De Beers has allowed clients to forgo buying certain rough diamonds at the week’s of 24 February sight, as the coronavirus outbreak has raised concerns about a polished glut.
Press release – ALROSA met in Antwerp with its long-term clients and representatives of the Antwerp World Diamond Center (AWDC) to discuss the current market situation and potential scenarios, as well as the needs of rough diamond buyers – the key issue for whom was to receive assurances of purchasing flexibility.
One well-known sustainability champion recently visited the diamond communities in Botswana and documented her journey.
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.