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Price per carat increases almost 50% in a month for Mountain Province Diamonds

Mountain Province Diamonds

Mountain Province Diamonds (MPD) has revealed the results of its latest diamond sale in Antwerp, Belgium, its second since the start of the coronavirus pandemic.

Its first sale, on 22 September, saw total proceeds of US$8.9 million (£7 million) from 210,661 carats at an average realised value of US$42 (£33) per carat.

In the latest sale, 559,528 carats were sold for total proceeds of US$34.3 million (£26.5 million), resulting in an average value of US$61 (£47) per carat.

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This represents a near 50% improvement in the price per carat between the two sales, which were little more than five weeks apart.

MPD President and CEO, Stuart Brown, commented: “We are pleased with the result of our second post COVID-19 sale despite the ongoing challenges during the pandemic; the interest shown at the sale was excellent and drove the outstanding result.

“The continued recovery in diamond prices across the categories is positive for the company and indeed the industry.

“We are encouraged that a positive momentum is building as we enter the all-important traditional retail selling season.”

MPD is a Canadian diamond mining company that part-owns the Gahcho Kué diamond mine located in Canada’s Northwest Territories.

Tags : diamond pricesMountain Province Diamonds
Sam Lewis

The author Sam Lewis

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