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De Beers Plans Overhaul of Supply Policy
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De Beers plans to abandon its practice of using sightholders’ purchase history as the main factor in determining how it allocates rough supply, sources have told Rapaport News.The move, which would go into effect from 2021, would...
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Rough Markets
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Jan 23, 2020
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Joshua Freedman
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Zimbabwe Eyes Overseas Rough Tenders
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Zimbabwe’s state-owned diamond miner is planning tendersoutside the country in an effort to attract more buyers, Bloomberg reportedThursday. The Zimbabwe Consolidated Diamond Company (ZCDC) intends tohold 11 international sales in 2020, the news agency cited the...
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Mining
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Dec 02, 2019
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Rapaport News
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De Beers Announces 2020 Sight Schedule
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De Beers has released the dates of the 10 sights it willhold in Gaborone, Botswana, next year. The miner sells around 90% of its roughat those sales, with the rest available at auctions. The January sight will...
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Rough Markets
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Nov 18, 2019
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Rapaport News
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Rough Market Picks Up at De Beers Sight
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De Beers’ November sales totalled $390 million, the highest for five months, as the roughmarket stabilized and the miner reduced prices to trigger demand.Proceeds from the ninth sales cycle fell 12% compared with...
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Rough Markets
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Nov 13, 2019
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Joshua Freedman
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De Beers Reduces Prices at November Sight
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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...
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Rough Markets
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Nov 06, 2019
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Joshua Freedman
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De Beers Sales Sink to Lowest Level Since 2015
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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...
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Mining
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Jul 30, 2019
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Joshua Freedman
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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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Lucara Completes First Sale on Clara Platform
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Lucara Diamond Corp. recorded an 8% premium in theinaugural sale of rough on its new digital platform, which it completed lastmonth, the miner reported Tuesday. Five out of seven participating manufacturers andjewelers came away with goods, with...
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Rough Markets
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Jan 08, 2019
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Rapaport News
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Alrosa Sees Upturn in Small-Stone Demand
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Alrosa noted an improvement in demand for lower-value roughin November, even as total diamond sales dropped. Proceeds slid 18% year on year to $274 million for themonth, the miner said Monday. However, sales value and...
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Rough Markets
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Dec 10, 2018
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Rapaport News
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De Beers Sales Slip to $440M
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De Beers recorded its lowest-value sales cycle this year asweak Indian demand prompted it to drop prices of cheaper goods. Proceeds fell to $440 million in November as the miner reducedprices by high-single-digit percentages for rough diamonds costing...
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Rough Markets
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Nov 20, 2018
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Rapaport News
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Kimberley Rough Goes on Sale in Antwerp
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Production from the Kimberley mining operations in SouthAfrica will come to Antwerp for tender following Petra Diamonds’ sale of theasset. Until now, Petra only offered the goods for sale in SouthAfrica. The company offloaded...
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Rough Markets
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Aug 29, 2018
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Rapaport News
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30-Carat Fancy Pink Set for Antwerp Sale
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Lesotho-focused miner Namakwa Diamonds will sell a29.59-carat, fancy-pink rough stone in Antwerp this fall.The company discovered the diamond at its KAO mine in theAfrican country on June 12, according to brokerage firm Bonas-Couzyn, whichwill facilitate...
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Rough Markets
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Aug 27, 2018
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Rapaport News
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Higher Costs Dent De Beers Earnings
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De Beers’ underlying earnings fell in the first half due to higher costs, even as the company maintained an upbeat forecast for the rest of the year.“The outlook for 2018 global consumer demand remains positive in most...
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Mining
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Jul 26, 2018
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Rapaport News
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Angola to Curb Sodiam’s Control of Rough Sales
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Angola plans to allow miners to sell up to 60% of roughdiamonds to companies of their choice, including to their own tradingdivisions, Reuters reported last week. The changes are part of the country’s reforms to its diamondsector under President João...
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Rough Markets
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Jul 02, 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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Large-Stone Demand Drives Alrosa Sales
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Alrosa’s sales leaped20% year on year in the first quarter, as demand for medium-sized and largerough diamonds strengthened. Total sales for thethree months ending March 31 rose to $1.61 billion, of which $1.58 billion wasfrom rough...
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Mining
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Apr 11, 2018
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Rapaport News
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Botswana’s Rough Exports Drop
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Botswana’s rough-diamond exports declined 14% to $3.48 billion in 2017, according to data released by the Bank of Botswana. After rising slightly in the first quarter, exports dropped18% year on year in the second quarter, slid 21% in the...
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Mining
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Jan 31, 2018
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Rapaport News
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Rough Market Upbeat at $665M De Beers Sight
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Rough-diamond demand was strong at De Beers’ January sight, as manufacturers plan to increase their production in anticipation of post-holiday orders from retailers.The mining company reported proceeds of $665 million in its firstsales cycle of the year, which included...
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Rough Markets
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Jan 31, 2018
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Rapaport News
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Diamcor Third-Quarter Rough Sales Decline
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Diamcor’s tender results showed a lower number of carats soldin the third fiscal quarter that started October 1, with the company citing water-recovery issues. The company sold a total of 4,354 carats of rough diamondsfor $864,546...
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Mining
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Dec 21, 2017
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Rapaport News
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Rough Demand Stable at $450M De Beers Sight
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De Beers reported steady demand for rough diamonds at itsDecember sight as sales showed an increase over the equivalent period lastyear. The miner sold $450 million worth of rough in its finalsales cycle of the year, including...
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Mining
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Dec 12, 2017
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Rapaport News
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