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Buyers Snub De Beers and Alrosa over High Prices
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De Beers and Alrosa continued to see rock-bottom sales in June as buyers rejected the miners’ high rough prices in favor of cheaper goods from smaller suppliers.“[The major miners] want to hold on to prices, so people don’t see any...
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Rough Markets
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Jun 29, 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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Lucara May Struggle to Hold Botswana Sales
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The coronavirus outbreak has threatened Lucara Diamond Corp.’s ability to hold tenders in Botswana, and had a heavy negative effect on rough prices, the company said Tuesday.The Botswana government has given Lucara permission to hold...
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Rough Markets
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Apr 01, 2020
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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 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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Rough Prices Set for Slump – Analyst
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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...
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Rough Markets
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Jul 08, 2019
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Rapaport News
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Analysts Expect Flat Rough Prices in 2019
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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,...
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Rough Markets
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Mar 28, 2019
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Rapaport News
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Weak Demand Weighs on De Beers Sales
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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...
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Rough Markets
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Mar 06, 2019
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Joshua Freedman
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De Beers Cuts Prices of Cheaper Rough
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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...
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Rough Markets
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Nov 13, 2018
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Joshua Freedman
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De Beers Raises Rough Prices Again
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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...
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Rough Markets
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May 22, 2018
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Joshua Freedman
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Gahcho Kué Prices Rise as Market Improves
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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...
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Mining
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Feb 13, 2018
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Rapaport News
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Firestone Raising Cash After Price Drop
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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...
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Mining
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Dec 04, 2017
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Rapaport News
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Catoca Sees Revenue Rise in 2016
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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...
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Mining
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Aug 22, 2017
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Rapaport News
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Switch to Smaller Rough Dents Liqhobong Prices
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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...
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Mining
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Jul 17, 2017
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Joshua Freedman
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Gahcho Kué Disappoints with Low Prices
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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...
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Mining
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May 11, 2017
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Rapaport News
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Diamcor Hurt by Weak Rough Prices
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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...
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Mining
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Mar 02, 2017
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Rapaport News
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De Beers Profit Jumps as Diamond Market Stabilizes
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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...
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Mining
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Feb 21, 2017
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Joshua Freedman
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Gem Diamonds Puts Ghaghoo Mine on Hold
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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...
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Mining
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Feb 16, 2017
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Rapaport News
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De Beers Slashed Rough Prices 5% in 2016
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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...
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Rough Markets
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Dec 08, 2016
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Rapaport News
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ALROSA Sales Weather Indian Liquidity Storm
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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...
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Mining
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Dec 07, 2016
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Rapaport News
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