BlueRock Diamonds PLC said the average price per carat received in its latest diamond tender was significantly higher than in 2021 partly due to the current geopolitical situation.
The average tender price was more than US$1,000 per carat in its March tender, up from the 2021 average of US$465 per carat. The average price also exceeded the US$600 per carat received in its January and February 2022 tenders.
“The market is obviously being influenced by the current geopolitical situation and this is partially reflected in our latest average tender price,” said executive chairman Mike Houston.
“However, the overall supply side of rough diamonds has been tight for some time and is very likely to remain so for the foreseeable future; we therefore anticipate strong ongoing demand for the high quality Kareevlei parcel of diamonds.”
The AIM-listed company, which owns and operates the Kareevlei diamond mine South Africa, sold four larger gem quality stones in the March tender.