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.
Author: Canadian Jeweller Magazine Staff
Canadian Jeweller Magazine Staff is the shared byline for reporting filed by the magazine's editorial desk. Founded in 1879, Canadian Jeweller is the longest running jewellery business publication in Canada, covering market reporting, retail strategy, watches, diamonds, coloured gemstones and the commerce of the Canadian jewellery trade. Work published under this byline is edited and verified by the Canadian Jeweller editorial team in Toronto.
