Stornoway Diamond selling rough diamonds at a higher price

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Quebec’s Stornoway Diamond’s Renard mine sells rough diamonds for higher prices this quarter.

Last quarter, Renard mine was selling at $81 per carat whereas this quarter they managed to sell at $87 per carat, earning the company $40.9 million after selling 350,159 carats. “We are particularly encouraged by the steady increase in pricing for Renard diamonds as the market familiarizes itself with our production,” said the company’s CEO Matt Manson.

Since 2016, Renard mine has increased their prices by 10 percent.

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