Burgundy Diamond Mines has reported a significant rise in demand for mid- and large-size rough diamonds during its final sales of the year. The company, which operates the renowned Ekati mine in Canada, generated $93 million in revenue during the fourth quarter, driven by strong performances at its October and December tenders.
Impressive Sales Results for Q4
At the October sale, Burgundy sold 583,000 carats at an average price of $80 per carat, earning a total of $47 million.
In December, the company achieved an even higher average price of $106 per carat, selling 435,000 carats for a total of $46 million.
These results mark a notable improvement over the previous quarter ending June 30, when the company averaged $103 per carat.
Market Recovery Signals
Burgundy CEO Kim Truter highlighted the positive market trend:
“Ekati’s product sold well this quarter, achieving $106 per carat in the latest sale. While this reflects a higher-quality parcel of goods sold, we’re seeing steady gains in the mid- to large-size categories compared to October.”
Truter added that these figures suggest a recovering diamond market, with demand for larger stones indicating renewed buyer confidence.