Mountain Province ‘turns a corner’ as diamond prices soar

A low share price and liquidity gap are still causing concerns for Dermot Desmond’s mining firm, its chief executive has told investors

Dermot Desmond had to assist his firm Mountain Province Diamonds financially when it was in difficulty. Picture: Getty

Jonathan Comerford, Dermot Desmond’s right-hand man in Mountain Province Diamonds, has told investors the company has “turned a corner” as diamond prices have risen 40 per cent on pre-Covid-19 levels.

Desmond’s diamond mining company last week announced total sales for the nine months to the end of September of $213.2 million, compared to a figure of $146.8 million in the same period in 2020. This left it with a pre-tax profit of $98.2 million compared ...