Canadian diamond mine sells first parcel

Aber Diamond Corp. Toronto, said Wednesday it sold its first parcel of diamonds from the Diavik mine in the Northwest Territories for $4.1 million.

Diavik is Canada’s second diamond mine, continuing the growth of an industry expected to become one of the world leaders in upcoming years.

An Aber news release said the total sale of 42,619 cts. of diamonds fetched an average price of $96.22 a carat. Tiffany & Co. bought 23% of the first parcel, with the rest sold through the Antwerp, Belgium open market.

“It is the first sale under a 10-year agreement through which Tiffany will purchase a minimum of $50 million per year in Tiffany’s exacting standards of color and clarity,” the company said.

The Diavik diamonds project is an unincorporated joint venture between Diavik Diamond Mines, which holds 60%, and Aber Diamond Mines, which holds the rest.

Diavik Diamond Mines is a subsidiary of Rio Tinto PLC of London, and Aber Diamond Mines is a subsidiary of Aber Diamond Corp.