Diamcor Mining has recovered a 72.53-carat gem-quality rough diamond from the processing of quarry material at its Krone-Endora at Venetia Project in South Africa.
The special rough diamond is currently being offered for tender and sale in Dubai and is expected to offset the lower-than-expected total carats sold in the initial sale of the quarter.
“The recovery of yet another larger gem-quality 72.53-carat rough diamond demonstrates the project’s continued potential to contain these higher-value rough diamonds even while operating below the project’s processing capacity,” said Diamcor chief executive Dean Taylor.
Meanwhile, the company sold 1,466.12 carats of rough diamonds during the current quarter, generating gross revenues of $294,696.73, resulting in an average price of $201.00 per carat.
Diamcor recovered about 1,500 carats of rough diamonds during this period which are currently being held as stock on hand.
“These rough diamonds, along with additional rough diamonds recovered prior to March 31, 2023, will either be tendered and sold in the quarter’s final tender and sale, or held as stock on hand at the end of the current period, and tendered in the company’s next quarter,” it said.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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