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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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Alrosa Sales Decline at Slower Rate
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Alrosa’s sales fell 24% year on year to $258.7 million inSeptember, amid continued market weakness. However, the total was the highest in four months, and reflecteda noticeable recovery in the small-stone sector, the Russian...
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Mining
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Oct 15, 2019
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Rapaport News
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DPA Chief Lieberherr Steps Down
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Jean-Marc Lieberherr has resigned as CEO of the DiamondProducers Association (DPA), an organization he has led since its formation in2015. Lieberherr became the DPA’s first chairman in December 2015,before taking on the role of CEO in February 2016....
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Polished Markets
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Oct 15, 2019
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Rapaport News
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Alrosa Finds Diamond Inside a Diamond
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Alrosa has recovered an unusual piece of rough featuring one diamond encased inside another,in a style similar to the traditional Russian nesting doll. The outer stone weighs 0.62 carats and contains an innercavity of 6 cubic millimeters...
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Mining
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Oct 06, 2019
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Rapaport News
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Alrosa Board Approves Kristall Takeover
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Alrosa is set to finalize its acquisition of diamondmanufacturer Kristall in a $29 million deal in October, following approval fromits supervisory board. Alrosa expects the RUB 1.89 billion sale-and-purchaseagreement to be signed by the end of the month, with a concrete...
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Polished Markets
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Sep 26, 2019
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Rapaport News
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Alrosa Expects Kristall Merger in September
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Alrosa’s supervisory board is set to vote on the acquisitionof diamond manufacturer Kristall, which will enable the miner to focus onincreasing sales in the US and China, it said Tuesday. The deal, which will go up for consideration on September24,...
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Polished Markets
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Sep 18, 2019
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Rapaport News
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Alrosa Sales Slide in August
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Alrosa’s sales fell 38% year on year to $181.8 million in August, as weakness in the market persisted. However, the result was an improvement on last month’s$170.5 million, the miner’s weakest figure since it began releasing data in 2016....
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Mining
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Sep 10, 2019
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Rapaport News
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Opinion: An Urgent Call to Invest in Marketing
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The diamond industry must significantly increase its marketing spend to ensure the trade’s longevity. This need is highlighted by the difficult conditions the sector has endured over the past few years.Recent challenges have...
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Marketing
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Sep 09, 2019
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Shashin Choksi & Siddharth Choksi
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Alrosa Consolidating Key Mining Division
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Alrosa’s supervisory board will vote Tuesday on whether to close a subsidiary that controls two of its largest mines, bringing those deposits into its core business.The Russian miner owns a 97.5% stake in Alrosa-Nyurba, which holds...
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Mining
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Sep 08, 2019
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Rapaport News
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Tracr Aiming to Be More Than a Blockchain
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As a tech guy, Jim Duffy spends much of his time on the road explaining technical terms in a way laymen can understand. He has his work cut out for him as CEO of Tracr, De Beers’ blockchain project — especially...
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Polished Markets
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Sep 04, 2019
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Avi Krawitz
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Alrosa to Hold Second True Colors Auction
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Alrosa will offer more than 200 polished coloreddiamonds at the Hong Kong Jewellery & Gem Fair in September. The True Colors auction will feature a pear-cut, 18.07-carat, intense-yellow diamond which is internally flawless, the...
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Polished Markets
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Aug 25, 2019
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Rapaport News
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Alrosa Slashes Full-Year Sales Outlook
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Alrosa has reduced its sales forecast for this year in light of sluggish rough demand in the second quarter.The company expects to sell between 32 million and 33 million carats of rough diamonds for 2019, compared to its...
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Mining
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Aug 20, 2019
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Rapaport News
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Sotheby’s Expects $26M for Pink Diamond
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A 10.64-carat pink diamond ring worth up to $25.5 million will go under the hammer at Sotheby’s Hong Kong sale. The fancy-vivid-purplish-pink center stone is internallyflawless, the auction house told Rapaport News Friday. Sotheby’s willoffer the...
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Polished Markets
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Aug 18, 2019
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Rapaport News
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Who’s Buying the Rough in 2019?
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The stability of the diamond industry is largely in thehands of 122 manufacturers and dealers that buy rough on a contractual basis. Many of the sector’s current problems have resulted from too much rough entering the market...
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Rough Markets
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Aug 11, 2019
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Joshua Freedman
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Alrosa Sales Hit Lowest Level on Record
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Alrosa’s July sales slumped to their lowest point in three years, as weakness in the rough market continued to impact demand. The Russian miner’s total sales slid 50% to $170.5 millionfor the month, it reported Friday. Rough-diamond...
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Mining
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Aug 11, 2019
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Rapaport News
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Let’s Set Our Sights on the Auctions
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De Beers’ first-half earnings highlighted the many challenges facing the diamond trade. But beyond the sharp declines the mining company suffered, CEO Bruce Cleaver and chief financial officer Nimesh Patel were...
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Rough Markets
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Aug 07, 2019
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Avi Krawitz
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Diamond Trading Quiet Amid Tight Profits
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RAPAPORT PRESS RELEASE, August 6, 2019, Las Vegas … Diamond-market sentiment was weak in July due to tight profits and liquidity. The pressures facing cutters and dealers resulted from high rough supply at inflated prices...
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Polished Markets
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Aug 06, 2019
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Rapaport
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Alrosa Nets Fish-Shaped Diamond
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Alrosa’s knack for recovering unusually shaped diamonds hasscaled new heights with the discovery of a rough stone resembling a fish.“In the photo, you see a very rare specimen: a rough-diamondcrystal which pretends to be a fish,” the Russian...
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Mining
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Aug 01, 2019
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Rapaport News
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Alrosa Deputy CEO Among Senior Exits
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Yury Okoemov, one of Alrosa’s deputy CEOs and head of its diamond-cutting division, is leaving the Russian miner, the company said Tuesday. Okoemov has been with the Alrosa since 1993. After his departure,...
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Mining
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Jul 31, 2019
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Rapaport News
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French Gem Group to Hold Diamond Symposium
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The French Association of Gemmology (AFG) will hold aconference in Paris on the state of the diamond industry, it said Monday.The 18th Paris Gemmological Rendez Vous — whichwill take place on September 9 — will cover topics including diamondmining,...
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Polished Markets
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Jul 23, 2019
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Rapaport News
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