My Fair Diamond: African Development Jewelry, Made in Antwerp

In 2015, CAP Conseil, a sustainable development consultancy based in Belgium, presented the Antwerp World Diamond Centre (AWDC) an idea for a fully ethical and traceable diamond jewelry project from small-scale origin. Two years later, the first MY FAIR DIAMOND collection has become a reality.

SustainabilityRetail and Consumer ConfidenceIn-depthManufacturingRough MarketJewelry

De Beers Holds Smallest Sight in Two Years: $370M in Cycle 8

De Beers Group today announced it earned $370 million in rough diamond sales (Global Sightholder Sales and Auction Sales) for the eighth sales cycle of 2017, making it the smallest sight in terms of value since the company started publishing its sales results in 2016. The value of diamond sales in the eighth cycle is 27% lower than the $507 sold in Cycle 7, and 25% lower than the same period a year ago. 

Rough Market

Known Origins Attracting Top Jewelers to Rough Diamonds

High jewelry houses are increasingly going straight to the source to acquire rough diamonds that they will turn into their beautiful creations, writes Ming Liu in a feature for CNN. Typically, the larger category of rough diamonds are obtained by specialist diamond cutters and polishers who analyze each stone to determine the ideal cut in which to shape them, and only after this process are the polished gems usually presented to high jewelry houses.

Rough MarketOrigin TrackingJewelry

Gemfields Holds First Auction Since Pallinghurst Takeover, Earns $21.5M

Pallinghurst has announced the results of an auction of higher quality rough emeralds held by Gemfields plc (“Gemfields”, which is 100% owned by Pallinghurst) - its first emerald auction since Pallinghurst took over the company - held in Lusaka, Zambia, from 2 – 5 October 2017.

Rough Market

ALROSA To Auction Special (+10.8 Ct) Rough Diamonds in Vladivostok

ALROSA will hold an international auction for the sale of special size rough diamonds of 10.8+ carats in the Eurasian Diamond Centre in Vladivostok from October 16 to 27, the company announced in a press release. The Company is putting for sale 72 gem-quality lots with the total weight of 1,170 carats, the largest one weighs 47.55 carats. All the stones to be auctioned were mined from the deposits of PJSC ALROSA, and its subsidiaries – JSC Almazy Anabara and PJSC ALROSA-Nyurba. A total of 67 companies from Belgium, India, Israel, China and the USA have applied for the auction.

Rough Market

Junior Miner Diamcor Sells $1.3M Rough Diamonds from S. Africa Project in Q2

Canadian junior miner Diamcor Mining Inc.

Mining and ExplorationRough Market

ALROSA Rough Diamond Sales Fall 30% in September to $306M

In September 2017, Russia's ALROSA Group sold $309.7 million worth of rough and polished diamonds, with rough diamond sales amounting to $305.8 million and polished diamond sales $3.9 million. For rough sales, this result represents a 29.7% decline compared to September of 2016, but is also the highest sales figure since June 2017, and a nearly 19% increase from the $258M sold in August.

Mining and ExplorationRough Market

Stornoway Q3 Results: Production Up, Improved Prices, Breakage Continues

Stornoway Diamond Corporation has released its third quarter production and sales results from its Renard Diamond Mine in Quebec, with better ore grades leading to higher carat recoveries; the junior miner also saw growth in carats sold and an improving price per carat, though the issue of diamond breakage has yet to be solved. During the quarter, 506,380 tons of ore were processed compared to the plan of 540,000 tons (-6%).

Mining and ExplorationRough Market

New Price List for CAR Diamonds To Reflect Market, Remedy Undervalued Exports

The Bureau d'Évaluation et de Contrôle de Diamant et d'Or (BECDOR) in the Central African Republic, which oversees the country’s production and trade of diamond and gold, maintains a database and assesses the value of diamond parcels that are to be exported from the country, has just set up a new price list - defining mineral prices between government and traders. The new price list for these mineral resources is designed to enable the State to have enough financial resources to meet its obligations, reports APA News (Agence de Presse Africaine).

