentiment in the rough diamond market continues to be buoyant. Strong diamond jewellery sales during the holidays and lower rough diamond supply volumes from the major producers are expected to maintain this positive momentum through to the company's upcoming January sale.
Medium to longer-term, the company's outlook for rough diamonds remains positive. Retail diamond jewellery sales in the important US market confirm a growing preference for smaller, lower-priced diamonds which align well with the diamond profile of the Gahcho Kué Mine.
The closure of the Argyle diamond mine combined with reduced global rough diamond production is expected to further support prices as demand to replenish inventories of these diamond categories continues, the company's press release says.
Alex Shishlo for Rough&Polished
Exclusive
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
Paul Zimnisky: China key for sustained recovery in demand for natural diamonds, prices
The curtailing of upstream and midstream natural diamond production in the past months is starting to have an effect on prices, according to the New-York-based independent diamond and jewellery analyst and consultant, Paul Zimnisky. He told Rough & Polished’s...
23 september 2024
