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Mountain Province Tender Yields $26M

Third sale of the year sees higher proceeds but lower average price.
Apr 24, 2018 4:02 AM   By Rapaport News
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RAPAPORT... Mountain Province’s sales increased at its April rough-diamond tender as a higher carat volume outweighed a weaker average price.

The miner sold 451,000 carats of rough from its Gahcho Kué mine for $26.4 million at an average of $59 per carat, it reported in a statement last week.

While total sales rose from $25.1 million in March, the average price was the lowest of the year. The February tender fetched $78 per carat, while the March sale achieved $142 per carat, as the company brought forward the sale of more expensive stones, known as fancies and specials, that it would otherwise have offered in April.

“Exceeding our expectations, [the results] indicate a positive year-on-year firming trend within diamond markets generally,” said CEO David Whittle.
Tags: David Whittle, Gahcho Kué, miner, mountain province, Rapaport News, rough-diamond tender
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