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Global Diamond Production Value Rises
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Global rough-diamond output grew 2% to $14.47 billion lastyear, reflecting higher production in Botswana, according to data the KimberleyProcess (KP) released last week.The average price increased 4% to $97 per carat, outweighinga 2% decline in production volume to 148.4...
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Mining
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Jul 07, 2019
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Rapaport News
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De Beers Reduces Sightholder Supply
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De Beers sightholders are bracing for lower rough supplyfor the rest of 2019 as the miner reduces its production and fulfills itscommitments to support local manufacturing in Africa.The company expects production to drop as its Victor minein...
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Rough Markets
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Apr 08, 2019
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Joshua Freedman
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Higher Costs Hit De Beers Profit
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De Beers’ earnings fell in 2018 due to the costs of new initiatives such asits Lightbox synthetics business.Underlying earnings slid 34% to $349 million, as capital expenditure rose 53% to $417 million for the year, the company...
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Mining
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Feb 21, 2019
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Rapaport News
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De Beers Green-Lights Disclosure-Rule Changes
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De Beers has approved plans to allow sightholders to referto its goods as “DTC diamonds,” a company spokesperson confirmed with RapaportNews on Tuesday. The miner consulted with clients during the December sightin Botswana, proposing to relax its...
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Mining
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Jan 08, 2019
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Joshua Freedman
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De Beers Ready to Relax Its Provenance Rules
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De Beers is planning to loosen its source-disclosure restrictions for sightholders following requests for increased transparency, Rapaport News has learned.The company consulted with clients during this week’s sightin Botswana, proposing to let them refer...
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Rough Markets
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Dec 13, 2018
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Joshua Freedman
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Namdia Garners $143M in First Annual Sales
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Namibia’s rough-diamond division is expanding its client base, after seeing strong sales in its first year of operations. Namdia garnered revenue of NAD 2 billion ($142.8 million) in the 12 months that ended February 28, and last...
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Rough Markets
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Nov 07, 2018
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Rapaport News
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IDMA, WFDB Consider Joining Forces
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The International Diamond Manufacturers Association(IDMA) is considering an alliance with the World Federation of DiamondBourses (WFDB) in response to the crisis in the global cutting sector. “With the changes in the diamond-manufacturing sector’s landscape,as well as due to the...
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Manufacturing
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Nov 05, 2018
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Joshua Freedman
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De Beers Sales Volume Rises in Positive Market
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De Beers’ sales volume and production grew sharply in thesecond quarter amid strong trading conditions, the miner’s parent companyreported Thursday. Rough-diamond sales rose 69% to 10 million carats during thethree months ending June 30,...
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Mining
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Jul 19, 2018
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Rapaport News
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Namibia Predicts Diamond-Sector Slowdown
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Economic growth from Namibia’s diamond-mining sector willslow this year due to depletion of resources from inland deposits, its nationalbank said. While the industry’s contribution to gross domestic product(GDP) will increase 11% in 2018, that...
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Mining
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Jul 09, 2018
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Rapaport News
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De Beers Raises Prices at $520M Sale
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De Beers’ April sight closed with a value of $520 millionamid concerns among manufacturers that higher rough prices could affect profitmargins.De Beers raised prices by 1% to 2% from the previous salefor larger size categories, sightholders told...
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Rough Markets
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Apr 17, 2018
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Joshua Freedman
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De Beers Plans to Sell Namibia Mine
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De Beers’ joint venture with the Namibian government is seekinga buyer for its Elizabeth Bay operation, as the miner diverts resources to its marineprojects. Namdeb closed ElizabethBay between 2009 and 2011, when it revived it and...
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Mining
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Feb 12, 2018
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Rapaport News
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Debmarine Splashes $142M on Diamond Ship
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De Beers is planning to add the world’s largestcustom-built diamond-mining vessel to its fleet at a cost of $142 million. The ship will be the sixth belonging to DebmarineNamibia, a 50:50 joint venture between the miner and the Republic of Namibia,...
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Mining
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Nov 22, 2017
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Rapaport News
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Sierra Leone Yields Another Massive Diamond
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A Sierra Leone mining operation discovered a 476-carat rough diamond at the Meya deposit in the nation’s Kono district last week, its owner announced Friday.Meya Mining, a subsidiary of Namibia-based conglomerate TrustcoGroup, found the diamond, which...
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Mining
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Nov 12, 2017
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Rapaport News
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De Beers to Close Four Namibia Mines
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De Beers’ joint venture in Namibia will shut four diamondmines in the country by 2022 due to dwindling resources, Reuters reported lastweek.Namdeb, a 50:50 project with the nation’s government, willclose the Elizabeth Bay mine at the end...
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Mining
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Oct 29, 2017
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Rapaport News
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De Beers Pledges to Empower Women
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De Beers has partnered with the United Nations to support theadvancement of women in the company and across areas of life its operations affect.As a UN Women partner, De Beers has pledged to invest $3million in empowering women in diamond-producing countries,...
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Marketing
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Sep 24, 2017
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Rapaport News
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World’s Largest Diamond Ship Sets Sail in Namibia
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De Beers launched the world’s largest diamond-explorationship on Thursday, as it looks to Namibian waters to maintain production levels.The mv SS Nujoma cost$157 million to build and will allow Debmarine Namibia, De Beers’ joint venture with the Namibiangovernment, to secure the...
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Mining
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Jun 18, 2017
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Rapaport News
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Forevermark Inscribes Two-Millionth Diamond
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Forevermark reached another milestone this month after a round brilliant-cut, 3.48-carat polished stone became the two-millionth diamond to be inscribed by the De Beers brand. The diamond, which bears the serial number “2,000,000,” originated in Namibia,...
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Retail
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May 28, 2017
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Rapaport News
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De Beers Cuts Sightholder Allocations
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De Beers has reduced the supply of rough diamonds it will be offering sightholders in the coming year, as it fulfills its commitment to support diamond manufacturing in Namibia.The company signed an agreement with the Namibian government last year, committing...
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Rough Markets
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Mar 30, 2017
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Avi Krawitz, Joshua Freedman
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Almod Diamonds to Open Canada Cutting Factory
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New York-based Almod Diamonds will expand production of its patented 'Crown of Light' cut by opening a new cutting andpolishing facility in Canada’s Northwest Territories next year.Almod, an affiliate of retailer Diamonds International, saidit will set up a factory...
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Manufacturing
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Dec 21, 2016
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Rapaport News
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De Beers and Namibia Strike Long-Term Deal
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De Beers and Namibia signed a 10-year salesagreement – their longest pact ever – that will “significantly increase” thequantity of rough diamonds made available for beneficiation.The deal for sorting, valuing and sales ofdiamonds from Namdeb,...
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Mining
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May 17, 2016
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Rapaport News
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