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Worth of gold and diamonds

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28 september 2020

Mountain Province Diamonds announces the results of its latest diamond sale

22 september 2020
         Image credit: Mountain Province

Mountain Province Diamonds Inc. has announced the preliminary results of its latest diamond sale in Antwerp, Belgium, which closed on September 19th, 2020, as per a press release from the miner. 
The latest sale represents the company's first traditional commercial sale since February and the start of the COVID-19 pandemic. It is important to note that these results do not include the sale of any high value fancy and special stones.
Total proceeds from the sale were $8.9 mn from 210,661 carats at an average realized value of $42 per carat, indicating a 1% discount to values achieved for similar diamonds at the February sale.
Despite COVID-19 restricting travel into Belgium, bidding was strong and consistent with those seen earlier in the year. The company's next sale event is scheduled to close on October 31st, 2020.
Stuart Brown, the Company's President and CEO, commented: "We are pleased to have finally resumed our traditional sales channels as the markets around the globe continue to gradually open for business. The results of the first small sale, post the COVID-19 Pandemic are an encouraging start considering that the market has been at a standstill for nearly 6 months. The results of the sale were a positive sign as the markets for rough and polished diamonds start to return."

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished