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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
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
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
De Beers
De Beers Cuts Prices of Cheaper Rough
De Beers significantly reduced prices of lower-quality rough diamonds at this week’s sight in response to a slowdown in the Indian manufacturingsector, dealers reported. Prices fell by high-single-digit percentages versus theprevious sale, sightholders told Rapaport News Tuesday. The...
Rough Markets Nov 13, 2018 Joshua Freedman
De Beers rough
De Beers Raises Rough Prices Again
De Beers sold $550 million worth of goods at its May salescycle as strong consumer demand boosted the rough-diamond market.The miner raised prices for the third consecutive sight amidthe strong demand, with the emphasis...
Rough Markets May 22, 2018 Joshua Freedman
Rough Demand Boosts Mountain Province Sales 150
Gahcho Kué Prices Rise as Market Improves
Mountain Province Diamonds has posted its highest monthly sales total to date, as better-quality production and improved demand drove rough prices higher in February.The company sold a total of 351,000 carats from its Gahcho Kué...
Mining Feb 13, 2018 Rapaport News
Firestone Liqhobong mine
Firestone Raising Cash After Price Drop
Firestone Diamonds is looking to raise $25 million (GBP 18.5million) to fund operations at its Liqhobong mine in Lesotho after weak roughprices drove the company to a loss and forced it to rethink its plan for theasset. Disappointing demand...
Mining Dec 04, 2017 Rapaport News
Catoca
Catoca Sees Revenue Rise in 2016
Catoca, which operates Angola’s largest diamond mine,reported an increase in revenue and profit in 2016 as lower rough diamondprices influenced stronger demand for its product.Revenue grew 2% to $593.6 million during the year assales volume increased...
Mining Aug 22, 2017 Rapaport News
Firestone Liqhobong mine
Switch to Smaller Rough Dents Liqhobong Prices
The average selling price of rough diamonds from FirestoneDiamonds’ Liqhobong mine lagged behind the company’s forecast for the fourthfiscal quarter as the company recovered more lower-value stones.The miner sold 182,786 carats for...
Mining Jul 17, 2017 Joshua Freedman
Gahcho Kue processing plant
Gahcho Kué Disappoints with Low Prices
A large proportion of fluorescent diamonds and the negativeimpact of India’s liquidity crisis dampened prices at the initial sales ofrough from Canada’s new Gahcho Kué mine, Mountain Province Diamonds reported.The miner sold 522,000 carats...
Mining May 11, 2017 Rapaport News
Rough Diamonds
Diamcor Hurt by Weak Rough Prices
Diamcor Mining’s sales declined 8 percent in the fiscalthird quarter, the company said Wednesday, citing sluggish rough-diamondprices.Revenue fell to $1.2 million (CAD 1.6 million) from the saleof 9,435 carats in the three months that...
Mining Mar 02, 2017 Rapaport News
De Beers Venetia mine
De Beers Profit Jumps as Diamond Market Stabilizes
Profit more than doubled for De Beers last year as tradingconditions in the diamond-manufacturing sector improved and inventory levelsstabilized.Underlying earnings jumped to $667 million in 2016 from $258million a year earlier, parent company Anglo American said...
Mining Feb 21, 2017 Joshua Freedman
ghaghoo
Gem Diamonds Puts Ghaghoo Mine on Hold
Gem Diamonds will stop production at the Ghaghoo mine inBotswana, effective immediately, due to a slump in prices, the company saidThursday.The miner has decided to place the asset on “care andmaintenance,” meaning it will put diamond recovery...
Mining Feb 16, 2017 Rapaport News
De Beers Jwaneng truck
De Beers Slashed Rough Prices 5% in 2016
De Beers said its rough diamond prices fell 5 percent this year even as the diamond market showed signs of a vast improvement. Diamond prices declined from January to November, while prices of other commodities in the conglomerate’s...
Rough Markets Dec 08, 2016 Rapaport News
ALROSA sorters
ALROSA Sales Weather Indian Liquidity Storm
ALROSA’s diamond sales jumped 63 percent from ayear ago to $255.2 million in November, a signal that the liquidity crisis inIndia has failed to derail a recovery in the rough market this year.Rough sales stood at $245.6 million...
Mining Dec 07, 2016 Rapaport News
ALROSA rough sorter
Cautious ALROSA Targets Steady Rough Prices
ALROSA pledged to keep rough diamond prices relatively stable in the short term evenafter demand recovered this year, as the company looks to support manufacturers’profit margins.“The current market priority is to maintain healthymidstream margins. So, at the...
Rough Markets Nov 27, 2016 Rapaport News
Rough loupe
Analyst Warns of Rough Price Pressure
New diamond mines may force rough prices down next year becauseof increased supply, according to Panmure Gordon.Three mines in Canada will enter the rough market early nextyear: Firestone Diamonds’ Liqhobong mine, Stornoway...
Mining Nov 21, 2016 Rapaport News
Alrosa rough
Trans Hex Spurred by Higher Rough Prices
Trans Hex Group reported a profit in the fiscal first half as rough prices recovered and the South African rand weakened 15 percent against the U.S. dollar.Revenue increased 2.5 percent to $20.4 million (ZAR 275.3million)...
Mining Nov 03, 2016 Rapaport News
Polished Diamonds
Diamond Prices Decline in October
PRESS RELEASE, November 1, 2016, New York… Diamond markets were quiet in October with wholesale businesses closing for the respective Chinese, Jewish and Indian holidays. Trading slowed as larger U.S. holiday orders were...
Polished Markets Nov 01, 2016 Rapaport
Jwaneng operation
S&P Maintains Negative Outlook for Botswana
Standard & Poor’s affirmed Botswana's credit rating andgave the country a negative outlook, reflecting the risksover the next 12 to 18 months if the current diamond-sector slumpproves more structural than cyclical in nature.The agency said it maintained...
Mining Oct 31, 2016 Rapaport News
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