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Coronavirus Updates: Impact on the Diamond Trade
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The Covid-19 pandemic that has swept the globe has had a notable impact on the diamond industry, with new developments unfolding every day. Here, we present a one-stop, running news feed on industry events impacted...
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Polished Markets
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Oct 28, 2020
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Rapaport News
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De Beers Delays New Sightholder Contract
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De Beers has extended its current sightholder contract by three months after the Covid-19 pandemic disrupted the renewal process.The supply agreement, originally due to expire on December 31, will remain in place until March 31,...
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Rough Markets
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Oct 26, 2020
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Joshua Freedman
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Preparing for a Holiday Season Like No Other
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Rapaport’s quarterly Diamond Trends Webinar outlined the key developments the trade should look out for during the holiday season and 2021.The webinar, presented last week by Rapaport Senior Analyst Avi Krawitz,...
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Polished Markets
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Oct 26, 2020
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Rapaport News
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Alrosa Extends Supply Contract to March 2021
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Alrosa has delayed its new supply contract for rough buyers until early next year due to uncertainty in the diamond industry, the Russian miner said Friday.The current market environment has made it hard...
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Rough Markets
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Oct 25, 2020
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Rapaport News
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India Rushes to Meet US Holiday Demand
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Indian diamond manufacturers are planning a curtailed Diwali break as they scramble to fulfill US holiday orders amid a shortage of polished.Factories will shut for five to 12 days instead of the usual two to three weeks, aiming to offset months...
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Manufacturing
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Oct 22, 2020
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Joshua Freedman
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Alrosa Upbeat as Diamond Sentiment Improves
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Alrosa gave a positive assessment of the diamond market ahead of the holidays after rough and polished trading picked up in the third quarter.The Russian company’s rough-diamond sales climbed to $552.9 million during the three months...
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Mining
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Oct 18, 2020
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Rapaport News
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Alrosa Cancels October Rough Sale
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Alrosa will not hold a rough trading session in October in an effort to avoid releasing too many goods during a fragile recovery in the diamond market. The Russian miner will combine its October and November sales,...
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Rough Markets
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Oct 15, 2020
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Rapaport News
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Sotheby’s Expects Pink to Fetch Up to $38M
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Sotheby’s will sell the largest vivid-purple-pink diamond ever to appear at auction, with expectations it could achieve up to $38 million at a November sale.The oval modified brilliant-cut, 14.83-carat, fancy-vivid-purple-pink, internally flawless, type IIa stone is set to go under...
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Polished Markets
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Oct 12, 2020
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Rapaport News
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Alrosa Sees Continued Improvement in Sales
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Alrosa’s sales rose for a second consecutive month in September as manufacturers returned to buying following a lengthy period of inactivity.Revenue from diamonds grew 30% year on year to $336 million, with rough sales up 28% to $328.2 million, the...
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Rough Markets
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Oct 11, 2020
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Rapaport News
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Trend Report: Covid-19 Driving Move to Digital
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Las Vegas, September 24, 2020As the diamond industry begins its recovery from the initial impact of Covid-19, its once-lagging progress toward digital is being vastly accelerated. While this will not be a rapid transition...
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Polished Markets
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Sep 24, 2020
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John Costello
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Rough Sales Pick Up as Market Begins Rebound
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Miners have seen “encouraging” signs of recovery in the diamond market as they resume rough sales following an extended period of weak demand.Mountain Province garnered $8.9 million from the sale of 210,661 carats from its Gahcho...
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Mining
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Sep 22, 2020
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Rapaport News
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Alrosa Names New Belgium Chief
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Alrosa has appointed Akil Zubir as managing director of its Belgium office, the miner said Thursday. He will succeed Sergey Panchekhin, who has worked for the company for more than 20 years and plans...
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Mining
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Sep 21, 2020
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Rapaport News
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Bond Actress Revealed as New Face of Diamonds
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The Natural Diamond Council (NDC) has unveiled actress Ana de Armas as the star of its first celebrity campaign, which will debut at next week’s Emmy Awards.De Armas recently received a Golden Globe nomination for...
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Marketing
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Sep 16, 2020
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Rapaport News
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Alrosa Sees First Sales Increase Since Feb.
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Alrosa’s sales rose 19% year on year to $216.7 million in August as the miner reduced rough prices to spur demand amid an improvement in the diamond market.The month saw the company’s first revenue increase since February,...
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Mining
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Sep 10, 2020
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Rapaport News
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The Rough Market’s Window of Opportunity
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The price cuts that took effect in the rough-diamond market last month surprised some, but made perfect sense given the trends in polished trading and the recent earnings reports from De Beers and...
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Rough Markets
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Sep 08, 2020
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Rapaport News
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Alrosa Aiming to Extract Higher-Value Rough
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Alrosa is expanding its use of X-ray technology in an effort to recover rarer and larger rough diamonds before the sorting system crumbles them into pieces.The Russian company is trialing upgraded equipment at its Udachny mine in Yakutia...
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Mining
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Sep 07, 2020
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Joshua Freedman
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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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Rising Polished Prices Boost Sentiment
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RAPAPORT PRESS RELEASE, September 1, 2020, Las Vegas… Diamond markets improved in August as governments eased Covid-19 restrictions and dealers sought to fill specific orders from jewelers. Indian manufacturers increased polished production to fill shortages...
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Polished Markets
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Sep 01, 2020
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Rapaport
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India Calls for Inventory Caution
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India’s major trade body has again urged members to avoid taking on unsellable diamond inventory, arguing that the industry’s recent improvement has been only partial.While polished demand is increasing and some categories are...
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Rough Markets
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Aug 26, 2020
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Rapaport News
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Sarine to Track Alrosa Rough from Mine to Market
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Sarine Technologies will trace Alrosa’s rough diamonds from the mine through each point of their journey using technology already in play in the manufacturing sector.“[The system] enables tracking diamonds originating from Alrosa, however...
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Technology
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Aug 26, 2020
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Rapaport News
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