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Mountain Province nets US$24.2M from 8th diamond sale of 2018

Mountain Province Diamonds Inc. said Oct. 18 that it fetched US$24.2 million from its eighth diamond sale of the year.

The company sold 366,505 carats at an average realized price of US$66 per carat.

The sales were in line with the expectations, with good bids for the better-quality, larger diamonds while seeing average price declines in the mid-single digits for the lower qualities and smaller sizes.

Mountain Province owns a 49% interest in the Gahcho Kué joint venture in Canada's Northwest Territories, with De Beers SA holding the remaining 51%.