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Stellar Diamonds kicks off auction in Antwerp; sells first stones from Baoulé mine

Stellar Diamonds kicks off auction in Antwerp; sells first stones from Baoulé mine

Stellar Diamonds (LON:STEL) has started to sell its first precious stones from its Baoulé mine in Guinea.

A diamond tender of 6,031 carats began in Antwerp this morning, the centre of the world diamond market.

In total, the auction consists of over 2,200 carats from Baoulé and 3,800 carats of inventory taken from other projects.

Viewing is expected to run for two weeks, after which the firm will consider final bids.

Stellar’s Tongo mine, in Sierra Leone, is currently going through the feasibility stage.

Together with Baoulé and resources at its other projects, the company wants to build a resource base of 7.5mln carats, which it estimates would have an in-situ value of US$1bn.

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