Quebec-based Stornoway Diamond’s Renard mine has reported higher prices for rough diamonds sold this quarter.
In two tenders, Stornoway earned $42.6 million. Rising rough diamond prices boosted the top line. The 350,159 carats sold earned $40.9 million at $87 per carat. This has increased from the last quarter’s average $81 per carat.
“We are particularly encouraged by the steady increase in pricing for Renard diamonds as the market familiarizes itself with our production,” said Stornoway Diamonds CEO, Matt Manson.
Since the mine’s first sale in November 2016, the average run-of-mine pricing for Renard diamonds has increased by 10 per cent.
