Namakwa Kao Tender Achieves $11.25 million

(IDEX Online News) – Namakwa Diamonds’ recent auction of rough diamonds from the Kao Mine in Lesotho achieved $11.25 million, or $384.25 per carat (p/c).

All 80 lots, totaling 29,278 carats, were sold at the tender, which took place in Antwerp through Fusion Alternatives. The average size of the goods offered was 0.20 carats.

The tender included an 88.54-carat D color stone, a 43.01-carat D color stone, a 1.72-carat yellow stone and a 0.70-carat vivid pink stone, all of which fetched "strong prices," according to the company.

The inclusion of a number of large and pricy items in the auction explains the high average per carat price, despite the small average size of the diamonds.

This was the eleventh tender of Kao production since January, and was the largest sale to date.

Altogether, Namakwa Diamonds has sold 167,450 carats from Kao Mine production, generating $49.55 million in revenue.