Ekati diamonds remain highly valued, says Burgundy
Despite a softer market for rough diamonds, product from the Ekati mine, in Canada, continues to generate strong buyer interest and high sell-through rates, new owner Burgundy Diamond Mines reports.
“The quality of the Ekati product and Canadian provenance remain highly valued in the market,” Burgundy said, noting that the increased focus on provenance and traceability was highlighted by the ongoing efforts of the G7 sanctions to restrict the flow of Russian goods.
The ASX-listed firm on July 1 concluded the acquisition of Ekati and has now fully integrated Burgundy Diamond Mines and the Arctic Diamond group of companies.
During the third quarter, 784 681 ct were sold for total proceeds of $91.2-million, fetching an average of $116/ct. This compares with 901 579 ct sold for proceeds of $80.9-million, with an average selling price of $90/t.
The reduction of relative volume decline reflects the company’s decision to hold back certain segments of lower value rough diamond goods, where there was less demand in the current market environment. Burgundy said it would sell these goods when market conditions were better suited.
The company has four remaining auction sale events in the upcoming quarter, including one for special stones that will be held in December.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation