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Israel to Host High-Value Letšeng Rough

First viewing of Gem Diamonds goods outside Antwerp to take place in October.
Sep 14, 2017 5:20 AM   By Rapaport News
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Gem Diamonds will bring viewings of rough diamonds from the high-value Letšeng mine to Israel next month, after previously only offering its goods in Antwerp.

The first viewings, mainly featuring stones above 10.8 carats from the deposit in Lesotho, will take place in the Israel Diamond Exchange’s International Tender Center (ITC) from October 15 to 18, the bourse said this week. The goods will also be available for viewing in Antwerp from October 23 to November 2. Bidding for the tender will be online and will be open until November 2.

“After selling [for] 10 years exclusively out of Antwerp, Gem Diamonds is delighted to introduce the high-quality Letšeng production to the Israel market,” said Clifford Elphick, the mining company’s CEO. “We hope to enhance our relationships with existing Israeli clients, establish new ones and seize opportunities within the Tel Aviv diamond market.”

Israel launched the ITC in February in an attempt to attract major diamond producers and trading companies to the market and make goods available to bourse members.

“The response so far has been overwhelmingly positive and the ITC has been very busy since it was opened,” said exchange president Yoram Dvash. “The Gem Diamonds tender is a significant achievement and we are very optimistic that we will continue hosting them in the future.”
Tags: Antwerp, Clifford Elphick, Gem Diamonds, IDE, International Tender Center, Israel, Israel Diamond Exchange, ITC, Letšeng, Rapaport News, Rough Diamonds, rough tenders, Yoram Dvash
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