BlueRock Diamonds PLC (LON:BRD) has announced the sale of a 14.8 carat stone for US$167,000, equating to a price per carat of US$11,300.
The stone’s discovery and recovery from the Kareevlei mine in South Africa was reported on December 21, 2020. A 8.7 carat stone, which was found at the same time, was sold for US$37,000, or US$4,300 per carat.
READ: BlueRock boosts overall production at Kareevlei
"These diamonds were sold, along with our other production, through tender, the first one that we have participated in since the advent of COVID-19,” said Mike Houston, BlueRock executive chairman in a statement.
“The general results of the tender were very positive and support the recent industry news suggesting that diamond prices are recovering well. This is the third large stone recovered in Q4 2020 with an individual value of greater than USD50,000, which I hope marks a return to normality now that we have developed the Main Pit."
Earlier this month, BlueRock told investors that it had boosted production at its Kareevlei mine during 2020.
Processed tonnes increased by 25% compared with the previous year, despite the mine being closed for 50 days due to COVID-19 - adjusted for only operational days, the mine’s run rate would be up 45% on 2019.
Value per carat of US$295 was around the bottom-end of the company's guidance for 2020 and 26% down on 2019, due largely to the impact of the coronavirus on the marketing chain and the reduced incidence of higher value diamonds in 2020 compared with 2019.