De Beers rough diamond sales for cycle 1, 2016
Press Release – The De Beers Group of Companies today announced the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for the first sales cycle of 2016.
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De Beers to offer rough diamond tender at Mumbai IDTC
In a change to its usual practice, De Beers, through its online auction subsidiary Diamdel, will offer small and medium Indian diamantaires an opportunity to participate at a rough tender, according to The Times of India.
Rough diamond market stand-off may yet prove costly – Insights
Now that 2015 is coming to an end, mining companies are reportedly preparing to reduce rough diamond prices in January. Having held off from doing so in the fourth quarter of this year, the industry may be missing an opportunity to capitalize on an expected seasonal improvement in polished demand at the beginning of 2016.
Rough producers may cut prices further: Moody’s
Rough diamond producers will have to slash prices further as a 28 percent slump from a peak in 2014 may be insufficient to revive demand, according to Moody’s Investors Service.
De Beers to cut 2016 production amid Anglo American overhaul
De Beers expects diamond production to fall to between 26 and 28 million carats in 2016 from 29 million carats this year as the mining giant outlined its view of the “stock crisis” affecting the industry.
De Beers sells Kimberley mine for $7.2 million
In a historic deal that ends a century of involvement in the town that launched its empire, De Beers has sold its Kimberley mine to a consortium that comprises Petra Diamonds and Ekapa Mining for $7.2 million.
Two more big diamonds discovered
London – The large diamond finds continue, with mining company Petra Diamonds Ltd. recovering a 23.16-carat pink and Lucara coming up big again with two more exceptional stones.
De Beers sets dates for 2016 sights
De Beers has announced the dates of its sights in 2016: Sight 1: Monday January 18 – Friday January 22 Sight 2: Monday February 22 – Friday February 26
1,111-carat diamond found in Botswana
Vancouver, B.C. – Lucara Diamond Corp. President and CEO William Lamb knew that it was either very good or very bad news when his phone rang at 1:28 a.m. Monday morning Vancouver time.
De Beers November sight slumps to estimated $70M
De Beers recorded one of its smallest ever contract sales in November as last week’s sight closed with an estimated value of $70 million. The rough diamond supplier kept prices stable and enabled extra flexibility due to the slump in sightholder demand.
IDMA’s Shkadov calls for diamond price stability
Expects manufacturing recovery in 2H 2016. Rough diamond prices need to come down by 15 percent but the market needs to stabilize first, Maxim Shkadov, president of the International Diamond Manufacturers Association (IDMA) told Rapaport News.
Waddling forward, will sight 9 total less than $100 million?
A quick note before Sight 9 – it’s going to be small, but it will take place. De Beers is adapting to the market, or as some may say, they are playing it by ear. The company is trying to meet the changing needs of its clients. Sadly, these changing needs seem mostly like detrition.