Dermot Desmond’s diamond sales fall short of expectations

Mountain Province had its highest ever first quarter revenue but sold fewer carats, according to the company’s chief executive

Mountain Province had higher revenues but got less value per carat than last year. Picture: Mike Egerton

Diamond sales for the first quarter of 2023 have “not met my expectations”, according to Mark Wall, the chief executive of Dermot Desmond’s Mountain Province mining company.

The company had sales of CAN$128.7 million (€87 million), which is the highest first-quarter revenue for the company to date but it got lower return per carat sold than in 2022 when it made sales of €57 million. In the same period in 2022, the company sold 506,567 ...