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De Beers sold an estimated $480 million worth of rough diamonds at its November sight that ended this past week. Sightholders continue to note difficult market conditions and low profit margins as De Beers has curbed supply and kept its prices steady. “It was a smaller sight than October but it went well,” said Nigel […]
De Beers’ Diamond Trading Company (DTC) sold an estimated $750 million worth of rough diamonds at its October sight recently, while maintaining prices relatively stable.
For many laymen diamonds are mainly associated with South Africa and rarely with Canada, even though the country is one of the three largest global producers of these precious stones..
Last August, The Daily Telegraph newspaper reported that Anglo American’s chief executive Cynthia Carroll had been asked by the company’s shareholders to step down.
The Diamond Source Warranty Protocol, launched this week by various U.S. trade organizations, is a step in the right direction in that diamond suppliers need to guarantee the authenticity of the goods they are selling.
With their Diamond Trading Company (DTC) boxes in one hand and Philippe Mellier’s letter in the other, sightholders appeared more interested in their rough allocations at last week’s sight than what the De Beers chief executive had to say.
De Beers sold an estimated $750 million worth of rough diamonds at the Diamond Trading Company (DTC) October sight this past week, while maintaining prices relatively stable.
After having been almost scrapped in 2007, De Beers’ secondary market seller Diamdel underwent profound renovation when the company decided to transform it in an online auction sale program.
Press release “Dear Sightholder, For an industry that historically evolved slowly, the past several years have seen unprecedented change at an extraordinary pace. A volatile global economy, shifting consumer demographics, new technological innovations, and increased challenges in accessing supply, are forcing all of us to adapt and evolve.
De Beers is talking up the market and downplaying its production, as one expects it needs to do in the current economic environment. And it is not alone, as other miners follow suit.
DTC unable to meet short term sightholder demand. De Beers will be unable to meet sightholder demand for the next six months due to a shortfall in production, according to its chief executive, Philippe Mellier.
Russia revealed that it had trillions of carats of industrial diamonds in a deposit under a 35 million year old meteorite crater called the Popigai Astroblem that is a hundred kilometers wide.