DiamondCorp conducts first sale of Lace diamonds

DiamondCorp plc has conducted the first sale of diamonds it has recovered from tailings dump at the company’s Lace diamond mine in the Free State province of South Africa. The diamonds sold were of 6442.04 carats in total, for around $279,000 or $43 per carat, reports say.

First diamonds from the sale were sold to Laurelton Diamonds, Inc., the subsidiary of Tiffany & Co. under the Company's Offtake Agreement.

The sale included 5,026.72 carats recovered before and during the Lace recovery plant’s commissioning, while 1,415.32 carats were recovered after plant modifications. These diamonds of the post modification period included a coarser stone-size distribution and sold for $63/carat, reports say.