Sluggish market dents sales of Ghaghoo diamonds

Ghaghoo mine
Ghaghoo mine

Sales of diamonds recovered from Ghaghoo mine in the CKGR was depressed at an auction held this month due to the prevailing weak conditions in the market.

According to a statement released by Gem Diamonds yesterday, high inventory levels and continued liquidity concerns, coupled with global macroeconomic uncertainties, have continued to place pressure on rough and polished diamond prices, denting the realised price of commercial stones recovered at Ghaghoo mine.

Recovered grades from the mine in the six months ended June 30 fluctuated between 28 carats per hundred tonnes (cpht) and 30 cpht in May and June, while a second parcel of 29,891 carat of commissioning-phase production sold for $4.9-million, or $165/carat, in July in a ‘difficult market’.

Editor's Comment
CAF is a joke, but...

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