Rough MarketMining and ExplorationFinance and Trade

High Volumes Lower-Priced Rough Define Antwerp Trade in Q3, Polished Exports -1%

The trend of high volumes of lower-priced rough diamond exports from Antwerp that started in full force during May continued to define the rough trade through the third quarter (July-Sept.), while the diamond capital’s polished trade recorded somewhat soft results. According to figures published by the AWDC, on a year-over-year basis, the volume of rough diamond exports during the quarter increased nearly 12%, totaling over 27 million carats, while their value actually declined by 13% to $2.7 billion. The volume of rough imports also increased 1.5% while their value also tumbled by 13%.

Rough MarketPolished

Taxation Issues Hindering Purchase of Rough Diamonds in India

According to The Economic Times, Indian diamond traders that participate in rough diamond auctions at Mumbai's Indian Diamond Trading Centre (IDTC) are complaining that taxation issues are reducing their activity to mere window shopping. "Diamantaires can see the rough diamonds they bid for at the IDTC, but the delivery doesn't happen locally .. despite their successful bids at Bharat Diamond Bourse", the newspaper writes.

Finance and TradeEconomyRough Market

Paul Zimnisky on The Rise of Large Diamond Recoveries

Paul Zimnisky

Firestone Diamonds' Rough Prices Fall to $69/ct, May Need More Financing

Firestone Diamonds sold a total of 195,330 carats at their latest tenders in July and September 2017 in Antwerp, netting total sale proceeds of US$13.5 million, including the sale of the company's second >US$1 million stone. Nonetheless, the average value per carat fell to $69 from $107/ct.

Mining and ExplorationRough Market

ALROSA President Ivanov Talks Polished Diamonds with U.S. Industry Leaders

On September 27, ALROSA President Sergey Ivanov held a meeting with representatives of U.S. diamond industry: the President of U.S.

Rough Market

GIA's Russel Shor Explains Shift To Lower Quality Diamond Production

GIA senior industry analyst Russel Shor, in his recent article, "Diamond Producers Aim for Lower Qualities in Today’s Market", explains how sophisticated mining techniques enable major diamond miners to target their drilling to meet polished diamond demand.

Mining and ExplorationRough Market

Lucara Diamond Sells 1,109 Ct. Lesedi La Rona to Graff for $53 Million

At long last, Lucara Diamond has sold the 1,109 carat Lesedi La Rona - the largest rough diamond in existence - recovered from the Karowe mine in Botswana on November 16 2015, for $53 million ($47,777 per carat) to Graff Diamonds.

Rough MarketWorld News

Philippe Barsamian Elected President, Federation of Belgian Diamond Bourses

The Federation of Belgian Diamond Bourses (FDBD), the umbrella organization for Antwerp's four diamond bourses, has elected Philippe Barsamian as president. Mr. Barsamian has been a member since 1974 of the Antwerp Diamond Club. He became a member of the ADC's board of directors in 1998, serving as managing director from 2000 to to 2002, and as vice-chairman since 2002. He has also been a member of the Federation of Belgian Diamond Bourses since 2006, and was a member of the Antwerp World Diamond Centre's Board of Directors from 2008 to 2014.

Rough Market

Mountain Province Holds Largest Rough Diamond Sale To Date

Canadian miner Mountain Province Diamonds Inc., a 49% participant with De Beers Canada in the Gahcho Kué diamond mine located in Canada’s Northwest Territories, today announced its recently completed seventh diamond sale in Antwerp was the largest to date in terms of volume and value.

Rough MarketMining and Exploration

Petra's 2017 Production & Sales Up, Profit Down, Restarts Tanzania Mine

Petra Diamonds Ltd., the London-based diamond miner with mining operations in South Africa and Tanzania, reported its FY 2017 revenue up 11% to $477.0 million (FY 2016: $430.9 million), though its adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) fell to $157.2 million from $164.3 million in the year before due to delayed ramp-up of the expansion programs and higher cash costs. The miner's net profit after was down 69% to $20.7 million (FY 2016: $66.8 million).

