Diamcor sells rough diamonds for $882.95/ct

Diamcor Mining sold 1,836.52 carats of rough diamonds recovered from the processing of quarry material from Krone-Endora at Venetia Project in South Africa for more than $1,6 million.
This resulted in an average price of $882.95 per carat.
It said a 59.35-carat special rough diamond was part of the stones sold, which enhanced the overall average dollar per carat achieved in the second tender and sale of the second quarter.
In total, 3,776.33 carats have now been sold in the current quarter to date, generating gross revenues of about $2,1 million resulting in an average price of $556.08 per carat.
The gross revenues in the current quarter represent a 276% increase from the gross revenues generated in the previous quarter ending June 30, 2022.
Diamcor chief executive Dean Taylor said the company achieved strong results at the tender and sale, despite dealing with the significant challenges of operational interruptions and the resulting lower processing volumes caused by the rolling blackouts implemented by South Africa’s national power supplier, Eskom.
“The revenues achieved confirm the potential and value of recovering large gem-quality rough diamonds in the specials category, and with the country’s power supply now appearing to have stabilized, we look forward to increased processing volumes through to the end of this year and the potential of recovering additional large rough diamonds in the specials category,” he said.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished