Gahcho Kue prices soar to $95/carat

Mountain Province Diamonds has recorded its highest average price to date at the Gahcho Kue mine, acquiring $21.1 million at its June sale.

The company’s stones garnered $95 per carat at the auction. This was the fifth tender of rough diamonds from the mine. Previously, stones were priced at $72 per carat in the first three sales, and $86 per carat at the fourth.
This tender’s high prices stemmed from the sale of some fancy and special stones, for which Mountain Province had successfully bid against its mining partner, De Beers. The rest of the high-calibre stones will be available at the July sale.

 

Other than the higher-value stones, the average selling price was $75 per carat.

“Very positive prices were realized on the fancies and specials, and prices realized on the remainder of the offering also exceeded expectations,” says Mountain Province.

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