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Alrosa Sales Nearly Wiped Out in April
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Alrosa’s diamond sales plummeted 95% to $15.6 million in April, the lowest on record, as customers deferred purchases until the market improves.Rough sales slumped 96% to $13.1 million, while polished revenues fell 17% to $2.4 million,...
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Rough Markets
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May 12, 2020
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Rapaport News
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De Beers Launches Online Rough-Sales Platform
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De Beers has launched an e-commerce site that lets clients buy rough on demand, creating an opportunity for sales during the weak market.An initiative of De Beers’ auctions unit, the new Buy platform gives registered buyers...
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Rough Markets
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May 10, 2020
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Rapaport News
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Alrosa Allows Clients to Defer All Purchases
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Alrosa is allowing full flexibility at next week’s monthly rough-diamond sale, enabling long-term clients to delay purchases until later in the year due to the current weak market.“The spread of coronavirus and counter-pandemic measures implemented around...
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Rough Markets
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Apr 02, 2020
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Joshua Freedman
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De Beers Enables 100% Deferrals at March Sight
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De Beers is allowing sightholders unlimited deferrals at its upcoming rough-diamond sale as manufacturing closures have obliterated demand, market sources told Rapaport News.The rare step follows the shutdown of the Surat polishing industry this week...
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Rough Markets
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Mar 26, 2020
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Joshua Freedman
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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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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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De Beers Sales Fall as Virus Impacts Sentiment
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De Beers’ rough-diamond sales declined 28% year on year to $355 million in February as the coronavirus hit demand.Many sightholders took up the miner’s offer to delay buying goods destined for China, sources in the rough market told...
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Rough Markets
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Mar 04, 2020
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Joshua Freedman
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De Beers Reveals Overhaul of Sight System
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De Beers plans to split sightholders into three categories and offer each group a more bespoke selection of rough diamonds as part of changes to its sales system.Manufacturers, dealers and retailers will sign specific supply contracts designed...
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Rough Markets
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Mar 01, 2020
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Joshua Freedman
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De Beers Lets Sightholders Defer Chinese Goods
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De Beers has allowed clients to forgo buying certain rough diamonds at this week’s sight, as the coronavirus outbreak has raised concerns about a polished glut.The miner has let sightholders defer purchases of goods that produce...
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Rough Markets
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Feb 26, 2020
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Joshua Freedman
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Virus Likely to Impact Demand at De Beers Sight
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De Beers and its clients expect a slowdown in rough-diamond sales at the company's Botswana sight this week amid concerns about the coronavirus.“It’s fair to say there will be an impact on rough demand in the short term,” De Beers...
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Rough Markets
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Feb 25, 2020
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Joshua Freedman
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De Beers Optimistic After 2019 Earnings Slump
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De Beers gave a positive outlook for 2020 due to an improvement in the industry’s inventory situation, despite growing concerns about Chinese demand.Early data from the holiday season indicate midstream stock levels are more balanced...
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Mining
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Feb 20, 2020
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Rapaport News
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Grib Diamonds Taps New Rough Source
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Grib Diamonds has started buying rough in Angola, as a new company structure has enabled it to diversify beyond its one mine in Russia.The Antwerp-based company, which markets most of the Grib deposit’s diamonds, is looking to source goods...
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Rough Markets
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Feb 09, 2020
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Joshua Freedman
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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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