Diamondcorp (LON:DCP) has sold its first tranche of diamonds from the Lace mine in South Africa.
A Total of 8,648 carats of diamonds were sold through a combination of direct sales and competitive tender.
Diamondcorp said it was the first sale of kimberlite diamonds from the Lace mine since 1931.
Of the stones sold, 6,247 carats were diamonds greater than 1.25 mm in diameter and recovered from early ramp up work and they went for US$1.09mln or an average of $175 per carat.
Two special stones were included in the sale: a 22.11 carat diamond reported previously sold as an H coloured stone at $5,000 per carat and a 1.08 carat Type II purple stone which sold at tender for $6,363 per carat.
Diamondcorp said the purple diamond is an early indicator of the extra value that Type II and coloured stones can add to the Lace resource.
Production in the first three months of 2016 comprised 6,324 tonnes of K4 kimberlite at an average recovered grade of 36 carats per hundred tonnes (cpht), 8,327 tonnes of K6 kimberlite from ventilation tunnel development at average recovered grade of 8 cpht and 18,307 tonnes of tailings at an average recovered grade of 5 cpht.
Total diamonds recovered for the period were 3,438 carats.
Diamondcorp added it expects to hit production of 30,000 tonnes a month of kimberlite from July onwards.
Paul Loudon, chief executive, said: “We are extremely pleased with the level of demand shown for the Lace production and the prices we achieved in all size categories.
“Overall sentiment in the diamond market remains relatively positive compared to the end of 2015, and the price increases seen in January are being maintained.”