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Mountain Province Sets New Price Record

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Mountain Province announced on Wednesday that the average selling price for raw diamonds at the company's most recent Antwerp tender had risen to a record high.

According to the business, the sale of 322,547 carats at the tender, which ended on February 25, generated income of $41.4 million, or $128 per carat, resulting in revenue of $41.4 million. Once the value is adjusted to account for the mix of items sold, it represents a run-of-mine price of $126 per carat, according to the miner, which is the highest price it has ever seen for rough from its Gahcho Kué mine in Canada since the mine began selling the precious metal in 2007.

According to Mountain Province, prices increased by 13 percent on a like-for-like basis when compared to the previous sale, which ended on January 21.

In a statement, Mountain Province's vice president and head of diamond sales and marketing Reid Mackie stated that the company was happy with the results of its February diamond sale. “We achieved a new price milestone and saw strong demand in the market for our...diamonds.”

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