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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
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
Stornoway 150
Stornoway Prices Continue to Fall
Rough prices slumped for Stornoway Diamond Corporation inthe second quarter, as market weakness dented demand for the miner’s range ofgoods. The average price of the company’s sales slid 18% to $76 percarat in the...
Mining Jul 11, 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 Trading Slowed in 2018
Global rough-diamond shipments dropped last year,reflecting slower trading in India and Belgium, according to new data from theKimberley Process (KP). Total rough imports slipped 3% to $48.49 billion for 2018,with volume down 7% to 424.2 million...
Rough Markets Jul 09, 2019 Rapaport News
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
AWDC
Belgium’s Rough Trade Slumps in May
Rough exports from Belgium dropped 37% year on year to $741.5million in May, reflecting continued weakness in the sector. Rough imports fell16%, according to data from the Antwerp World Diamond Centre. The polishedtrade was more...
Mining Jun 26, 2019 Rapaport News
Gateway of India
India Cracks Down on Rough Shipments
India’s diamond trade is in a fight with authorities overstricter customs enforcement for rough that could have a “disastrous” impact on theindustry.Companies have recently been suspected of giving incorrect values for imports or exports of rough diamonds, a senior...
Financial-Legal May 26, 2019 Joshua Freedman
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
AWDC building Antwerp
Belgium Rough Trade Slows in 1Q
Belgium saw a decline in its imports and exports of rough diamondsin the first quarter, as mining companies’ sales dropped.Shipments into thecountry slid 33% to $2.09 billion for the period, reflecting a 38% slump inrough sales...
Rough Markets Apr 28, 2019 Rapaport News
Diamond Show - Rapaport Polished Diamonds 150
Webinar: The Way Forward in a Slow Market
What’s the current state of the rough, polished and retail markets?Avi Krawitz, Rapaport’s Senior Analyst and News Editor, analyzes the key trendsin this hour-long webinar. Click here for more.
Polished Markets Apr 18, 2019 Avi Krawitz
Debswana Jwaneng
De Beers Sales Jump 10% in April
De Beers recorded its largest rough-diamond sale sincemid-2018 as demand was steady following a slow first quarter. Sales rose 10% year on year to $575 million in the thirdsales cycle of the year, including last week’s sight...
Rough Markets Apr 10, 2019 Rapaport News
National Bank of Fujairah Antwerp launch April 201
Dubai’s NBF Enters Antwerp Lending Market
The National Bank of Fujairah (NBF) has launched arepresentative office in Antwerp as it looks to expand its business lending toestablished diamond traders. The Dubai-based bank targets wholesalers with secure sourcesof income and solid product...
Financial-Legal Apr 07, 2019 Joshua Freedman
Gahcho Kué
Analysts Expect Flat Rough Prices in 2019
Rough-diamond prices will remain sluggish this year as themarket challenges that arose in the second half of last year are set to continue,two investment banks have warned.Prices are likely to drop 1% to 2% in the first half of2019,...
Rough Markets Mar 28, 2019 Rapaport News
Gem Diamonds 13.33ct pink diamond
Letšeng Pink Sells for Almost $9M
Gem Diamonds has announced the sale of a 13.33-carat pinkdiamond, discovered in February at its mine in Lesotho, for $8.8 million. The tender sale, which took place in Antwerp, represents a record per-caratprice of $656,933 for the company,...
Mining Mar 14, 2019 Rapaport News
Alrosa
Alrosa Revenue Slumps in February
Sales at Alrosa fell 36% year on year to $345.6 millionin February as a slowdown in the rough market continued. Rough-diamond sales dropped 36% to $340.6 millionfor the month, according to Rapaport calculations based on Alrosa reports.Polished revenues slid...
Rough Markets Mar 07, 2019 Rapaport News
Venetia
Weak Demand Weighs on De Beers Sales
De Beers’ sales fell for the second consecutive month, ashigh rough prices and slim midstream profits softened demand from buyers,sightholders reported. Sales of $490 million in February were 13% below ayear ago amid...
Rough Markets Mar 06, 2019 Joshua Freedman
Gateway of India
India Starts Year with Export Slump
India’s polished-diamond exports dropped 16% to $1.75 billion in January,continuing their recent weakness. A slide in the volume of shipments outweigheda higher average price, according to data the Gem & Jewellery ExportPromotion Council (GJEPC) released this...
Polished Markets Feb 20, 2019 Rapaport News
De Beers for the NewsBrief
De Beers Sales Slump Amid Market Weakness
De Beers’ rough-diamond sales slowed in January as adisappointing holiday season piled further pressure on the midstream. Proceeds fell to $505 million at the first sales cycle ofthe year, 25% lower than the $672 million it sold...
Rough Markets Jan 29, 2019 Joshua Freedman
Victor mine
2H Slump Dents De Beers Sales Volume
De Beers’ sales volume fell 4% last year due to weakeneddemand for lower-value diamonds in the second half. The miner sold 33.7 million carats of rough, compared with 35.1million carats in 2017, as clients bought fewer of its...
Mining Jan 24, 2019 Rapaport News
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