Namakwa Diamonds generates almost $1 million from tender of South African rough

A tender of rough goods from Namakwa Diamonds' subsidiaries in the North West Province of South Africa raised US$970,000.

The February 18-21 tender featured 1,962 carats of goods with an average stone size of 0.5 carats that were sold at an average price per carat of US$496.

Chief Executive Officer Theo Botoulas says: "The tender achieved satisfactory results with certain articles selling at above expected premiums.

"We are pleased with the overall results achieved. Our North West product continues to receive a lot of interest from local and international buyers."

Namakwa's mining activities are mainly focused on the Kao mine in Lesotho, where the main pipe represents 183 million tonne resource of around 11.6 million carats. Namakwa holds a 62.5 percent share in the operation which is operated by Storm Mountain Diamonds.