Bank of America expects demand to hold firm next year and only sees a surplus in 2023.

Total consideration for the three royalties was $4.9 million.

The diamond sector may be a volatile industry, as its dramatic ups and downs during the pandemic have demonstrated.

A spike in presumptive covid-19 cases at its operations in Nunavut has prompted Agnico Eagle Mines to send home its Nunavut-based workforce and temporarily ramp down operations for the remainder of the year.

The price fell on Wednesday as concerns over covid-19 curbs and the approaching off-season for construction activity in China soured sentiment.

Ivanhoe's production guidance for 2021 was set at 92,500-100,000 tonnes.

The gold giant will exercise its option over a further 5% of the Havieron project in in the Paterson region of Western Australia.