DFI Sells Namibian Diamonds for Average $203 per Carat

Diamond Fields International Ltd says it recently sold 1,356 carats of diamonds at an average price of $203 per carat, for a total gross sale of $275,268.

The firm said the price was in line with the average price of $205 per carat for sales during the first half of its 2005 fiscal year, and is well above the $146 per carat average price received in fiscal year 2004.

The sale included 1,296 carats of rough diamonds, sold for an average price of $205 per carat, produced by Diamond Field's ship mv DF Discoverer off the coast of Namibia during commissioning and initial operations through June 26. The remainder consisted of a small quantity of previously recovered stones which sold for $165 per carat.

Gregg J. Sedun, President and CEO of Diamond Fields, said: "This initial sale of production from our own ship is a significant milestone for our Company. Moreover, the high price received is very encouraging, as it demonstrates a continued strong market for Diamond Field's high-quality Namibian product."

By comparison, Lev Leviev’s LLD recently reported problems with diamond finds at his Namibian marine mining operations and has turned to De Beers for larger stones to supply its polishing plant in the Namibian capital of Windhoek.