Stornoway Diamond has earned $48.5 million from the sale of 459,126 carats of rough diamonds in the first quarter of the year, according to a press release.
This is the first full operating period for the Renard Mine. Total diamond sales since the project began “now stand at 498,039 carats at an average price of $83 per carat, reflecting higher than expected efficiencies in the recovery of small diamonds and higher than expected diamond breakage experienced during processing ramp-up”.
Matt Manson, President and CEO, commented: “This quarter represents the first full operating period for the Renard Mine. Mining rates, development progress in the underground mine, and carat production all continue to exceed plan […] we are seeing positive trends in both the quality of our diamond production and in rough market pricing”.
