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De Beers Sales Increase Again
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De Beers’ rough sales rose in December, albeit at a slower rate than in previous months, as steady retail demand ahead of the holidays supported trading at the rough and polished levels.The final sales cycle of the year brought...
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Rough Markets
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Dec 17, 2020
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Rapaport News
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Gem Diamonds Incurs First-Half Loss
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Gem Diamonds fell into the red in the first half of 2020 as the coronavirus crisis froze the rough market and restricted the company’s sales.The net loss of $113,000 — compared with a $9.7 million profit...
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Mining
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Sep 06, 2020
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Rapaport News
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Rough-Market Momentum Set to Continue
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The resurgence in rough-diamond trading will persist for another two months as manufacturers fill supply shortages and retail demand rises, dealers predicted.“There’s still a gap, because demand is there, and supply is very limited and...
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Rough Markets
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Sep 03, 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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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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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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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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Alrosa to Maintain Supply Flexibility
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Alrosa has pledged to remain flexible with its supply policy during the current industry downturn, as the coronavirus has left clients unsure how much rough to buy.“The virus has triggered uncertainty, and our...
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Rough Markets
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Mar 08, 2020
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Rapaport News
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De Beers Sales Fall as Virus Impacts Sentiment
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De Beers’ rough-diamond sales declined 28% year on year to $355 million in February as the coronavirus hit demand.Many sightholders took up the miner’s offer to delay buying goods destined for China, sources in the rough market told...
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Rough Markets
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Mar 04, 2020
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Joshua Freedman
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ALROSA October Sales Hit $431M
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ALROSA said rough diamond sales totaled $430.8 million inOctober as demand remained strong despite disruptions caused by the Diwalifestival in India. The revenue represents a decline from $435.1 milliona month ago but is still relatively...
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Rough Markets
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Nov 15, 2016
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Rapaport News
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De Beers June Sales Valued at $560M
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De Beers reported sales fell to $560 million in its fifthcycle of 2016 which the miner regards as a typically slower period of the year.The sales figure compared with a revised $636 million in theprevious cycle and represents a decline...
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Mining
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Jun 28, 2016
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Rapaport News
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Dominion’s Sales Decline 5% in 1Q
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Dominion Diamond Corporation reported a slower pace of declinein quarterly revenue after last year’s slump as rough prices picked up duringthe first three months of the fiscal year.Sales fell 5 percent to $178.3 million in the first fiscalquarter...
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Mining
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May 26, 2016
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Rapaport News
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KP Forum on Rough Valuation Set for May 23
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De Beers and ALROSA will take part in aKimberley Process (KP) forum this month on rough diamond valuation aimed atreaching a consensus on universalpricing.The event, hosted May 23 by the KP and theOrganisation for Economic Co-operation and Development...
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Rough Markets
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May 08, 2016
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Rapaport News
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DiamondCorp Says Worst is Behind Rough Market
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The rough diamondmarket has seen the worst of its troubles, according to DiamondCorp chairmanEuan Worthington.“Early indications in 2016 are thatthere has been some stabilization in prices for polished stones as inventoriesare being drawn,” said Worthington....
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Mining
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May 05, 2016
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Rapaport News
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S&P Lowers Botswana’s Outlook as Diamond Slump Hits Growth
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Standard & Poor’s (S&P) cut its outlook for Botswanato negative on concern a slump in the diamond industry could be structuralrather than cyclical.The country is highly exposed to the performance of the diamondsector as it represents just under a third...
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Rough Markets
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May 01, 2016
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Rapaport News
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Stronger Rough Demand Propels De Beers April Sales Cycle to $660M
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De Beers reported sales of rough diamonds jumped to $660million in its April cycle as stability in both polished prices and wholesale activitysupported solid demand.Sales were 7percent above the February second-cycle revenue, which was revised up to $617million....
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Rough Markets
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Apr 12, 2016
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Rapaport News
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Weak Diamond Sales May Fuel Botswana Budget Deficit
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Botswana’s budget surplus could turn into a deficit as revenue from rough diamond sales fell during the first six months, according to news website Mmegionline. Back in February, Finance Minister Kenneth Matambo had projected...
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Mining
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Aug 18, 2015
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Rapaport News
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Hong Kong's Polished Imports +10% in 1Q
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Hong Kong’s polished diamond imports grew 10 percent year on year to $4.928 billion in the first quarter that ended March 31, according to the Diamond Federation of Hong Kong, China Ltd. By volume, polished imports fell...
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Polished Markets
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May 18, 2014
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Ronen Shnidman
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Gem Diamonds Profits Rise 43% in 2010
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Gem Diamonds reported that net profits rose 43 percent to $36.2 million in 2010 and group revenues increased 9 percent to $266.4 million, driven by higher rough prices achieved in the fourth quarter. “During the year Gem...
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Rough Markets
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Mar 15, 2011
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Avi Krawitz
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DTC Jan. Sight Estimated at $650M
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The Diamond Trading Company (DTC) January sight closed with an estimated value of $650 million as the De Beers sales and distribution unit kept its rough prices relatively stable. “We were quite surprised that...
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Rough Markets
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Jan 21, 2011
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Avi Krawitz
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