Mountain Province reports strong demand for its diamonds

7th December 2021 By: Creamer Media Reporter

Canadian diamond miner Mountain Province has achieved sterling results in its December sale, reinforcing its confidence in a robust diamond market heading into 2022, president and CEO Mark Wall reported on Monday.

During the most recent December sale, 388 573 ct were sold for total proceeds of C$42.7-million ($33.3-million), resulting in an average value of C$11/ct ($86/ct). Including this sale, Mountain Province reported total proceeds of C$85.2-million for the fourth quarter, resulting in an average value of C$105/ct ($83/ct).

Total sales for 2021 were 3.16-million carats, for total proceeds of C$298.4-million, resulting in an average value of C$94/ct ($75/ct).

Wall said that the fourth-quarter performance was Mountain Province’s third-highest quarterly average per carat figure in its history and the highest since the first quarter of 2018.

Recent sales have seen unprecedented levels of demand for Mountain Province’s brown diamonds, lower qualities and smaller sizes as supplies from other productions, such as Argyle in Australia, are now largely absent from the market.