Average Prices Strong at Diamcor Summer Tenders

RAPAPORT… Diamcor Mining garnered $1 million from three rough tenders held during July and August, as overall demand and pricing exceeded expectations.

The company sold 4,330 carats of rough from its Krone-Endora at Venetia deposit in South Africa at an average price of $236 per carat, it said last week. That included several special-size diamonds — weighing over 10.8 carats — Diamcor noted.

The miner held two tenders in July, with the first garnering $271,509 from the sale of 1,560 carats of rough, translating to an average price of $174 per carat. The second tender yielded $472,576 from the sale of 1,429 carats at an average price of $331 per carat. At its final tender, which took place in August, Diamcor achieved $301,813 from the sale of 1,341 carats, registering an average price of $225 per carat.

“We are pleased with the continued strong dollar per carat and gross revenue numbers being achieved during the quarter, despite currently operating on lower volumes due to the Covid-19 pandemic,” said Diamcor CEO Dean Taylor. “With the completion of our…upgrades remaining ahead of schedule, we look forward to a potential increase in sales in the coming months. Now in the final stage of commissioning, the upgrades are targeted to increase processing volumes by up to 100%.”

Image: Rough diamonds. (Diamcor Mining)