Kimberely Diamonds Is Set To Win Big As Diamond Prices Are Expected To Soar

Getty/ Frazer Harrison

With the price of diamonds expected to increase by 3-6% a year over the next decade, Kimberley Diamonds is sitting pretty after recording a boost in its listing price from 40c to $1 since mid-October .

Managing director Lee-Anne De Bruin told The Australian Financial Review the recent increase in the company’s share price came down to two things.

The first being that the mine operates on a cash flow-positive basis, and the second is that it has plenty of exploration upside.

The company was further encouraged by the third quarter results of world-renowned jeweller Tiffany’s which recorded a 50% increase in net profit.

The result is good news for the diamond miner which has a life-of-mine offtake agreement with the jeweller, providing the business with its majority of yellow diamonds.

Read more here.

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