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Stellar Diamonds announces its first diamond exports from Baoulé
The diamond parcel was of 941 carats exported to Antwerp
By: Diamond World News Service
Dec 6 2014 1:07PM
Reference: 10913  

London listed diamond development company - Stellar Diamonds plc, announced its first export of diamonds from its 75 percent-owned five hectare Baoulé kimberlite pipe in Guinea. There was a parcel of Diamond parcel of 941 carats exported to Antwerp with sale expected in near future, after cleaning, assorting and valuation to test the market for the product.

The parcel includes gem diamonds of 9.2, 5.5, 5.1, 4.7 and 4.3 carats in size.

“This first diamond export from Baoulé is a milestone for the Company ahead of realising our first cash-flow which is expected when the goods are sold in the near future. Trial mine production is progressing very well and we have now reached our target processing capacity that at existing grades could yield monthly production of 2,000 carats per month if maintained. We anticipate a diamond export and sale every two months during 2015,” said Stellar Diamonds Chief Executive Karl Smithson. He noted further ““We are particularly pleased with the regular occurrence of gem quality stones of up to 9 carats in size from the limited processing to date.”

The company has produced 1,206 carats (+1.25mm) to date with an average grade of 15cpht, which included over 85 diamonds of over 1 carat.

The export to Antwerp was conducted in accordance with the Kimberley Process Certification Scheme along with export royalties paid in Guinea as per the local mining law.

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