https://newsletter.mw.creamermedia.com
Diamonds|Environment|Flow|Flow
Diamonds|Environment|Flow|Flow
diamonds|environment|flow-company|flow-industry-term

Ekati diamonds remain highly valued, says Burgundy

The Ekati diamond mine

The Ekati diamond mine

31st October 2023

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

Despite a softer market for rough diamonds, product from the Ekati mine, in Canada, continues to generate strong buyer interest and high sell-through rates, new owner Burgundy Diamond Mines reports.

“The quality of the Ekati product and Canadian provenance remain highly valued in the market,” Burgundy said, noting that the increased focus on provenance and traceability was highlighted by the ongoing efforts of the G7 sanctions to restrict the flow of Russian goods.

The ASX-listed firm on July 1 concluded the acquisition of Ekati and has now fully integrated Burgundy Diamond Mines and the Arctic Diamond group of companies.

During the third quarter, 784 681 ct were sold for total proceeds of $91.2-million, fetching an average of $116/ct. This compares with 901 579 ct sold for proceeds of $80.9-million, with an average selling price of $90/t.

The reduction of relative volume decline reflects the company’s decision to hold back certain segments of lower value rough diamond goods, where there was less demand in the current market environment. Burgundy said it would sell these goods when market conditions were better suited.

The company has four remaining auction sale events in the upcoming quarter, including one for special stones that will be held in December.

Edited by Creamer Media Reporter

Comments

Showroom

SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)

Education: Consulting with member companies to obtain the optimal benefits from their B-BBEE spending, skills resources as well as B-BBEE points

VISIT SHOWROOM 
VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (29/11/2024)
29th November 2024 By: Martin Creamer
Magazine video image
Magazine round up | 29 November 2024
29th November 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.391 0.475s - 144pq - 2rq
Subscribe Now