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De Beers chief executive officer Bruce Cleaver talked with JCK Thursday 20th of February, following the release of his company’s preliminary financial results for 2019. The results were, to no one’s surprise, not very good, with total revenue falling 24% and rough diamond sales falling 26%.
Botswana is set to conclude negotiations with De Beers on a diamond sales agreement that replaces the current 10-year deal, which expires in January.
Alrosa has paused production at certain lower-value deposits as the diamond industry continues to face an inventory imbalance and external challenges, its CEO said.
Press release – ALROSA Group announces diamond sales results for January 2020.
Russia’s Eximbank has started offering credit to rough-diamond buyers through a loan deal with an Antwerp-based Alrosa client, the miner said.
Press release – US$545 Million (provisional)
Lucara Diamond Corp. has recovered an unbroken 549-carat white diamond that it says is of “exceptional purity.” The stone was recovered from the Karowe diamond mine in Botswana.
Gem Diamonds has recovered a white diamond weighing 183 carats at its Letšeng mine in Lesotho, the first stone over 100 carats the miner has found this year.
Graff-owned diamond manufacturer Safdico will cut and polish a portion of rough from the Lulo mine through a partnership with Lucapa Diamond Company.
De Beers’ rough diamond output eased 13% to 30,8 million carats in 2019 compared with 35,3 million carats in 2018, according to Anglo American.
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.
Lucara Diamond Corp. has sold Botswana’s largest diamond to Louis Vuitton in a rare move that will see the fashion house partner with an Antwerp manufacturer to polish the stone.