The R&M “Lettre”

The De Beers June sight closed with an estimated value of $550 million. Diamond prices were reportedly stable at the sight, while sightholders noted a slight increase in the box price of larger goods.

The De Beers Group of Companies today reported that its total rough diamond sales for local beneficiation purposes in 2014 increased 11 percent to $1.56 billion, according to the company’s newly published 2014 Report to Society.

De Beers is selling the Kimberley mine, the century-old South African deposit that was one of the original building blocks of its empire. 

The De Beers May sight closed with an estimated value of $470 million as the mining company reduced its rough diamond prices by an average of 3 percent.

Much has been said about unsustainable rough diamond prices in the past year. The lack of profitability in the diamond manufacturing sector has caused manufacturers to significantly scale down their operations and rough purchases in the past six months.

De Beers cut prices some 2–3 percent at its latest allocation in Botswana, sources say, as attendees noted a more conciliatory tone from the company CEO. 

Lucara Diamond Corp.  recovered a 341.90-carat gem-quality diamond from its Karowe mine in Botswana, while processing fragmental kimberlite from the central and south lobe interface.

Pessimism prevailed at De Beers March sight with more than 30 percent of goods refused, according to several sightholders.

De Beers February sight closed with an estimated value of $550 million

As was broadly expected the presentation of the February Sight was similar to last month with only targeted and minor price adjustments made to a few boxes.

De Beers announced its profits soared more than 33 percent over the past year — a number that may rankle its customers who complain they are losing money on their sight boxes.

Russian diamond miner Alrosa has signed a memorandum of understanding (MoU) to supply the Israel diamond industry with rough diamonds.