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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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Botswana Diamonds to Start Selling by 4Q
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Botswana Diamonds has raised the funds needed to continueoperations, and expects to hold its first sale by the fourth quarter. The company, which has struggled with challenges that hitits bottom line, had questioned...
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Mining
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Jul 22, 2019
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Rapaport News
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Alrosa Falls Victim to Changing Retail Practices
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Retailers’ attempts to maintain low diamond inventories are hurtingdemand across the trade, Alrosa warned after reporting its lowest quarterlysales since 2015. The Russian miner’s sales slumped 26% to $807 million in thesecond quarter...
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Mining
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Jul 18, 2019
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Rapaport News
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Alrosa Partners with Zimbabwe Mining Company
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Alrosa has agreed to a joint venture with nationalminer Zimbabwe Consolidated Diamond Company (ZCDC) for exploring new diamondprojects in the country. The deal, which provides Alrosa with a 70% stake in any newgreenfield deposits, encompasses...
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Mining
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Jul 17, 2019
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Rapaport News
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Alrosa Sales Fall Amid Diamond Oversupply
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Alrosa’s sales continued to slump in June, closing off afirst half that saw a heavy drop in demand for its rough. The Russian miner’s total sales slid 43% to $222.4million for the month, it reported Wednesday....
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Mining
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Jul 10, 2019
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Rapaport News
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Stop Buying Rough
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The prevailing panic surrounding the rise of lab-grown diamonds is overshadowing the bigger challenge facing the diamond market: There is no profit in the trade. This long-term challenge is reaching crisis levels, as manufacturers lack liquidity and...
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Rough Markets
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Jul 03, 2019
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Avi Krawitz
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De Beers Cuts Prices as Rough Sales Slide
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De Beers’ rough-diamond sales slumped to a 20-month low of $390 million in June amid weak sentiment in the manufacturing sector. Sightholders noted the price cuts De Beers implemented on certain categories were not enough to stimulate demand. “The...
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Rough Markets
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Jun 25, 2019
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Avi Krawitz
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Authorities Probe Diamond Theft at Alrosa
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Russian authorities have detained three members of an alleged criminalgang accused of stealing and selling high-quality diamonds belonging to Russianminer Alrosa. The thefts, which allegedly occurred over an extended period, werecommitted by an Alrosa employee working in its...
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Mining
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Jun 11, 2019
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Rapaport News
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Alrosa’s Sales Slump in May
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Sales at Alrosa fell 8% year on year to $266 million in Mayamid a continued slowdown in the Indian manufacturing sector, the Russian miner said Monday. Rough-diamond sales declined 6% to $261.1 million for themonth, while polished revenue plunged...
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Mining
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Jun 10, 2019
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Rapaport News
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Alrosa to Sell Directly to Consumers
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Alrosa is launching a source-of-origin program that will enable dealers and consumers to buy polished diamonds with detailed provenance information.The Russian miner will create an “electronic passport” for each diamond on a new website, diamonds.alrosa.ru, presenting...
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Retail
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Jun 04, 2019
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Rapaport News
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De Beers Opening Blockchain to Industry
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De Beers has launched an online resource for sharing information and tools that will help members of the trade join its blockchain program. The Tracr Community will provide participants with educational materials and...
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Technology
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Jun 02, 2019
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Rapaport News
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De Beers Sales Slump 25% in May
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De Beers’ sales fell to their lowest level in more than ayear and a half, as a slowdown in the Indian manufacturing sector hit roughdemand. Revenue dropped 25% to $415 million for the fourth salescycle of the year, which...
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Rough Markets
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May 21, 2019
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Joshua Freedman
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