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Alrosa Monthly Sales Plummet Again
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Alrosa’s diamond sales fell 86% year on year to $31.3 million in June as contract customers continued to delay buying rough allocations.“For the third time in a row, we offered our long-term customers unprecedentedly flexible sales conditions, including...
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Rough Markets
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Jul 12, 2020
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Rapaport News
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Alrosa Delays July Sale to Later in Month
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Alrosa has pushed its July contract sale to the end of the month in response to requests from clients who had expressed interest in making purchases, the Russian miner said Thursday.The trading session, previously scheduled...
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Rough Markets
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Jul 09, 2020
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Rapaport News
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Global Rough Production Slides in 2019
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Global rough-diamond production fell 7% to $13.48 billion last year, reflecting lower output in Botswana and Canada, according to new data from the Kimberley Process (KP). Production volume slipped 12% to 130.3 million carats, while...
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Rough Markets
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Jul 05, 2020
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Rapaport News
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India Extends Import Curbs as Surat Shuts Again
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Indian trade bodies have recommended continued limits on rough-diamond imports in July, with a fresh weeklong shutdown of the Surat cutting sector adding to concerns about the market.The Gem & Jewellery Export Promotion Council (GJEPC)...
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Polished Markets
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Jul 01, 2020
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Joshua Freedman
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Rough Prices Climb at Grib Auction in Antwerp
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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...
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Rough Markets
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Jun 18, 2020
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Rapaport News
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Gem Diamonds Notes Solid Rough Demand
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Gem Diamonds reported a rise in the average selling price for the first half of 2020, noting that appetite for its goods had improved at a recent tender in Antwerp.“The results of the latest tender for Letšeng’s...
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Rough Markets
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Jun 18, 2020
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Rapaport News
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De Beers Sight Opens with Viewings in Antwerp
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De Beers has been holding sight viewings in Antwerp this week as part of its move to offer goods in locations other than Botswana due to the coronavirus.The company might also enable customers to view rough in Hong Kong...
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Rough Markets
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Jun 17, 2020
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Joshua Freedman
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Mountain Province Investor to Buy $50M in Rough
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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...
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Mining
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Jun 09, 2020
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Rapaport News
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Rough Sales to Decline Up to 40% This Year
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Rough-diamond sales will drop by 30% to 40% this year as Covid-19 restrictions have shut down the global supply chain, Moody’s Investors Service projected.The market won’t recover until the second half when social-distancing...
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Rough Markets
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Jun 07, 2020
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Rapaport News
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Lucapa Raises $3.6M for Lulo Kimberlite Hunt
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Lucapa Diamond Company has completed a sale of new shares that successfully raised AUD 5.25 million ($3.6 million) to fund its search for the kimberlite source of its high-value alluvial stones.The proceeds of the rights...
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Mining
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Jun 03, 2020
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Rapaport News
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Alrosa Sees Demand for Rough at Digital Sale
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Alrosa sold 102 large rough diamonds at its latest digital tender, noting that there was still demand for its goods despite the coronavirus crisis.“The results of the digital tender’s first round show...
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Rough Markets
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Jun 03, 2020
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Rapaport News
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De Beers Offering Sight Goods Outside Botswana
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De Beers will hold viewings of sight goods in locations other than Botswana, enabling customers to access the company’s rough amid travel restrictions.The miner will introduce the provision in “relevant diamond centers” for the upcoming...
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Rough Markets
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Jun 02, 2020
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Joshua Freedman
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Petra Mulls June Tender After Rough-Price Slump
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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...
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Mining
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May 31, 2020
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Rapaport News
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Alrosa Allows Deferrals at Third Consecutive Sale
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Alrosa has continued its policy of enabling customers to hold off buying its rough diamonds until later in the year, aiming to avoid flooding the market with goods.The flexibility will be in place at the upcoming June...
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Rough Markets
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May 31, 2020
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Rapaport News
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Alrosa Cuts 2020 Production Plan
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Alrosa is set for its lowest annual rough-diamond production in at least a decade, after the Russian miner reduced its outlook by up to 6 million carats due to the weak market.The company now expects to produce 28 million to 31 million carats...
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Mining
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May 24, 2020
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Rapaport News
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Alrosa Sales Nearly Wiped Out in April
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Alrosa’s diamond sales plummeted 95% to $15.6 million in April, the lowest on record, as customers deferred purchases until the market improves.Rough sales slumped 96% to $13.1 million, while polished revenues fell 17% to $2.4 million,...
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Rough Markets
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May 12, 2020
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Rapaport News
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De Beers Launches Online Rough-Sales Platform
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De Beers has launched an e-commerce site that lets clients buy rough on demand, creating an opportunity for sales during the weak market.An initiative of De Beers’ auctions unit, the new Buy platform gives registered buyers...
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Rough Markets
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May 10, 2020
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Rapaport News
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De Beers Suspends Applications for Sight Contracts
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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...
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Rough Markets
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May 05, 2020
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Rapaport News
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Don’t Ban Rough Buying, De Beers Urges
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De Beers CEO Bruce Cleaver has called on the trade to allow rough purchases, assuring manufacturers the company won’t require them to buy in the weak market.“We will only sell [rough] when the demand is such...
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Rough Markets
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May 03, 2020
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Rapaport News
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De Beers Offers 100% Deferrals at May Sight
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De Beers is allowing rough-diamond customers to skip all purchases at next week’s sight, as shutdowns of manufacturing and retail markets have led to minimal demand.The sight will be the second consecutive sale at which the miner has allowed...
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Rough Markets
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Apr 30, 2020
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Joshua Freedman
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