Surging Demand Propels Ekati Rough Sales to New Heights

Experiencing a robust surge in demand, Ekati witnesses a remarkable upswing in rough diamond sales, reflecting a thriving market for its exceptional offerings. The surge underscores Ekati's continued prominence and appeal in the diamond industry
Surging Demand Propels Ekati Rough Sales to New Heights

Burgundy Diamond Mines reported a substantial surge in revenue from Ekati deposit's rough diamond production during the fourth quarter, with sales rising 37% year on year to $166 million by December 31. Despite a 2% drop in the average price to $93 per carat, sales volume increased by 41% to 1.8 million carats.

Burgundy CEO Kim Truter highlighted the strong customer demand during the quarter's four oversubscribed auctions, underscoring the company's robust position with a healthy cash balance for upcoming activities at Ekati, including mine life extension efforts.

The Ekati mine was acquired by Burgundy from Arctic Canadian Diamond Company for $136 million in March.

Diamond World