Mining and ExplorationRough Market

Petra Diamonds Hits Valuation Snag in Tanzania, Shipment Seized, Mining Suspended

Government authorities in Tanzania have seized a shipment of diamonds belonging to London-based Petra Diamonds, saying the miner under-declared the value of its mineral exports. On August 31, customs seized a parcel containing 71,654 carats rough gems at the Dar Es Salam airport as they were being exported to Antwerp by Williamson Diamonds, in which Petra holds a 75% stake and the Tanzanian State 25%.

PoliticsEconomyWorld NewsMining and ExplorationRough Market

Dominion Diamond Announces Auction of Fancy Yellow Rough Diamonds in Antwerp

Dominion Diamond Corporation has announced an auction of fancy yellow rough diamonds in cooperation with I. Hennig Tenders. The auction viewings will take place in Israel and Antwerp. The auction will commence with viewings in Israel from October 29 to November 1, 2017 and will conclude in Antwerp from November 6 to 10, 2017. Participation in the viewings and the auction is by appointment only. For more information and to arrange a viewing request email tenders@ihennig-tenders.com.

Rough Market

Alrosa Specials Auction Fetches US$14.8m

Alrosa today announced the results of its rough specials and polished diamond auctions, held at the Eastern Economic Forum. The rough specials of 10.8+ carats, 1,293cts total achieved a total sales price of USD14.8 million, while 33 of the 36 polished stones, 2 to 12 carats were sold for a total sales value of USD 1.7 million. According to Alrosa VP Okoyomov the auctions were attended by some 50 companies from the US, India, Israel, Belgium and the UAE.

Finance and TradeRough MarketPolished

Innovation Comes to Antwerp Diamond Trade

Antwerp's Polished Diamond Exports Jump 7% in August

The value of polished diamond exports from Antwerp jumped by 7% y-o-y as their volume surged by 30% in the month of August. The sharpest value increase was in exports to Switzerland (+84%), while those to the US remained flat and those to Hong Kong fell by 10%. Polished imports fell by 14% in volume but only 3% in value. Meanwhile, the volume of rough diamond exports from Antwerp remained comparatively high in the holiday month of August as the industry took a three-week break.

Rough MarketPolished

De Beers Rough Diamond Sales Fall in Cycle 7

According to yesterday’s media release, De Beers’ rough diamond 7th sales cycle fell by 12% to $505 million, from July’s $576 million. This represents a 21% decrease over rough diamond sales valued at $539 million at Sight 7 a year ago. For the first six cycles of the year to date, De Beers' rough diamond sales are valued at $3.50 billion, a 1.5% decline compared to the $3.56 billion sold during the first six cycles of 2016. 

Rough Market

Rough Diamond Mix, Strong Ruble Send ALROSA's H1 Profit Tumbling

Russian diamond mining giant ALROSA announced that its revenue in H1 2017 fell by 17% in current value terms to $2.66 billion (RUB 155.6B), while net profit tumbled by 46% to $840M (RUB 48.9B).

Mining and ExplorationRough Market

De Beers to Make Largest Marketing Investment in a Decade

The De Beers Group today announced it will invest more than $140 million in marketing this year - its biggest spend since 2008, when the Group was spending an estimated $100 million annually. The increased investment will be focused on generating further consumer demand for diamond jewellery in the leading markets globally, with the greatest spend targeted in the US, China and India, the company states.

Rough Market

'Roadmap' To Aid Russian Diamond Polishers Could Impact ALROSA

According to an article in The Kommersant Daily, Russia's Ministry of Finance has prepared a 'roadmap' for the development of Russia’s diamond manufacturing industry, which could become one of the biggest reforms in its history. "In particular", the news agency writes, "it is said to be aimed at serious mitigation of state regulation and reducing the tax burden on Russian diamond manufacturers, as well as at expanding their access to raw materials. This threatens to revise the marketing and investment policy of ALROSA and add to its financial burden.

Mining and ExplorationRough MarketManufacturing

Koin International To Tender Merlin Diamonds in Antwerp

Merlin Diamonds Ltd has shipped a parcel of rough diamonds to Koin International (Koin) following the receipt of the requisite Kimberley Process Certificate for an auction commencing on August 30. The Merlin diamond mine in Australia’s Northern Territories is famous for producing large, high clarity, white, high value diamonds, including the largest diamond ever unearthed in Australia, at 104.73 carats.

