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Gem Diamonds
Gem Diamonds Incurs First-Half Loss
Gem Diamonds fell into the red in the first half of 2020 as the coronavirus crisis froze the rough market and restricted the company’s sales.The net loss of $113,000 — compared with a $9.7 million profit...
Mining Sep 06, 2020 Rapaport News
De Beers rough and polished
Rough-Market Momentum Set to Continue
The resurgence in rough-diamond trading will persist for another two months as manufacturers fill supply shortages and retail demand rises, dealers predicted.“There’s still a gap, because demand is there, and supply is very limited and...
Rough Markets Sep 03, 2020 Joshua Freedman
Grib Diamonds
Rough Prices Climb at Grib Auction in Antwerp
Grib Diamonds noted a modest increase in rough prices versus pre-lockdown levels as demand returned following a two-month pause in sales.The Belgian company, which sells production from AGD Diamonds’ Grib mine in Russia, brought in just over...
Rough Markets Jun 18, 2020 Rapaport News
Gahcho Kué
Mountain Province Investor to Buy $50M in Rough
Mountain Province plans to sell $50 million worth of rough diamonds to an entity owned by one of its major shareholders, generating liquidity amid weak prices.The first sale of $22 million in diamonds to Dunebridge Worldwide will take place...
Mining Jun 09, 2020 Rapaport News
petra mine 150
Petra Mulls June Tender After Rough-Price Slump
Petra Diamonds is considering whether to hold a rough tender in June after a market slowdown prompted it to cancel its May sale.Prices fell 27% in March and April compared with February as the Covid-19 pandemic reduced business activity...
Mining May 31, 2020 Rapaport News
Namdeb sorter
De Beers Suspends Applications for Sight Contracts
De Beers has paused the application process for its new sightholder contract due to the impact of COVID-19 on its clients’ business operations.“We’ve...been looking at ways that we might lighten the load on our customers and give...
Rough Markets May 05, 2020 Rapaport News
Alrosa diamond sorting
Alrosa to Maintain Supply Flexibility
Alrosa has pledged to remain flexible with its supply policy during the current industry downturn, as the coronavirus has left clients unsure how much rough to buy.“The virus has triggered uncertainty, and our...
Rough Markets Mar 08, 2020 Rapaport News
Rough diamond in loupe
De Beers Sales Fall as Virus Impacts Sentiment
De Beers’ rough-diamond sales declined 28% year on year to $355 million in February as the coronavirus hit demand.Many sightholders took up the miner’s offer to delay buying goods destined for China, sources in the rough market told...
Rough Markets Mar 04, 2020 Joshua Freedman
Yury Okoemov ALROSA
ALROSA October Sales Hit $431M
ALROSA said rough diamond sales totaled $430.8 million inOctober as demand remained strong despite disruptions caused by the Diwalifestival in India. The revenue represents a decline from $435.1 milliona month ago but is still relatively...
Rough Markets Nov 15, 2016 Rapaport News
De Beers sight boxes
De Beers June Sales Valued at $560M
De Beers reported sales fell to $560 million in its fifthcycle of 2016 which the miner regards as a typically slower period of the year.The sales figure compared with a revised $636 million in theprevious cycle and represents a decline...
Mining Jun 28, 2016 Rapaport News
Ekati Underground
Dominion’s Sales Decline 5% in 1Q
Dominion Diamond Corporation reported a slower pace of declinein quarterly revenue after last year’s slump as rough prices picked up duringthe first three months of the fiscal year.Sales fell 5 percent to $178.3 million in the first fiscalquarter...
Mining May 26, 2016 Rapaport News
Alrosa rough
KP Forum on Rough Valuation Set for May 23
De Beers and ALROSA will take part in aKimberley Process (KP) forum this month on rough diamond valuation aimed atreaching a consensus on universalpricing.The event, hosted May 23 by the KP and theOrganisation for Economic Co-operation and Development...
Rough Markets May 08, 2016 Rapaport News
Diamondcorp
DiamondCorp Says Worst is Behind Rough Market
The rough diamondmarket has seen the worst of its troubles, according to DiamondCorp chairmanEuan Worthington.“Early indications in 2016 are thatthere has been some stabilization in prices for polished stones as inventoriesare being drawn,” said Worthington....
Mining May 05, 2016 Rapaport News
Botswana Flag
S&P Lowers Botswana’s Outlook as Diamond Slump Hits Growth
Standard & Poor’s (S&P) cut its outlook for Botswanato negative on concern a slump in the diamond industry could be structuralrather than cyclical.The country is highly exposed to the performance of the diamondsector as it represents just under a third...
Rough Markets May 01, 2016 Rapaport News
Philippe Mellier
Stronger Rough Demand Propels De Beers April Sales Cycle to $660M
De Beers reported sales of rough diamonds jumped to $660million in its April cycle as stability in both polished prices and wholesale activitysupported solid demand.Sales were 7percent above the February second-cycle revenue, which was revised up to $617million....
Rough Markets Apr 12, 2016 Rapaport News
Botswana Flag
Weak Diamond Sales May Fuel Botswana Budget Deficit
Botswana’s budget surplus could turn into a deficit as revenue from rough diamond sales fell during the first six months, according to news website Mmegionline. Back in February, Finance Minister Kenneth Matambo had projected...
Mining Aug 18, 2015 Rapaport News
Hong Kong
Hong Kong's Polished Imports +10% in 1Q
Hong Kong’s polished diamond imports grew 10 percent year on year to $4.928 billion in the first quarter that ended March 31, according to the Diamond Federation of Hong Kong, China Ltd. By volume, polished imports fell...
Polished Markets May 18, 2014 Ronen Shnidman
Letseng Mine
Gem Diamonds Profits Rise 43% in 2010
Gem Diamonds reported that net profits rose 43 percent to $36.2 million in 2010 and group revenues increased 9 percent to $266.4 million, driven by higher rough prices achieved in the fourth quarter. “During the year Gem...
Rough Markets Mar 15, 2011 Avi Krawitz
DTC Box
DTC Jan. Sight Estimated at $650M
The Diamond Trading Company (DTC) January sight closed with an estimated value of $650 million as the De Beers sales and distribution unit kept its rough prices relatively stable. “We were quite surprised that...
Rough Markets Jan 21, 2011 Avi Krawitz
Rockwell Diamonds
Rockwell Diamonds FY3Q Sales -13%
Rockwell Diamonds reported that revenues fell 13.7 percent year on year to $11.2 million (CAD 11.1 million) in the third fiscal quarter ending November 30, 2010. The company posted a net loss of $1.2 million...
Mining Jan 17, 2011 Avi Krawitz
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