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Alrosa
Alrosa Slashes Full-Year Sales Outlook
Alrosa has reduced its sales forecast for this year in light of sluggish rough demand in the second quarter.The company expects to sell between 32 million and 33 million carats of rough diamonds for 2019, compared to its...
Mining Aug 20, 2019 Rapaport News
Sotheby's
Sotheby’s Expects $26M for Pink Diamond
A 10.64-carat pink diamond ring worth up to $25.5 million will go under the hammer at Sotheby’s Hong Kong sale. The fancy-vivid-purplish-pink center stone is internallyflawless, the auction house told Rapaport News Friday. Sotheby’s willoffer the...
Polished Markets Aug 18, 2019 Rapaport News
KGK, Botswana
Who’s Buying the Rough in 2019?
The stability of the diamond industry is largely in thehands of 122 manufacturers and dealers that buy rough on a contractual basis. Many of the sector’s current problems have resulted from too much rough entering the market...
Rough Markets Aug 11, 2019 Joshua Freedman
Alrosa
Alrosa Sales Hit Lowest Level on Record
Alrosa’s July sales slumped to their lowest point in three years, as weakness in the rough market continued to impact demand. The Russian miner’s total sales slid 50% to $170.5 millionfor the month, it reported Friday. Rough-diamond...
Mining Aug 11, 2019 Rapaport News
Diamonds at Tenders
Let’s Set Our Sights on the Auctions
De Beers’ first-half earnings highlighted the many challenges facing the diamond trade. But beyond the sharp declines the mining company suffered, CEO Bruce Cleaver and chief financial officer Nimesh Patel were...
Rough Markets Aug 07, 2019 Avi Krawitz
De Beers
Diamond Trading Quiet Amid Tight Profits
RAPAPORT PRESS RELEASE, August 6, 2019, Las Vegas … Diamond-market sentiment was weak in July due to tight profits and liquidity. The pressures facing cutters and dealers resulted from high rough supply at inflated prices...
Polished Markets Aug 06, 2019 Rapaport
Alrosa
Alrosa Nets Fish-Shaped Diamond
Alrosa’s knack for recovering unusually shaped diamonds hasscaled new heights with the discovery of a rough stone resembling a fish.“In the photo, you see a very rare specimen: a rough-diamondcrystal which pretends to be a fish,” the Russian...
Mining Aug 01, 2019 Rapaport News
Alrosa
Alrosa Deputy CEO Among Senior Exits
Yury Okoemov, one of Alrosa’s deputy CEOs and head of its diamond-cutting division, is leaving the Russian miner, the company said Tuesday. Okoemov has been with the Alrosa since 1993. After his departure,...
Mining Jul 31, 2019 Rapaport News
AFG
French Gem Group to Hold Diamond Symposium
The French Association of Gemmology (AFG) will hold aconference in Paris on the state of the diamond industry, it said Monday.The 18th Paris Gemmological Rendez Vous — whichwill take place on September 9 — will cover topics including diamondmining,...
Polished Markets Jul 23, 2019 Rapaport News
Botswana Diamonds
Botswana Diamonds to Start Selling by 4Q
Botswana Diamonds has raised the funds needed to continueoperations, and expects to hold its first sale by the fourth quarter. The company, which has struggled with challenges that hitits bottom line, had questioned...
Mining Jul 22, 2019 Rapaport News
Alrosa Lomonosov deposit
Alrosa Falls Victim to Changing Retail Practices
Retailers’ attempts to maintain low diamond inventories are hurtingdemand across the trade, Alrosa warned after reporting its lowest quarterlysales since 2015. The Russian miner’s sales slumped 26% to $807 million in thesecond quarter...
Mining Jul 18, 2019 Rapaport News
Alrosa rough diamonds 150
Alrosa Partners with Zimbabwe Mining Company
Alrosa has agreed to a joint venture with nationalminer Zimbabwe Consolidated Diamond Company (ZCDC) for exploring new diamondprojects in the country. The deal, which provides Alrosa with a 70% stake in any newgreenfield deposits, encompasses...
Mining Jul 17, 2019 Rapaport News
Alrosa
Alrosa Sales Fall Amid Diamond Oversupply
Alrosa’s sales continued to slump in June, closing off afirst half that saw a heavy drop in demand for its rough. The Russian miner’s total sales slid 43% to $222.4million for the month, it reported Wednesday....
Mining Jul 10, 2019 Rapaport News
Alrosa rough
Stop Buying Rough
The prevailing panic surrounding the rise of lab-grown diamonds is overshadowing the bigger challenge facing the diamond market: There is no profit in the trade. This long-term challenge is reaching crisis levels, as manufacturers lack liquidity and...
Rough Markets Jul 03, 2019 Avi Krawitz
De Beers Sorting
De Beers Cuts Prices as Rough Sales Slide
De Beers’ rough-diamond sales slumped to a 20-month low of $390 million in June amid weak sentiment in the manufacturing sector. Sightholders noted the price cuts De Beers implemented on certain categories were not enough to stimulate demand. “The...
Rough Markets Jun 25, 2019 Avi Krawitz
Alrosa theft diamonds 150
Authorities Probe Diamond Theft at Alrosa
Russian authorities have detained three members of an alleged criminalgang accused of stealing and selling high-quality diamonds belonging to Russianminer Alrosa. The thefts, which allegedly occurred over an extended period, werecommitted by an Alrosa employee working in its...
Mining Jun 11, 2019 Rapaport News
Alrosa May sales
Alrosa’s Sales Slump in May
Sales at Alrosa fell 8% year on year to $266 million in Mayamid a continued slowdown in the Indian manufacturing sector, the Russian miner said Monday. Rough-diamond sales declined 6% to $261.1 million for themonth, while polished revenue plunged...
Mining Jun 10, 2019 Rapaport News
Alrosa colored diamond polished
Alrosa to Sell Directly to Consumers
Alrosa is launching a source-of-origin program that will enable dealers and consumers to buy polished diamonds with detailed provenance information.The Russian miner will create an “electronic passport” for each diamond on a new website, diamonds.alrosa.ru, presenting...
Retail Jun 04, 2019 Rapaport News
De Beers Tracr
De Beers Opening Blockchain to Industry
De Beers has launched an online resource for sharing information and tools that will help members of the trade join its blockchain program. The Tracr Community will provide participants with educational materials and...
Technology Jun 02, 2019 Rapaport News
DTC Botswana sorting
De Beers Sales Slump 25% in May
De Beers’ sales fell to their lowest level in more than ayear and a half, as a slowdown in the Indian manufacturing sector hit roughdemand. Revenue dropped 25% to $415 million for the fourth salescycle of the year, which...
Rough Markets May 21, 2019 Joshua Freedman
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