Rough-Market momentum set to continue
The resurgence in rough-diamond trading will persist for another two months as manufacturers fill supply shortages and retail demand rises, dealers predicted.
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Diamond production dropped, now it is nosediving
Global diamond production sank 6.9% in 2019, the deepest plunge in a decade. By value, production dropped 6.2%. There were good reasons for this, and our updated production forecast calls for an even more significant slide in 2020.
Lucara Diamond CEO: industry sales must be transformed
This week, Eira Thomas, CEO of Lucara Diamond, owner of the Karowe mine in Botswana, sent an open letter to the diamond industry promoting Clara, the sales perform that Lucara purchased two years ago.
442-carat diamond, valued at $18m, found at Letšeng
Gem Diamonds has unearthed a 442-carat Type II stone, reckoned to be worth $18m, at its Letšeng mine, in Lesotho.
The largest natural color diamond ever found in Russia’s Yakutia
Press release – Almazy Anabara (Diamonds of Anabar), a part of ALROSA Group, found a 236-ct rough diamond of intense yellow-brown color. The diamond was extracted from the Ebelyakh mine in Yakutia, Russia. This is the largest natural color rough diamond ever found in Russia.
Why Lucara’s new deal might change the diamond market
On July 15, Lucara Diamond, owner of the Karowe mine in Botswana, announced it had forged a “groundbreaking” deal with Antwerp Belgium’s HB Group. The deal calls for Lucara to sell all its “special” (more than 10.8 ct.) diamonds to HB through the end of the year.
What De Beers and Alrosa clients really want
The biggest sore points for contract customers — high rough prices and weak profit margins — are intrinsically linked to the complex question of customization.
De Beers CEO: how we plan to transform our business
On Thursday July 27, De Beers released financial results for the first half of the year, which show just how much it’s been battered by COVID-19—with total revenue coming in at $1.2 billion, a 54% drop from the year before, which itself was not a great period.
ALROSA announces new support and stabilization measures for the industry
Press release – ALROSA retains its commitment to support its clients and the diamond industry and announces a new set of unprecedented measures to offer additional flexibility to its rough diamonds’ buyers.
Covid-19 Ravages De Beers Sales
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.
Alrosa sees weakest performance in years
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.
India trade calls for lower import tax
India’s diamond sector has asked the government to reduce import duties for polished, arguing that a lower rate would boost the country’s position as a trading hub.