DiamondCorp sold diamonds from its suspended Lace mine, raising nearly $591,000, but the sales were marked by the lack of large, gem-quality diamonds. Cash-strapped DiamondCorp, which has placed its new mine near Kroonstad in the Free State in a business rescue process, said it had put 5,116 carats up for tender in Johannesburg. The rough diamonds were mined before the underground kimberlite mine flooded in a heavy downpour of rain and a critical drilling machine was swamped and seriously damaged, putting it out of commission for about three months. DiamondCorp said the parcel of diamonds had five stones bigger than 10-carats in size, but these were not of gem quality or had cracks in them or blemishes that reduced their value. The diamonds sold for an average $115.46 per carat, which is below what DiamondCorp had set for an annual target from the mine. "As a result of this sale, the average carat value achieved for the year has fallen to $146/carat, 11% lower than the $164/carat fo...
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