RAPAPORT… The average selling price for rough diamonds at Mountain Province’s most recent Antwerp tender surged to a record high, it said Wednesday.
The company brought in revenue of $41.4 million from the sale of 322,547 carats at the tender, which closed on February 25, translating to $128 per carat, it noted. Once the figure is adjusted based on the mix of goods sold, it represents a run-of-mine price of $126 per carat, the highest the miner has seen for rough from its Gahcho Kué mine in Canada since the inception of sales, it explained.
On a like-for-like basis, prices rose 13% over Mountain Province’s previous sale, which closed on January 21, it noted.
“We are pleased with the results from our February diamond sale,” said Reid Mackie, Mountain Province’s vice president and head of diamond sales and marketing. “We achieved a new price milestone and saw strong demand in the market for our…diamonds.”
Image: A rough diamond. (Mountain Province)
Mountain Province Scores Record Average Price
The Bottom Line
- Mountain Province generated $41.4 million from selling 322,547 carats at its February 25 Antwerp tender.
- The average selling price reached $128 per carat, marking the highest run-of-mine price of $126 per carat from its Gahcho Kué mine.
- Prices increased 13% compared to the previous sale held on January 21.
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