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The mining license for Aappaluttoq was transferred after True North Gems entered into voluntary bankruptcy last fall.
The market saw its 4th consecutive year of growth, benefiting from its favorable pricing compared with gold.
Gem Diamonds recovered the stone and also recently sold a 114-carat diamond and a nearly 9-carat pink from the same mine.
The diamond miner and marketer sold $520 million in rough diamonds in the fourth sales cycle of the year, compared to $636 million in the same period last year.
Pallinghurst Resources wants to buy the 53 percent of the colored gemstone miner it doesn’t already own.
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