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De Beers rough
De Beers Reduces Prices at November Sight
Sightholders welcomed De Beers’ decision to lower pricesat this week’s rough-diamond sale, but noted that further discounts werenecessary to improve profits in the manufacturing sector. The company reduced prices of higher-end goods by 5% to7% at this week’s...
Rough Markets Nov 06, 2019 Joshua Freedman
De Beers bridal collection
De Beers Lowers Global Diamond-Jewelry Estimate
De Beers has restated its estimation of global diamond-jewelry sales following a new study valuing the diamond content in jewelry purchases since the 2008 recession. The group also revised its production data to reflect lower...
Retail Nov 04, 2019 Avi Krawitz
De Beers
De Beers Slashes Output Amid Diamond Glut
DeBeers’ production dropped in the third quarter as the miner responded to a declinein rough demand that has left it with an inflated stockpile of diamonds. Outputfell 14% to 7.4 million carats for the period amid planned mine...
Mining Oct 22, 2019 Rapaport News
Jubilee
Alrosa Sales Down as Cutters Reduce Stock
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...
Mining Oct 22, 2019 Rapaport News
Rio Tinto
Rio Tinto Output Falls Amid Lower Grades
Lower mining grades and reduced ore availability contributedto a drop in Rio Tinto’s third-quarter diamond production, the company reportedWednesday. Output at its wholly owned Argyle mine in Australiafell 7% year on year, yielding 3.6 million carats...
Mining Oct 17, 2019 Rapaport News
Lucapa
Lucapa Tender Yields $10M
Lucapa Diamond Company earned $10.4 million fromits latest sale of rough stones, bringing its total for the year to date to$45.9 million. The miner sold 5,469 carats from its Lulo mine inAngola...
Mining Oct 16, 2019 Rapaport News
Petra 20.08ct blue
Cullinan Blue Could Fetch $15M, Analysts Say
Petra Diamonds will offer a 20.08-carat blue diamond at aspecial tender in Johannesburg next month, with analysts predicting the rough couldattract $15 million.The miner recovered the type IIb, “exceptional” gem-qualitystone at its Cullinan deposit...
Rough Markets Oct 07, 2019 Rapaport News
Letseng diamonds
Lesotho Renews Letšeng Lease
Gem Diamonds has obtained a 10-year lease to continue miningat the lucrative Letšeng deposit in Lesotho, but will haveto pay a larger proportion of its sales proceeds to the government. The southern African kingdom has also...
Mining Oct 06, 2019 Rapaport News
Young Diamantaires South Africa Venetine mine visi
Nurturing the Next Generation of Diamantaires
If anyone in the industry wanted to know how to transform a diamondbusiness and safeguard its future, they might do well to speak to the 25members of the Young Diamantaires group who went on last week’s mission toSouth Africa.The delegates...
Mining Sep 12, 2019 Joshua Freedman
Rough diamonds
De Beers Lets Clients Reject 50% of Goods
De Beers will allow sightholders to refuse more rough diamonds than usual at thisweek’s sight, aiming to ease pressure on the market without reducing prices. Clients will be free to turn down 50% of available goods amid a slump...
Rough Markets Aug 18, 2019 Joshua Freedman
Alrosa
Alrosa Nets Fish-Shaped Diamond
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...
Mining Aug 01, 2019 Rapaport News
De Beers sight box
De Beers Sales Sink to Lowest Level Since 2015
De Beers’ rough-diamond sales plummeted 53% this month ascustomers accepted the miner’s offer to defer purchases until the marketimproves.Weak polished demand and excess supply in the manufacturingand trading sectors have hurt sightholders’ appetite...
Mining Jul 30, 2019 Joshua Freedman
Rough diamond and sorting labels, Kimberley
De Beers Profit Falls Amid Market Slump
De Beers’ profit dropped in the first half of the year asweak demand at the trade and consumer levels impacted diamond prices, thecompany said Thursday. The rough market was subdued due to high inventories inboth...
Mining Jul 25, 2019 Rapaport News
Large Canadian rough diamond in palm of hand, GSS
Diamond Glut Prompts De Beers to Slash Production
De Beers has lowered its production forecast for this year,noting that weakness in the diamond trade negatively affected itsperformance in the second quarter.Sales volume slumped 10% to 9 million carats in the threemonths ending June 30 due...
Mining Jul 18, 2019 Rapaport News
Alrosa Lomonosov deposit
Alrosa Falls Victim to Changing Retail Practices
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...
Mining Jul 18, 2019 Rapaport News
Rio Tinto Argyle pink tender 2019
Rio Tinto Unveils Roster of Pink Diamonds
Rio Tinto has launched what’s likely to be one of its lastannual pink-diamond tenders, as the company gears up to close its flagshipArgyle mine.The Argyle Pink Diamonds Tender, which has run since 1984,comprises rare polished colored...
Polished Markets Jul 14, 2019 Rapaport News
Stornoway 150
Stornoway Prices Continue to Fall
Rough prices slumped for Stornoway Diamond Corporation inthe second quarter, as market weakness dented demand for the miner’s range ofgoods. The average price of the company’s sales slid 18% to $76 percarat in the...
Mining Jul 11, 2019 Rapaport News
Alrosa
Alrosa Sales Fall Amid Diamond Oversupply
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....
Mining Jul 10, 2019 Rapaport News
Rough diamonds
Global Diamond Production Value Rises
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...
Mining Jul 07, 2019 Rapaport News
Rough diamonds
Trans Hex Cautious About Future Operations
Trans Hexhas issued a warning about its capacity to continue as a going concern, stating there was“material uncertainty” around its ability to fund its short-term liquidityrequirements. The notificationcomes amid continued operating losses for the business....
Mining Jul 02, 2019 Rapaport News
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