Kao Rough Tender Achieves Average of $286 per carat

(IDEX Online News) – The latest tender of goods from Namakwa Diamonds' Kao mine in Lesotho saw the sale if all 51 lots on offer, totaling 14,495 carats. The average price achieved was $286 per carat.

The tender was conducted in Antwerp by Fusion Tenders, in cooperation with I. Hennig & Co.,

“We are very pleased to have yet again achieved a successful sale of the KAO mine production in Lesotho," said Fusion Alternatives CEO Adam Schulman. "Once again, under challenging market conditions we have proven ourselves capable of achieving excellent results.”

Speaking about the results, Arik Sela, Hennig’s MD said it was “a direct reflection of the quality of the bidding companies as well as the good match between their areas of expertise and the footprint of the KAO mine production.”

Theo Botoulas, CEO of Namakwa Diamonds said the prices achieved at the tender were ahead of initial expectations.

Since January 2012, the company has sold 87,011 carats from Kao production in eight tenders, generating $24.6 million in revenue.