Mining and ExplorationRough Market

ALROSA Appoints Rough Sales Management Team

Russian diamond mining giant ALROSA recently announced that it has renewed the contract of Vice President Yury Okoyemov, who has been in charge of the Russian diamond miner's sales policy for eight years. Okoyemov is one of the authors of ALROSA's current system of selling rough diamonds, focused on long-term contracts. This system was introduced after the financial crisis of 2008-2009, when the auction sales that ALROSA previously focused on virtually stopped.

Rough Market

Botswana’s Rough Diamond Exports Slow in H1 2017

Botswana's exports of rough diamonds produced at the major mines the country fell in the first half of 2017 by 8.6% compared to the same period a year earlier, and 25% compared to the second half of 2016, according to statistics from the Bank of Botswana. In total, the country exported rough diamonds valued at $1.65 billion during the most recent six month period, down from $1.81 billion in H1 2016 and $2.21 billion in H2 2016. First quarter sales during the year were strong, but tapered off in the second quarter, falling to only $105.9 million in June.

Rough Market

Canadian Miner Stornoway Diamond Achieves Higher Prices in Q2

Despite ongoing breakage issues during processing, Canadian junior miner Stornoway Diamond experienced an uptick in prices for rough diamonds from its Quebec mine during the second quarter of 2017. At its two tenders held in Antwerp during the period, Stornoway achieved average diamond pricing of US$87 per carat, compared to US$81 per carat in the first quarter. “We are particularly encouraged by the steady increase in pricing for Renard diamonds as the market familiarises itself with our production,” said company President and CEO Matt Manson.

Mining and ExplorationRough Market

Let’s talk about the Lesedi [La Rona, 1,109-ct rough diamond]. I use this analogy. Everybody [on the call] knows one or two wealthy people who could go out and buy a Lamborghini at $250,000. What we’re asking for the stone is for somebody to go out and spend the equivalent of 280 Lamborghinis. And I use that as an example because I don’t think people quite understand the quantum of money we’re looking at here. And what you’re buying is something for which you’re going to have to rely on expert opinion to give you the full details of what you can expect on the stone, without really knowing the full outcome, the quality. We do have one or two options [to sell it]. If that doesn’t pan out, I think most [surely] within the next six weeks to eight weeks, we’ll most [likely] look to enter into a partnership.

- William Lamb, CEO Lucara Diamond Corp., on possibility of revenue-sharing partnership to sell the 1,109-carat Lesedi La Rona diamond

Antwerp Diamond Trade: High Vol. Rough Exports Continue, Polished Exports Show Positive Signs in July

The trend of high volumes of rough diamond exports from Antwerp continued in July, while the diamond capital’s polished trade showed signs of life among persistently soft results. According to figures published by the AWDC, on a year-over-year basis, the volume of rough diamond exports increased significantly (20%) for the third month in a row (+55% May, +53% June), totaling nearly 11 million carats, while their value actually declined by 4% to $1.1 billion. The volume of rough imports also increased 15% while their value tumbled by 14%.

Rough MarketPolished

Exceptional Stones Drive Lucara Diamond Corp.'s Strong Q2 Results

Lucara Diamond Corp. the Canadian junior diamond miner whose key asset is its 100% owned, state-of-the-art Karowe Mine in Botswana reports strong Q2 results despite a decline in mined ore volumes and carats recovered, as higher value recoveries compensated for lower grades. Q2 revenue was $79.6 million or $1,336 per carat from 62,434 carats total, which compares favorably to Q2 2016, where Lucara sold $77.7 million at $1,017 per carat from 107,801 carats total (figures exclude the 2016 sale of the 813-carat Constellation diamond for $63.1 million, for a more accurate comparison).

