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Low rough diamond demand expected through 4Q. De Beers will allow sightholders to defer their entire November allocations until December as diamond manufacturers remain under pressure from weak market conditions.
De Beers sightholders refused about half of their allocated supply last week, reducing the estimated value of rough sold at the sight to $200 million.
Russia’s ALROSA has discovered a 102.85-carat diamond with a moderate yellowish hue at its Jubilee kimberlite pipe that is thought to be worth more than $480,000.
A 357-carat white diamond recovered at the Letšeng mine in July has sold for $19.3 million.
Sales and profits have plunged at Dominion Diamond, the world’s third-largest diamond producer, and the company has followed other producers and lowered prices in August.
Global diamond output grew 4 percent in value last year to $14.5 billion as the average price per carat jumped 8 percent to $116.17
Lucara Diamond Corp. has released the first images of the Type IIa 336 ct. diamond it uncovered in mid-August.
De Beers reduced prices at this week’s sight by as much as 10.7 percent on some goods, Rapaport has been told.
In an unprecedented move and a sign of the diamond industry’s deepening crisis, De Beers is letting sightholders put off buying up to 75 percent of their allocations at its August sight.
In recent months, industry members and experts have taken quite a lot of pains trying to figure out the cause of stagnation in the diamond market. By all appearances, the diamond market “fundamentals” promise a bright future for the industry
Anglo American plc today (Thursday) announced that De Beers’ diamond production dropped by 6 percent to 8 million carats during the second quarter, ended June 30. Results for the first six months of the year also showed a decline of 3 percent, from 16 million carats in 2014 to 15.6 million carats in the first […]
2Q operations update. ALROSA sold 18 million carats of rough diamonds for $2.1 billion in the first half of 2015, representing a significant decline from a year earlier.