South Africa-based Namakwa Diamonds has announced that its recent sale of rough diamonds realized revenues of approximately $0.97m.

The company sold the diamonds at a tender undertaken between 18 February 2013 and 21 February 2013 at CS Diamonds in Kimberley.

Production from the North West Province, totalling 1,962 carats was sold at an average price of $496 for each carat with an average stone size of 0.50 carats.

Namakwa Diamond’s chief executive officer Theo Botoulas commented on the sale saying that the Tender provided satisfactory results with sale of few articles exceeding the expected premiums.

"We are pleased with the overall results achieved. Our North West product continues to receive a lot of interest from local and international buyers," Botoulas added.

The Group’s mining operations are focused on the Kao Mine in Lesotho, in addition to alluvial mining operations in the North West Province of South Africa and resource-development and exploration assets in the Northern Cape Province of South Africa.