Mining and ExplorationRough Market

De Beers Rough Diamond Sales Trend Up to $572M in Cycle 6

De Beers rough diamond sales at Sight 6 (Global Sightholder Sales and Auction Sales, July 24-28) provisionally totalled $572 million, according to today's media release. This represents an 8% increase over rough diamond sales valued at $528 million at Sight 6 2016, and a nearly 6% increase over the latest sales Cycle 5 (June 12-16, 2017). For the first six cycles of the year to date, De Beers' rough diamond sales are valued at $3.50 billion, a 1.5% decline compared to the $3.56 billion sold during the first six cycles of 2016. 

Rough MarketMining and Exploration

The State of the Diamond Industry in the Second Half of 2017

Independent analyst and consultant on diamonds and the mining industry, and publisher of the Zimnisky Global Rough Diamond Price Index, Paul Zimnisky has published an in-depth article on the current state of the diamond industry as it heads into the second half of 2017. Reprinted from Paul Zimnisky Diamond Analytics, courtesy of Paul Zimnisky.

PolishedMining and ExplorationMarket AnalysisRough MarketRetail and Consumer Confidence

De Beers Reports Mixed H1 FY Results: Higher Vol. Rough Sales, Savings Offset Lower Prices, Revenues

De Beers and parent company Anglo American (AA) today announced their interim financial results for the six months ended 30 June 2017, with the diamond giant reporting a mixed bag while the diversified miner saw its massive restructuring bear fruit. De Beers underlying financial result were positive, as Underlying EBITDA (earnings before interest, taxes, depreciation, and amortization) increased by 3% to $786 million (H1 2016: $766 million), capital expenditure (Capex) dropped significantly and its return on capital employed (ROCE) for the year increased from 7 to 11%.

Mining and ExplorationRough MarketFinance and Trade

Ten Years of Rough Diamond Prices: Quarterly Analysis by Paul Zimnisky

Independent analyst and consultant on diamonds and the mining industry, and publisher of the Zimnisky Global Rough Diamond Price Index, Paul Zimnisky has published an in-depth article charting the vicissitudes of rough diamond prices on a quarterly basis for the past 10 years - since the onset of the global financial crisis. We consider this a must-read for anyone seeking to gain insights into the diamond industry as a whole and rough supply-side dynamics in particular.

Rough MarketIn-depth

Botswana's Okavango Rough Diamond Sales Up 9% in H1 2017

Botswana's state-owned Okavango Diamond Company (ODC) sales rose 9 percent to $309 million in the first half of the year as demand improved, its deputy managing director said on Friday. Marcus ter Haar told Reuters the company had sold 1.8 million carats in five auctions held since January, for an estimated average price of $172 per carat. "The volumes of carats sold were 3 percent higher than the same period in 2016," he said.

Mining and ExplorationRough Market

ALROSA Rough Diamond Sales Slow to $354M in June, $2.4B in H1 (-2%)

In June 2017, Russia's ALROSA Group sold $365 million worth of rough and polished diamonds, with rough diamond sales reaching $354.4 million and polished diamond sales $10.6 million, the company announced in a press release. The company's rough sales showed a significant value decline from the $468 million in rough sold in May. The volume of rough sold was not stated, but the value decline is a result of the company reducing stocks of smaller and cheaper stones.

Mining and ExplorationRough Market

KP Publishes Global Diamond Trade Summary, 2016

The Kimberley Process has published its 2016 figures for the global diamond trade, covering rough diamond production and value, imports and exports, as well as KP Certificate counts. The most notable takeaway is that while overall the volume of rough diamond production in 2016 increased 5% to 134.1 million carats from 127.4 million carats, the value of that output slid 11% to $12.4 billion from $13.88 billion the previous year. From a trading standpoint (imports & exports), however, the KP reports a significant upturn following the 'crisis' year of 2015.

Rough MarketMining and ExplorationIn-depth

Antwerp Rough Diamond Exports Continue Surge in June, Polished Still Sluggish

Antwerp's diamond trade in June mirrors the trends we have seen from the diamond capital over the first half of the year 2017, with significant volume increases of lower-priced rough exports and a persistently soft polished trade. On a year-over-year basis, the volume of rough diamond exports increased for the second month in a row by more than 50% (53%) while their value rose only 24%. The volume of rough imports also surged 31% while their value lagged behind at 5%.

