Canadian diamond miner Mountain Province has seen confidence among rough diamond buyers return, spurring hope that a rebound is taking hold in an industry that has been crippled by the global pandemic.
“The first sale of the year was excellent,” said CEO Stuart Brown. “The growing confidence among rough diamond buyers translated into a healthy price improvement of 8% on a like-for-like basis when compared to our record high volume December sale.”
Mountain Province has netted C$278-million, an average of C$115/ct in its first sale of 2021, with 241 827 ct going up for sale in Belgium.
“We expect to see a continuation of the positive trend as rough and polished markets continue to strengthen post a successful retail season,” Brown noted.
Looking ahead, the upcoming February sale would also include, among other high value diamonds, the recently recovered 157 ct diamond. Named "Polaris" after the North Star, this exceptional diamond exhibits a rare natural blue fluorescence that echoes its Arctic origins.
The Polaris diamond appears colourless in daylight, but under ultraviolet light its deep blue colour – reminiscent of the northern lights seen overhead on clear winter nights in the Canadian Arctic.
Mountain Province is a 49% participant with De Beers in the Gahcho Kué mine in Northwest Territories.