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Grib Diamonds Taps New Rough Source
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Grib Diamonds has started buying rough in Angola, as a new company structure has enabled it to diversify beyond its one mine in Russia.The Antwerp-based company, which markets most of the Grib deposit’s diamonds, is looking to source goods...
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Rough Markets
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Feb 09, 2020
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Joshua Freedman
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Alrosa Reveals Client List for 2020
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Alrosa has named 58 companies that qualify for its long-term rough supply in 2020.The annual reshuffle saw the mining company remove Belgium-based Blue Gems and Russia’s EPL Diamond from the roster, while...
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Rough Markets
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Feb 06, 2020
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Joshua Freedman
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De Beers Sales Rise to Nine-Month High
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De Beers’ January rough-diamond sales reached their highest level since last April as post-holiday stock replenishment boosted demand.Proceeds of $545 million at the first sales cycle of 2020 were 9% higher than a year ago, the miner...
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Rough Markets
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Jan 29, 2020
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Rapaport News
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Louis Vuitton Buys 1,758ct. Diamond from Lucara
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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...
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Rough Markets
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Jan 16, 2020
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Rapaport News
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US Trade Slowdown Continues
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US diamond shipments fell in November, according to government data. Polished imports declined19% as lower volumes outweighed an increase in the average price. US Trade Data for November 2019 Nov 2019 Year-on-year change Polished imports $1,382 -19%...
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Polished Markets
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Jan 13, 2020
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Rapaport News
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What Happened in the Diamond Trade in 2019
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Last year will go down as a difficult one for the diamond industry. While manufacturers took the biggest hit with thin profit margins, tight liquidity and excess supply, miners also suffered as rough demand...
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Polished Markets
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Jan 02, 2020
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Rapaport News
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Alrosa Releases 2020 Supply Schedule
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Alrosa has published its schedule of contract sales and auctions for next year.The Russian miner has maintained its format of monthly sales under the Alrosa Alliance, its long-term supply program. It will also...
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Mining
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Dec 31, 2019
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Rapaport News
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Lucara Tender Beats Expectations
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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,...
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Mining
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Dec 19, 2019
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Rapaport News
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De Beers Issues Synthetics Guidelines
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De Beers has provided its rough-diamond clients andForevermark partners with guidelines on how to operate in the lab-grown market if they wish to continue tapping into its branding.The mining company, which in 2018 forayed intogem-quality synthetics with...
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Financial-Legal
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Dec 18, 2019
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Joshua Freedman
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De Beers Rough Prices Decline 5% in 2019
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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...
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Mining
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Dec 16, 2019
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Rapaport News
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De Beers Lowers 2020 Production Forecast
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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...
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Mining
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Dec 11, 2019
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Rapaport News
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De Beers Ends Special Supply Measures
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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...
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Rough Markets
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Dec 05, 2019
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Joshua Freedman
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Rough Slowdown Weighs on Asian Star
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Sales and profit slumped at Indian diamond manufacturerAsian Star in the second fiscal quarter as weak rough demand prompted it to reduceits trading activities. The Mumbai-based company supplements its core cuttingbusiness by reselling rough through its...
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Manufacturing
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Nov 18, 2019
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Joshua Freedman
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De Beers Announces 2020 Sight Schedule
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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...
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Rough Markets
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Nov 18, 2019
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Rapaport News
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Rough Market Picks Up at De Beers Sight
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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...
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Rough Markets
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Nov 13, 2019
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Joshua Freedman
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De Beers Reduces Prices at November Sight
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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...
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Rough Markets
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Nov 06, 2019
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Joshua Freedman
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De Beers Slashes Output Amid Diamond Glut
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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...
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Mining
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Oct 22, 2019
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Rapaport News
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Alrosa Sales Down as Cutters Reduce Stock
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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...
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Mining
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Oct 22, 2019
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Rapaport News
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Rio Tinto Output Falls Amid Lower Grades
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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...
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Mining
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Oct 17, 2019
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Rapaport News
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Lucapa Tender Yields $10M
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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...
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Mining
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Oct 16, 2019
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Rapaport News
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