Guinea: Stellar generates $ 228,000 in latest diamond sales
Wednesday, 06 July 2016 23:04
(Ecofin Agency) - Stellar Diamonds, which operates the Tongo (Sierra Leone) and Baoulé (Guinea) projects generated a total of $228,000 from its latest diamond sales auction. Diamonds sold come from its Baoulé mine at an estimated average price of $72.65 per carat.
The firm said the reason for this price being lower than in previous sales was the weakness presently characterizing the raw diamonds market and the low quality of diamonds coming from the western lobe. However, high-quality diamonds generated more than previously, with two 5ct stones sold for more than $3,500/ct average.
Stellar Diamonds holds a 75% stake in Baoulé which includes a 5 ha kimberlitic pipe, located in the Aredor region. Besides this project, the firm also detains the Djrouba and Katcha projects.
Louis-Nino Kansoun
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