Namakwa Diamonds' rough tender from South African units raises almost $1M

Namakwa Diamonds reported that a tender of rough goods from its units in the North West Province of South Africa generated sales of $970,000.

The tender, which took place from February 18 to 21, was of 1,962 carats of rough stones of an average size of 0.5 carats. The average price per carat was $496.

Namakwa's Chief Executive Officer, Theo Botoulas, said: "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 main focus is on the Kao mine in Lesoth. Namakwa owns a 62.5 percent share in the operation which is operated by Storm Mountain Diamonds.