42-Carat Diamond Nets Tango Mining Nearly a Half Million, or $11,267 Per Carat

Mining and Exploration
31/07/2018 17:36

Canadian diversified junior mining company Tango Mining has sold a 42.26 carat diamond recovered from run of mine (ROM) gravel in the alluvial Oena Diamond Mine in the Republic of South Africa for $476,143, or $11,267 per carat, on tender at the Kimberley Diamond Exchange. 

During the most recent production period, ending 19 July 2018, an additional 125.87 carats (82 diamonds) were produced from ROM, placed on tender and sold with an average price of $945 per carat. This includes a 10.48 and a 7.17 carat diamond which sold at $2,374 and $3,600 per carat respectively. Total diamond production was 168.13 carats (83 diamonds), from 37,020 tons of ROM material processed during the most recent production period.

Diamond production from Oena, since acquisition, including production from both ROM material as well as pan tailings and bantam material, now totals 2019 carats. These diamonds have been sold at an average price of $1,290 per carat and highlights the production history of Oena which is known to produce high quality and large sized diamonds.