The world’s top diamond producer by value sold $575 million in its third sales cycle of this year, the highest since the fifth cycle of 2018, when it recorded $581 million.
The Riivos-built mining financial technology software helps them spend less time building spreadsheet models and more time optimizing their mine project economics.
Natural diamond supply is estimated to come off this year and continue to incrementally decline through at least 2021, which should be supportive of diamond prices and thus miners.
Iconic mines, including Ekati and Diavik are now old, tired and running out of diamonds; they will likely both close soon. So far, operations that were designed to replace them aren’t faring well either.
Next step is obtaining necessary regulatory approvals to start bulk sampling at the South African project, which is expected during the second quarter of the year.