Listed Mining Companies
JOHANNESBURG (miningweekly.com) – Aim-listed diamond producer Pangea DiamondFields on Tuesday reported that its recent sale of diamonds from the Cassanguidi project, in Angola, had yielded an average price of $147,50ct.
The company had sold around 1 964 ct, and the average price achieved represented about 82% of the company’s target price of $180/ct, which was set prior to the fall in diamond prices. The price achieved was also in excess of the currently budgeted level of 70% of the target price, the company stated.
“The price obtained for this parcel represents a significant improvement in rough diamond prices in Angola, adding credence to our expansion of this project,” said Pangea CEO Boris Kamstra.
“Our team on the ground is making good progress towards bringing this project to full production, despite seasonally adverse weather and the usual logistical challenges. At present, the project is still on track to be at full capacity by year-end.”
