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Rough diamonds
De Beers Lets Clients Reject 50% of Goods
De Beers will allow sightholders to refuse more rough diamonds than usual at thisweek’s sight, aiming to ease pressure on the market without reducing prices. Clients will be free to turn down 50% of available goods amid a slump...
Rough Markets Aug 18, 2019 Joshua Freedman
De Beers
Debswana Mourns Death of Albert Milton
Albert Milton, managing director of De Beers’Botswana joint venture, has died, the company said Friday. Milton passed away early Friday morning after becomingunwell Thursday night in Johannesburg, where he was admitted to the hospital. “De...
Mining Aug 18, 2019 Rapaport News
Mountain Province
Mountain Province Faces Nasdaq Delisting
Mountain Province has been given six months toraise its share price or it will no longer be eligible to list on the Nasdaqstock exchange, it said Tuesday. The Canada-based miner’s stock is currently valued at$0.97, below the minimum...
Mining Aug 14, 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
Mountain Province
Currency Gains Boost Mountain Province Profit
Mountain Province’s profit increased in the second quarter amid a stronger Canadian dollar that reduced its debt levels, it said Tuesday. Profit jumped 61% to CAD 10.3 million ($7.8 million) for thethree months ending...
Mining Aug 07, 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
De Beers sight box
De Beers Sales Sink to Lowest Level Since 2015
De Beers’ rough-diamond sales plummeted 53% this month ascustomers accepted the miner’s offer to defer purchases until the marketimproves.Weak polished demand and excess supply in the manufacturingand trading sectors have hurt sightholders’ appetite...
Mining Jul 30, 2019 Joshua Freedman
Firestone
Small-Stone Slump Hits Firestone Revenue
Firestone Diamonds saw a decline in sales during its fiscal fourth quarter due to a drop in demand for small, lower-value diamonds that make up the bulk of its supply. The company reported sales of $12.7 million for...
Mining Jul 29, 2019 Rapaport News
De Beers sorting
De Beers Lets Clients Delay Rough Purchases
De Beers loosened its purchasing requirements for roughbuyers at last week’s sight in an effort to ease the oversupply affecting the diamond market.Sightholders have struggled to reduce their inventories due to an imbalance of stocks and weak polished demand....
Mining Jul 28, 2019 Joshua Freedman
Rough diamond and sorting labels, Kimberley
De Beers Profit Falls Amid Market Slump
De Beers’ profit dropped in the first half of the year asweak demand at the trade and consumer levels impacted diamond prices, thecompany said Thursday. The rough market was subdued due to high inventories inboth...
Mining Jul 25, 2019 Rapaport News
De Beers carbon
De Beers Testing Carbon-Neutral Mining
De Beers is studying how to eliminate the carbon footprintof diamond mining by storing the emissions inside kimberlite, it saidWednesday. The miner recently received a government grant of CAD675,000 ($514,000) to test the process at its Gahcho Kué mine...
Mining Jul 24, 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
Mountain Province Yellow Diamond 150
Low Grades Dent Mountain Province Output
Production at Gahcho Kué dropped 10% year on yearto 1.7 million carats in the second quarter, as mining took place in a lower-grade portion of the deposit. “The grade variance year over year is mainly a function ofmining lower-grade-ore...
Mining Jul 21, 2019 Rapaport News
Large Canadian rough diamond in palm of hand, GSS
Diamond Glut Prompts De Beers to Slash Production
De Beers has lowered its production forecast for this year,noting that weakness in the diamond trade negatively affected itsperformance in the second quarter.Sales volume slumped 10% to 9 million carats in the threemonths ending June 30 due...
Mining Jul 18, 2019 Rapaport News
Forevermark
Forevermark Unveils New Bridal Campaign
Cue the sentimental music and emotive narration, Forevermark has launched a marketing campaign for its first bridal collection. The campaign, titled “I Take You, Until Forever,” aims to depict the ups and downs...
Retail Jul 11, 2019 Rapaport News
IIDGR
Will Gemologists Survive Automation?
Amid the tech boom that is shaping the diamond industry, a growing number of companies are challenging the grading laboratories, arguing that assessing the 4Cs should not be a subjective science.“Five to 10 years from now, diamond...
Technology Jul 10, 2019 Avi Krawitz
A rough diamond
Rough Prices Set for Slump – Analyst
Rough-diamond prices are likely to fall 5% this year asweakness in the industry continues, Panmure Gordon analyst Kieron Hodgson haspredicted. The investment bank has lowered its expectations for themarket, having previously forecast price...
Rough Markets Jul 08, 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
Diamond Cutting
Challenging Diamond Market Sees Further Declines
RAPAPORT PRESS RELEASE, July 2, 2019, Las Vegas … Diamond market sentiment was weak in June due to sluggish demand and tightening manufacturing profits. Suppliers are reducing prices to raise liquidity, as they’re under pressure from...
Polished Markets Jul 02, 2019 Rapaport
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