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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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Mar 26, 2020
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Rapaport News
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Alrosa Launches Digital Tender for Large Rough
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Alrosa has introduced a digital auction for its large rough diamonds in an effort to minimize disruption to its sales during coronavirus-related travel restrictions.The tender, which began Monday and runs through April 6, will take the...
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Mining
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Mar 26, 2020
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Rapaport News
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Alrosa Appoints New Vladivostok Head
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Alrosa has appointed Nikolay Gorokhov head of its Vladivostok division.Gorokhov, who began working for Alrosa in 2001 in its Yakutsk Diamond Trading Company, will be responsible for rough-diamond sales in Vladivostok, the Russian miner said...
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Mining
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Mar 23, 2020
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Rapaport News
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Production Continues as Miners Fight Virus Impact
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Alrosa, Petra Diamonds and Lucara Diamond Corp. are among the companies putting special procedures in place in preparation for a possible coronavirus outbreak, while still continuing operations at their mines.Alrosa, which has not had...
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Mining
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Mar 19, 2020
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Leah Meirovich
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Alrosa Relaxes Sales Terms Amid Market Crisis
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Alrosa is allowing clients to defer up to 60% of their rough-diamond allocations at this month’s contract sale, claiming the concession will help buyers handle the current market difficulties.“Amid such market uncertainty, it wouldn’t be right to keep our...
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Rough Markets
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Mar 15, 2020
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Rapaport News
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Weak Demand Weighs on Alrosa Earnings
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A challenging rough market in the first half of the year led to a decline in Alrosa’s profit in 2019, despite a stronger fourth quarter.Profit fell 31% to RUB 62.7 billion ($874.6 million) for the year, as an oversupply of polished stones...
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Mining
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Mar 11, 2020
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Rapaport News
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Podcast: How Alrosa Is Using Data to Drive Sales
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It may surprise many, but the diamond industry has emerged as quite tech-savvy in the past few years, says Alexey Tikhonov, Alrosa’s head of projects for strategy and analytics.Rapaport Senior Analyst Avi Krawitz spoke...
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Rough Markets
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Mar 09, 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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New Alrosa Mine Yields 17ct. Yellow
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Alrosa has recovered a 17.44-carat, bright-yellow, gem-quality diamond at its Verkhne-Munskoye deposit, the first colored stone found at the mine since it opened.The stone, recovered in mid-February from the mine in Yakutia, was found in the Zapolyarnaya...
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Mining
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Feb 23, 2020
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Rapaport News
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L.J. West Buys Pink-Purple Alrosa Diamond
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New York-based diamond collector and wholesaler L.J. West has purchased a 6.21-carat fancy-intense-pink-purple diamond from Alrosa.The stone, one of three the Russian miner cut and polished from a 20.18-carat rough it found in one of its...
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Polished Markets
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Feb 19, 2020
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Leah Meirovich
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Panel Highlights Traceability Opportunity
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The trend of adopting diamond traceability measures is gaining traction, according to participants in a panel discussion at Israel’s International Diamond Week.The panel, moderated by Rapaport Senior Analyst Avi Krawitz, explored how various businesses across the supply...
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Polished Markets
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Feb 13, 2020
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Rapaport News
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Israel Diamond Week Lifts Local Trade
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The International Diamond Week in Israel (IDWI) closed Wednesday with participants noting steady trading among local dealers in the absence of Chinese buyers.Delegations from China and Hong Kong were scheduled to attend the three-day...
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Marketing
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Feb 13, 2020
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Rapaport News
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GJEPC: Coronavirus May Lead to Payment Delays
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India’s diamond industry has asked banks and the government for help with its credit difficulties, as the coronavirus crisis has left clients in China and Hong Kong unable to pay bills.The Gem and...
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Rough Markets
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Feb 12, 2020
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Joshua Freedman
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Alrosa Puts Lower-Value Mines on Hold
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Alrosa has paused production at certain lower-value deposits as the diamond industry continues to face an inventory imbalance and external challenges, its CEO said.The Russian miner placed on care and maintenance select alluvial mines that...
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Mining
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Feb 12, 2020
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Joshua Freedman
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Alrosa Reveals Client List for 2020
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Alrosa has named 58 companies that qualify for its long-term rough supply in 2020.The annual reshuffle saw the mining company remove Belgium-based Blue Gems and Russia’s EPL Diamond from the roster, while...
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Rough Markets
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Feb 06, 2020
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Joshua Freedman
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Diamond Market Cautious Amid China Concerns
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RAPAPORT PRESS RELEASE, February 4, 2020, Las Vegas… Diamond market sentiment was positive for most of January but weakened as the outbreak of the coronavirus in China resulted in a shutdown of retail stores over the important Chinese...
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Polished Markets
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Feb 04, 2020
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Rapaport
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Russian Bank Offers Credit to Alrosa Client
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Russia’s Eximbank has started offering credit to rough-diamond buyers through a loan deal with an Antwerp-based Alrosa client, the miner said.The state-owned lender has agreed to finance purchases for manufacturer and trader Dali Diamond...
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Financial-Legal
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Feb 03, 2020
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Rapaport News
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Weak Market Dents Alrosa Sales
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Rough-diamond sales at Alrosa fell 26% in 2019 as an oversupply in the midstream led to weaker demand.Revenue for the year dropped to $3.27 billion, while the average selling price slid 16% to $98 per carat, the Russian...
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Mining
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Jan 26, 2020
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Rapaport News
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GIA Examines Alrosa’s Matryoshka Diamond
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Three months after Alrosa revealed its discovery of a diamond-within-a-diamond, the Gemological Institute of America (GIA) has proposed an explanation for how this mysterious phenomenon came about. The GIA’s team, which examined the stone...
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Mining
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Jan 21, 2020
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Rapaport News
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Alrosa Takes First Step Toward Reopening Mir
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Alrosa has begun drilling at its Mir mine to test whether reopening the deposit is economically viable.This phase, which it will carry out through 2021, will help define the mine’s dimensions and the quality...
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Mining
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Jan 20, 2020
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Rapaport News
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