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The best thing one can do about 2012 is simply forget that it ever happened! The market contraction and the drop in rough and polished prices that started in the last quarter of 2011 continued throughout 2012.
Over $3 billion (P25 billion) worth of diamonds have been aggregated in Gaborone and distributed to three countries since the relocation of the exercise from London in August last year, Mmegi reported.
Diamond mining companies are slowly raising their production levels even as many of the major mines continue to face operational challenges.
The BRIC countries – Brazil, Russia, India and China – are the hotbed of growing diamond jewelry consumption. While the U.S. provides the slow, yet steady growth of a mature market, the BRICs are where the diamond industry has found large growth.
There is no truth in a report from Moscow, published simultaneously in two Russian business newspapers on Monday, that the Oppenheimer family is interested in buying shares of the Russian diamond miner Alrosa, if they are privatized by the government later in the year.
Diamond producers have been for some time now struggling to find new, large deposits to replace their aging assets.
The recent slump in gold prices has not impacted the diamond market. Having enjoyed a stable and positive first quarter, diamond trading was steady this week while gold markets were in panic.
The reoccurring debates of the past few years over the evolution of the Kimberley Process (KP) have tended to revolve around a limited number of points, and have somehow always resulted in stagnation.
Investors interested in the diamond junior sector should set out with an awareness of three key facts: the process of taking a mine from exploration to production is long, expensive and has an extremely low success rate.
It is simple for John Q. Citizen of New York City to place money in an offshore account. Just how easy is it for him – and you – to open such an account?
Rising demand and prices characterize the global rough diamond sector today. Demand for rough diamonds is driven by a steady demand for polished and some speculation, leading to premiums of 5-10 percent.
The De Beers April sight ended last week with an estimated value of $650 million after the company raised prices by an average 3 percent.