All Parcels Sold at Gahcho Kué Tender

Toronto: Mountain Province sold 277,646 carats of rough diamonds at its second tender of production from the Gahcho Kué mine in Canada.

The company sold all the parcels of diamonds on offer, including those it had held over from its January sale due to India’s liquidity crisis, Mountain Province said. While that previous sale of 49,420 carats fetched $6.3 million at an average price of $127 per carat, the miner did not disclose the dollar value of its second tender.

A third sale of about 193,900 carats is scheduled for later this month. Production at Gahcho Kué started in September, with the mine reaching commercial production last week. Mountain Province owns 49 percent of the project, with De Beers holding the rest.