Kimberley Diamonds Reports Diamond Sale Increase

The Australian company, Kimberley Diamonds, reports that it produced 385,000 carats of rough at the Ellendale 4 and Ellendale-9 mines during the first half of the fiscal year. The diamonds were sold for an average price of $134 per carat.

The company`s total revenue from diamond sales came to $62.2 million as compared to $35.8 million during the same period last year. The cost for producing the diamonds that were sold came to $74.1 million as compared to $36 million a year ago. Bottom line, the company`s losses soared from $13.1 million to $31.8 million.