Firestone diamond auction grosses P5.8m

Friday, September 16, 2011

Firestone Diamonds, the country's only other diamond producer after Debswana, sold stones worth P2.9 million from its fourth auction of the year that was held in Gaborone last week.

The gross proceeds were off 1,549 carats from Firestone Diamonds' BK11 Mine near Orapa and represent a decline from the company's July auction where 2,241 carats worth about P3.4 million were sold.

The diamonds sold at last Friday's auction attracted higher prices, with BK11 stones fetching an average of US$282 (P1.900)per carat compared to US$235 per carat in July. Liqhobong production sold for an average US$235 per carat, compared to US$123 per carat in July.

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