BlueRock sells four diamonds for greater than $100 000 each
Aim-listed diamond producer BlueRock Diamonds, which owns and operates the Kareevlei diamond mine, in Kimberley, South Africa, sold four gem-quality diamonds in the February tender for $460 000, thereby taking the total average price to $638/ct – 37% higher than it was in 2021.
The average tender price of the total parcel of $638/ct was significantly above the 2021 average of $465/ct, following a strong January tender, which had an average price of $565/ct.
CE Mike Houston says the company is experiencing “very high” demand for Kareevlei’s diamonds. “I believe this is the first time we have seen four diamonds selling for an average of over $100 000 [apiece] in a single parcel.”
He adds that the “exceptional” average price per carat is reflective of the strong retail market conditions and a tightening supply of high-quality rough diamonds such as those recovered at Kareevlei.
“The current geopolitical environment could create further shortages of rough diamonds,” he remarked.
BlueRock’s share price on the LSE rose by nearly 10% to 44.5p a share on Friday morning, following the release of its sales update.
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