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Alrosa Extends Supply Contract to March 2021
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Alrosa has delayed its new supply contract for rough buyers until early next year due to uncertainty in the diamond industry, the Russian miner said Friday.The current market environment has made it hard...
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Rough Markets
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Oct 25, 2020
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Rapaport News
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Alrosa Upbeat as Diamond Sentiment Improves
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Alrosa gave a positive assessment of the diamond market ahead of the holidays after rough and polished trading picked up in the third quarter.The Russian company’s rough-diamond sales climbed to $552.9 million during the three months...
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Mining
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Oct 18, 2020
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Rapaport News
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Alrosa Cancels October Rough Sale
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Alrosa will not hold a rough trading session in October in an effort to avoid releasing too many goods during a fragile recovery in the diamond market. The Russian miner will combine its October and November sales,...
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Rough Markets
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Oct 15, 2020
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Rapaport News
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De Beers September Sales Soar 57%
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De Beers has registered its highest sales total since January, as rough demand has improved ahead of the fourth-quarter holiday season.The company sold $467 million of rough during its September sales cycle, the eighth...
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Polished Markets
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Oct 14, 2020
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Rapaport News
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Alrosa Sees Continued Improvement in Sales
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Alrosa’s sales rose for a second consecutive month in September as manufacturers returned to buying following a lengthy period of inactivity.Revenue from diamonds grew 30% year on year to $336 million, with rough sales up 28% to $328.2 million, the...
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Rough Markets
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Oct 11, 2020
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Rapaport News
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De Beers Reduces Prices of Smaller Rough
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De Beers lowered prices of rough diamonds below 1 carat as the positive sales momentum that began last month continued during this week’s sight, sightholders told Rapaport News.The reductions for the September sight are...
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Rough Markets
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Sep 23, 2020
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Joshua Freedman
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Rough Sales Pick Up as Market Begins Rebound
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Miners have seen “encouraging” signs of recovery in the diamond market as they resume rough sales following an extended period of weak demand.Mountain Province garnered $8.9 million from the sale of 210,661 carats from its Gahcho...
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Mining
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Sep 22, 2020
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Rapaport News
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Gem Diamonds Incurs First-Half Loss
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Gem Diamonds fell into the red in the first half of 2020 as the coronavirus crisis froze the rough market and restricted the company’s sales.The net loss of $113,000 — compared with a $9.7 million profit...
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Mining
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Sep 06, 2020
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Rapaport News
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Rough-Market Momentum Set to Continue
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The resurgence in rough-diamond trading will persist for another two months as manufacturers fill supply shortages and retail demand rises, dealers predicted.“There’s still a gap, because demand is there, and supply is very limited and...
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Rough Markets
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Sep 03, 2020
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Joshua Freedman
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Alrosa Allows 100% Refusals at August Sale
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Alrosa will enable long-term clients to refuse all their supply allocations at this month’s contract sale, continuing the policy it introduced in July.“We should admit that we are at the very beginning of the market recovery, which...
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Rough Markets
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Aug 18, 2020
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Rapaport News
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Alrosa Nearing Inventory Deal with Govt.
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Alrosa expects to finalize a sale of rough to Gokhran in the next two months, aiming to reduce its stockpiles while ensuring the diamond industry doesn’t receive a flood of goods.Gokhran — Russia’s state gem and precious-metal depository — would...
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Rough Markets
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Aug 06, 2020
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Joshua Freedman
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India Urges ‘Self-Discipline’ from Rough Buyers
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Indian industry leaders have renewed their calls for limits on rough imports during the Covid-19 crisis, noting that diamond demand remains uncertain.The Gem & Jewellery Export Promotion Council (GJEPC) and four...
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Rough Markets
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Aug 02, 2020
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Rapaport News
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Petra Revenue Falls to Nine-Year Low
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Petra Diamonds’ full-year sales dropped to their lowest level in almost a decade as the coronavirus aggravated an already weak rough market.Revenue fell 36% to $295.8 million in the fiscal year ending June 30, reflecting sluggish rough...
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Mining
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Jul 26, 2020
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Rapaport News
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Alrosa Sees Weakest Performance in Years
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Alrosa’s sales and production slumped to their lowest levels in over a decade in the second quarter amid unprecedented weak demand for rough diamonds during the coronavirus crisis.Rough sales fell 91% year on year to $74.1...
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Mining
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Jul 16, 2020
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Rapaport News
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Covid-19 Ravages De Beers Sales
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De Beers’ sales and production nosedived in the second quarter as the coronavirus crushed diamond demand throughout the pipeline and forced shutdowns at several mines.“Demand for rough diamonds was significantly impacted by a combination of Covid-19 restrictions...
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Mining
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Jul 16, 2020
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Rapaport News
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Alrosa Monthly Sales Plummet Again
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Alrosa’s diamond sales fell 86% year on year to $31.3 million in June as contract customers continued to delay buying rough allocations.“For the third time in a row, we offered our long-term customers unprecedentedly flexible sales conditions, including...
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Rough Markets
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Jul 12, 2020
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Rapaport News
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Alrosa Delays July Sale to Later in Month
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Alrosa has pushed its July contract sale to the end of the month in response to requests from clients who had expressed interest in making purchases, the Russian miner said Thursday.The trading session, previously scheduled...
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Rough Markets
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Jul 09, 2020
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Rapaport News
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Rough Prices Climb at Grib Auction in Antwerp
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Grib Diamonds noted a modest increase in rough prices versus pre-lockdown levels as demand returned following a two-month pause in sales.The Belgian company, which sells production from AGD Diamonds’ Grib mine in Russia, brought in just over...
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Rough Markets
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Jun 18, 2020
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Rapaport News
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Gem Diamonds Notes Solid Rough Demand
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Gem Diamonds reported a rise in the average selling price for the first half of 2020, noting that appetite for its goods had improved at a recent tender in Antwerp.“The results of the latest tender for Letšeng’s...
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Rough Markets
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Jun 18, 2020
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Rapaport News
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De Beers Sight Opens with Viewings in Antwerp
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De Beers has been holding sight viewings in Antwerp this week as part of its move to offer goods in locations other than Botswana due to the coronavirus.The company might also enable customers to view rough in Hong Kong...
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Rough Markets
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Jun 17, 2020
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Joshua Freedman
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