Diamcor Reports "Excellent" Prices as it Recovers from Covid Closure
April 25, 21
(IDEX Online) - Diamcor achieved an average $278 per carat in its second tender of the year, after Covid forced the closure of its mine.
It said prices held firm, demonstrating its potential to generate "excellent" dollar per carat results from processing quarry material at the Krone-Endora mine at Venetia Project, in South Africa.
The Canadian junior miner acquired the deposit from De Beers in February 2011, and has a long-term strategic alliance and first right of refusal with Tiffany & Co's Canadian subsidiary.
The mine resumed operations last December after almost a year of Covid-enforced closure.
Diamcor sold 2,122.76 carats of rough in April, all but 242 carats in Dubai. The remainder were sold to the South African State Diamond Trader.
In February it generated $266,705 gross selling 1,452 carats from initial exercises, averaging $183 per carat.
CEO Dean Taylor said Diamcor was still operating below full capacity to keep costs down, but was committed to to increasing its processing volumes.
Pic courtesy Diamcor