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Sewelo diamond
Louis Vuitton Buys 1,758ct. Diamond from Lucara
Lucara Diamond Corp. has sold Botswana’s largest diamond to Louis Vuitton in a rare move that will see the fashion house partner with an Antwerp manufacturer to polish the stone.The mining company will receive an up-front...
Rough Markets Jan 16, 2020 Rapaport News
Lucara
Lucara Tender Beats Expectations
Lucara Diamond Corp. achieved higher sales than itexpected at its final tender of the year as market stabilization drove anincrease in rough prices.The owner of the Karowe mine in Botswana brought in $52.9million, 16% above its prediction,...
Mining Dec 19, 2019 Rapaport News
De Beers diamonds on glass table
De Beers Rough Prices Decline 5% in 2019
A drop in rough-diamond prices and a sales shift tolower-value items weighed on De Beers’ profitability in the second half,according to executives at parent company Anglo American. The miner’s rough-price index fell around 5% year onyear for the first...
Mining Dec 16, 2019 Rapaport News
Rough and polished diamonds
Pressure on Diamond Midstream Likely to Increase
Diamond manufacturers will consolidate in the coming years to avoid being further squeezed by miners and retailers, Bain & Company predicted in its annual report on the industry.The forecast stems from the midstream becoming anincreasingly...
Polished Markets Dec 12, 2019 Joshua Freedman
Jwaneng
De Beers Lowers 2020 Production Forecast
De Beers has reduced its production outlook for next year and beyond amid uncertainty about the health of the diamondmarket.The miner now expects to recover between 32 million and 34million carats in 2020, compared to its...
Mining Dec 11, 2019 Rapaport News
De Beers sightholder
De Beers Ends Special Supply Measures
Rough-diamond buyers are anticipating an improvement insales at next week’s De Beers sight, as the miner is withdrawing concessions that allowed clients to reject goods. De Beers will revert to its standard rules limiting sightholders’ abilityto refuse or defer...
Rough Markets Dec 05, 2019 Joshua Freedman
ZCDC
Zimbabwe Eyes Overseas Rough Tenders
Zimbabwe’s state-owned diamond miner is planning tendersoutside the country in an effort to attract more buyers, Bloomberg reportedThursday. The Zimbabwe Consolidated Diamond Company (ZCDC) intends tohold 11 international sales in 2020, the news agency cited the...
Mining Dec 02, 2019 Rapaport News
Rough fancy intense yellow diamond for Princess Cu
Zimbabwe to Take Smaller Cut of Diamond Sales
Zimbabwe plans to reduce the percentage of sales diamond miners must pay to the state, aiming to encourage companies to invest in the Marange fields.The government proposed a new royalty rate of 10% in theannual budget last week. Diamond...
Mining Nov 18, 2019 Rapaport News
Orapa De Beers
De Beers Announces 2020 Sight Schedule
De Beers has released the dates of the 10 sights it willhold in Gaborone, Botswana, next year. The miner sells around 90% of its roughat those sales, with the rest available at auctions. The January sight will...
Rough Markets Nov 18, 2019 Rapaport News
Analyzing rough at KGK Botswana
Rough Market Picks Up at De Beers Sight
De Beers’ November sales totalled $390 million, the highest for five months, as the roughmarket stabilized and the miner reduced prices to trigger demand.Proceeds from the ninth sales cycle fell 12% compared with...
Rough Markets Nov 13, 2019 Joshua Freedman
De Beers rough
De Beers Reduces Prices at November Sight
Sightholders welcomed De Beers’ decision to lower pricesat this week’s rough-diamond sale, but noted that further discounts werenecessary to improve profits in the manufacturing sector. The company reduced prices of higher-end goods by 5% to7% at this week’s...
Rough Markets Nov 06, 2019 Joshua Freedman
De Beers bridal collection
De Beers Lowers Global Diamond-Jewelry Estimate
De Beers has restated its estimation of global diamond-jewelry sales following a new study valuing the diamond content in jewelry purchases since the 2008 recession. The group also revised its production data to reflect lower...
Retail Nov 04, 2019 Avi Krawitz
De Beers
De Beers Slashes Output Amid Diamond Glut
DeBeers’ production dropped in the third quarter as the miner responded to a declinein rough demand that has left it with an inflated stockpile of diamonds. Outputfell 14% to 7.4 million carats for the period amid planned mine...
Mining Oct 22, 2019 Rapaport News
Jubilee
Alrosa Sales Down as Cutters Reduce Stock
Alrosa’s sales fellin the third quarter amid a drop in the average price as the miner sold alarger proportion of small stones, it reported Thursday.Sales decreased 37% to $611 million for the three months ending September...
Mining Oct 22, 2019 Rapaport News
Rio Tinto
Rio Tinto Output Falls Amid Lower Grades
Lower mining grades and reduced ore availability contributedto a drop in Rio Tinto’s third-quarter diamond production, the company reportedWednesday. Output at its wholly owned Argyle mine in Australiafell 7% year on year, yielding 3.6 million carats...
Mining Oct 17, 2019 Rapaport News
Lucapa
Lucapa Tender Yields $10M
Lucapa Diamond Company earned $10.4 million fromits latest sale of rough stones, bringing its total for the year to date to$45.9 million. The miner sold 5,469 carats from its Lulo mine inAngola...
Mining Oct 16, 2019 Rapaport News
Petra 20.08ct blue
Cullinan Blue Could Fetch $15M, Analysts Say
Petra Diamonds will offer a 20.08-carat blue diamond at aspecial tender in Johannesburg next month, with analysts predicting the rough couldattract $15 million.The miner recovered the type IIb, “exceptional” gem-qualitystone at its Cullinan deposit...
Rough Markets Oct 07, 2019 Rapaport News
Letseng diamonds
Lesotho Renews Letšeng Lease
Gem Diamonds has obtained a 10-year lease to continue miningat the lucrative Letšeng deposit in Lesotho, but will haveto pay a larger proportion of its sales proceeds to the government. The southern African kingdom has also...
Mining Oct 06, 2019 Rapaport News
Young Diamantaires South Africa Venetine mine visi
Nurturing the Next Generation of Diamantaires
If anyone in the industry wanted to know how to transform a diamondbusiness and safeguard its future, they might do well to speak to the 25members of the Young Diamantaires group who went on last week’s mission toSouth Africa.The delegates...
Mining Sep 12, 2019 Joshua Freedman
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
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