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Company hails smooth transition from London to Gaboron. The De Beers November sight closed with an estimated value of $480 million, slightly higher than presight estimates as sightholders saw a bit more profitability in the goods on offer.
Diamond market overview In the run up to Thanksgiving in the US market, polished traders reported last minute orders from US retailers.
For investors looking for exposure to the diamond market, 2013 has not lived up to expectations. In fact, while U.S. stocks have rallied this year, pure-play diamond companies have struggled along.
In recent months, we have discussed in this column the retail scenarios, including expectations for future sales. Our outlook has been generally cautious, offering data that indicates rising jewelry sales, while pointing out that diamond jewelry sales are losing market share, for example.
In the past two decades, we have witnessed the gradual transition of De Beers from an ivory-towered monopoly to a commercial venture struggling to shake off its past and find a new way.
Gaborone, Botswana – This week marks De Beers’ inaugural sight in Gaborone following the relocation of its sales activities from London to Botswana, a move that has been two years in the making.
The current year, not the best for the global diamond industry, witnessed a whole series of events and phenomena arousing discussions in the trade.
Congratulations are due to the UN following the announcement by the M23 rebel force in the Democratic Republic of Congo that it is disarming, thus ending a long-lasting insurgency in the country.
The IDEX Online Polished Diamond Index was nearly flat in October, increasing by 0.1 percent compared to September. One-carat rounds declined by 0.4 percent in October.
Reports that India is considering raising the import duty on polished diamonds from 2 percent to 5 percent is a stunning development. Especially in the context of the difficult year that the local industry has endured, such a move would be shortsighted and damaging to the trade.
A few years ago, during a trade show, I bumped into a diamond trader I know who presented me with his new business card. On one side of it, the card had the expected contact details of his new diamond venture, but the other side held a surprise – the name and address of a […]
Bain & Company, a leading global business consulting firm, offering solutions on issues of strategy and operations, works with over 2,700 major multinational corporations across every economic sector, including the diamond mining industry.