Diamond News Archives

(IDEX Online) -  Mountain Province bounced back from a loss of $18.3m last Q2 to a net income of $21.4m in the corresponding period for 2021.

The Canadian miner, which jointly operates Gahcho Kué (pictured), in Northwest Territories, with De Beers, agreed a short-term $33m loan last year with Irish billionaire Dermot Desmond, to ease its "near term liquidity needs". 

It has since recovered, with the return of global demand returns and the lifting of many Covid restrictions.

Stuart Brown, president and CEO said: "Gahcho Kue has rebounded well from a difficult start to the year, with production on-track to meet our guidance.

"The return to expected levels of production, combined with the strong market recovery we've seen in the first half of the year bodes well for our revenue and cash generation into the second half of the year."...

(IDEX Online) - Grib Diamonds sold $65m of rough at its tender in Antwerp, amid competitive bidding.

Highlight of the sale was a 7.0-ct stone (pictured) described as "purplish-pink or pinkish-purple", which sold for a company record of $100,000 per carat.

"Demand was strong, bidding competitive, prices remained overall flat, with some weakness starting to creep in to the bigger sized rough +5cts to 10cts range," said head of sales Antony Dear.

Grib, a subsidiary of AGD Diamonds, has been marketing diamonds from the Grib diamond pipe, 130km from Arkhangelsk, in north-west Russia, at spot market internet auctions since 2014. 

It sold a total of 650,000 carats at the tender last Thursday....