Market AnalysisFinance and TradeRough MarketPolished

ALROSA President Ivanov Meets Israel Diamond Industry Leaders

Representatives of Israel's diamond industry want ALROSA to increase supplies of rough and polished diamonds through its tenders in Israel, the Israel Diamond Institute (IDI) said in a press release. The IDI said its president, Shmuel Schnitzer, and Israel Diamond Exchange (IDE) President Yoram Dvash met with Sergey Ivanov, President of ALROSA, for the first time since he became the giant Russian miner's chief in March.

Rough Market

Mountain Province Records Strongest Rough Sale To Date

Mountain Province Diamonds' fifth diamond sale of diamonds from the Gahcho Kué mine in Canada was its best to date, setting new highs in overall revenue, carats sold and price per carat. The junior miner sold 220,000 carats at its June tender in Antwerp, earning $2.1 million for an average price of $95 per carat, a solid increase from the $72 and $86 per carat earned respectively in sales 1-3 and 4. 

Mining and ExplorationRough Market

ABN AMRO Analyst: Diamond Market Recovery "Grinds to a halt"

In ABN AMRO's lastest iteration of the biannual Diamond Market Outlook, Coordinator FX & Precious Metals Strategy Georgette Boele writes, "The recovery in the diamond trade has grinded to a halt at the start of 2017", as US consumer spending has been disappointing in Q1, lower consumption in Hong Kong and Macau has negatively affected demand (according to company reports from main jewelers in the region) and Chinese retail sales were weaker in January and February.

Rough MarketPolishedRetail and Consumer Confidence

Edahn Golan: Lower Price Jewelry on Rise, Rough Prices Not Falling

In his latest blog post, "A Market in Chaos", diamond industry researcher and analyst Edahn Golan examines the disconnect between the rising trend of lower price point/smaller-diamond jewelry and the willingness of manufacturers to pay more for the rough to produce it. He starts with trends in the consumer jewelry market - because this is the ultimate determining factor for the diamond market - that are demonstrating a distinct shift towards lower value goods. Drawing on his impressions from the JCK Las Vegas show, Golan writes, "The trend of smaller diamonds stood out.

Rough MarketManufacturingPolishedJewelry

De Beers Rough Diamond Sales Hold Steady at $530M in Cycle 5

De Beers sold $530 million worth of rough diamonds at the fifth sales cycle of 2017 (Global Sightholder Sales and Auction Sales), marking a 1.5% increase over Cycle 4 ($522 million) and a 6% drop from Cycle 5 in 2016.

Rough Market

Lucapa Earns $1M from Sale of 1,236 Carats Rough Angolan Diamonds

Australian junior miner Lucapa Diamond Co. earned US$0.95 million (A$1.25 million) from a parcel of 1,236 carats at their fifth sale in 2017 of rough diamonds from the Lulo Project in Angola. This represents an average price of US$770 (A$1,013) per carat, and brings their total 2017 sales to US$15.4 million (A$20.3) at an average price of US$1,620 (A$2,132) per carat. 

Rough Market

India's Polished Diamond Exports up 4% in May

India's exports of cut and polished diamonds in May increased 3.67% year-over-year to US$2.05 billion from US$1.98 bn in the same month a year earlier, according to provisional data released by The Gem & Jewellery Export Promotion Council (GJEPC). For the fiscal year to date (April-May 2017), polished exports are up a single percentage point at US$3.8 billion. Rough imports during the month were up 22.5% in value terms at US$1.86 billion compared to US$1.52 billion imported during the previous May. Rough imports have increased 5% for the first two months of the year.

Rough MarketPolished

De Beers to Close Rough Diamond Auction Sales Office in Dubai

Rapaport News has obtained a letter from De Beers to its clients informing them that they will close its auction-sales office in Dubai due to declining demand from local companies. According to the letter, De Beers will terminate its Dubai rough auctions on July 31, meaning De Beers will no longer display rough diamonds there from the year’s sixth sales cycle onward.

