Diamcor Mining’s revenue leaped to C$2.4 million ($1.9 million) in the three months ended June 30 from $445,047, a year earlier, Rough & Polished reports. Diamcor’s profit was $29,991 compared to the previous year’s loss of $550,106.
Diamcor, which operates the Krone-Endora at Venetia mining project, in South Africa, said increased efficiencies and processing volumes helped offset a decline in rough prices.
The average selling price dropped to $142 per carat from $159 per carat a year earlier, mainly due to an “overall weakening” in rough prices during fiscal 2017.
