Brazil Minerals Inc. has opened its own diamond cutting and polishing plant in Brazil, which is mined by its subsidiary Mineração Duas Barras Ltda (Duas Barras), Rapaport reports. This year the mining company began to increase the production of diamonds in order to ensure a higher income due to the sale of diamonds.
It is assumed that the new enterprise will have a cutter with more than 20 years of experience, reported Brazil Minerals. His team will include an assistant and office workers.
The federal government granted Brazil Minerals licenses permitting the export of both diamonds and diamonds obtained from Duas Barras. Since the beginning of this year, the company has reported the sale of diamonds network of jewelry stores in Brazil.
In 2013, the first year since the start of diamond mining, Duas Barras registered revenue of $ 791,780, 69% of which provided diamond sales, and the remaining 31% - sales of gold. Since early 2014, Brazil Minerals has conducted forward sales of diamonds worth $ 1.03 million.