Rough Market

ALROSA and DMCC Discuss Cooperation Prospects

ALROSA President Sergey Ivanov and Executive Chairman of the Dubai Multi Commodities Centre (DMCC) Ahmed Bin Sulayem agreed upon enhancing cooperation in diamond trade, according to a press release from ALROSA distributed on Wednesday. At a working meeting in ALROSA’s headquarters in Moscow, Ivanov and Sulayem discussed options for expanding ALROSA’s trading activities at the Dubai Diamond Exchange, a trading platform within DMCC. The parties also agreed to step up fight against undeclared synthetic diamonds.

Rough Market

Dominion Diamond Corp Announces Auction of Fancy Rough Diamonds

Dominion Diamond Corporation has announced an auction of fancy rough diamonds in cooperation with I. Hennig Tenders. The auction viewings will take place in Israel, New York, and Antwerp. The auction will commence with viewings in Israel from June 18-21, 2017; New York from June 26-28, 2017; and will conclude in Antwerp from July 3-7, 2017. Participation in the viewings and the auction is by appointment only.

Rough Market

Antwerp Diamond Trade Bounces Back in May

Antwerp's diamond trade bounced back in May after a modest month of April, with significant increases across the board compared to the month prior. On a year-over-year basis, the volume of rough diamond exports increased by more than 55% although their value fell by 3%, while rough imports increased more than 13% in volume while declining 18% in value. Value increases were recorded for imports as well as exports of polished goods, while the volume of imports increased nearly 5% and the volume of exports were down 12%.

Rough MarketPolished

De Beers has no exclusive right to mine diamonds in Namibia and cut them. Alrosa can also participate. We made the first step and offered development of the joint sales system to the Namibian party. Namibia is gradually parting with De Beers and attempting to sell gems independently.

- Deputy Prime Minister Yuri Trutnev on Russian diamond miner Alrosa cooperating with Namibia on diamond sales

 

De Beers Announces Polished Auctions

Diamond miner De Beers Thursday announced it will start a pilot project in June, selling polished diamonds, manufactured directly from the company’s rough by third parties to registered De Beers Auction buyers. The polished goods will be accompanied by grading reports from both De Beers’ own International Institute of Diamond Grading & Research (IIDGR) and the Gemological Institute of America (GIA).

Rough MarketManufacturingPolished

Graff Acquires 373 Carat Diamond Fragment of 'Lesedi La Rona'

Graff Diamonds announced they had added to their collection of exceptional stones by acquiring the 373.72-carat rough diamond sourced from the Karowe mine in Botswana. The stone was once a part of the Lesedi la Rona, the second largest gem quality diamond to ever be discovered and the largest to be unearthed in the last century. According to Graff the fragment was separated from its famous sibling during the recovery process.

Rough Market

De Beers Cycle 4 Rough Diamond Sales ($520M) Steady, Lower than 2016

De Beers Group today announced the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for the fourth sales cycle of 2017, provisionally valued at $520 million. The fact that sales remain solid as the summer slowdown looms indicates continuaing upbeat sentiment in the manufacturing sector, spurring demand. Cycle 4 sales were down 11% from the revised figure of $586 million sold at the last sight (contract sales session) and slipped 18% from the fourth cycle a year ago.

Mining and ExplorationRough Market

Lucara Earns $55 Million from First Exceptional Diamond Tender of 2017

"When you’re selling your offcuts for almost $20 million, you know something is going right," writes Thomas Biesheuvel for BloombergPursuits. "Lucara Diamond Corp. just sold a 373.7-carat diamond for US$17.5 million.

Mining and ExplorationRough Market

$7.8M Bid For Sierra Leone's Giant Diamond Rejected, Will Try Again in Antwerp

Sierra Leone's government announced yesterday (May 11) that it would seek higher offers in Antwerp for a massive 709-carat diamond after receiving underwhelming offers at auction in Freetown. British citizen Ziad al-Ahmadi, based in Antwerp and reportedly working for Raydiam BVBA, placed the $7.7 million bid which failed to match the government's unspecified reserve price, and turned out to be far lower than the $50 million the Sierra Leone government had originally hoped for, prompting the decision to try again in Belgium.

Rough Market