RapNet


Rapaport News

 

Mining

 
Rapaport Broadcast
Martin Rapaport’s Webinar on Estate Jewelry
October 30 2019

Advanced search
Latest Articles
Videos
Features
News
Mining
Rough Markets
Polished Markets
Manufacturing
Retail

Diamcor Hurt by Weak Rough Prices

Mar 2, 2017 5:52 AM   By Rapaport News
Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT...
Diamcor Mining’s sales declined 8 percent in the fiscal third quarter, the company said Wednesday, citing sluggish rough-diamond prices.

Revenue fell to $1.2 million (CAD 1.6 million) from the sale of 9,435 carats in the three months that ended December 31, the Canada-based diamond miner reported. The average selling price dropped to $125 per carat from $127 per carat a year earlier.

Prices achieved by the company during the period are “believed to be attributable to an overall weakness in the price of rough diamonds which continued throughout 2016, as compared to the prior years,” the company explained.

The company’s loss widened to $814,695 (CAD 1.1 million) from $296,807 (CAD 396,519) a year before.

During the nine months that ended December 31, sales jumped 72 percent to $4.1 million (CAD 5.5 million).

Diamcor sources its rough from the Krone-Endora at Venetia mine in South Africa.
Tags: Canada, diamcor, Diamcor Mining, Krone-Endora at Venetia, mining, Rapaport News, rough prices, South Africa
Similar Articles
Lucapa Lulo 150Lucapa Eyes Increased Share in Lulo
Nov 28, 2019
Lucapa Diamond Corporation is in advanced discussions withthe Angolan government to secure...
Emerald Demand Buoyant at Gemfields Rough Sale
Letšeng Yields Two Diamonds Above 100ct.
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First



Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
  
twitter twitter
About Rapaport
Advertise with us