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Mountain Province Diamonds’ £7m haul ‘strong and consistent’ with pre-pandemic sales

Mountain Province Diamonds

Canadian diamond mining company Mountain Province Diamonds has revealed the figures from its latest sale, labelling the results “strong and consistent with those seen earlier in the year”.

Total proceeds from the sale were US$8.9 million (£7 million) from 210,661 carats at an average realized value of US$42 (£33) per carat.

This, Mountain Province Diamonds said, indicates a 1% discount to values achieved for similar diamonds at the February sale.

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It added that travel restrictions into Belgium, where the sale was held, made this figure particularly significant.

It also marks the company’s first traditional commercial sale since February and the start of the pandemic. Its next sale event is scheduled to close on 31 October, 2020.

Stuart Brown, president and CEO, commented: “We are pleased to have finally resumed our traditional sales channels as the markets around the globe continue to gradually open for business.

“The results of the first small sale post the Covid-19 pandemic are an encouraging start considering that the market has been at a standstill for nearly six months. The results of the sale were a positive sign as the markets for rough and polished diamonds start to return.”

Tags : diamond salesMountain Province Diamonds
Sam Lewis

The author Sam Lewis

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