Gem Diamonds Earns $12M from 'Flexible' Large Stone Tender

Gem Diamonds is seeking alternative methods to keep revenue flowing during the days of the coronavirus lockdown. Today they announced that the first round of the flexible tender sales process concluded on 26 March 2020 and raised US$12.1 million for a selection of Letšeng’s large, high quality diamonds.

Rough Market

Alrosa Allowing 100% Deferral of Contracted Diamond Purchases

Russian diamond miner Alrosa will allow its long-term contracted clients to defer !00% of their April supply to later this year, a spokesperson has told us. "The spread of coronavirus and counter-pandemic measures implemented around the globe have severely affected the diamond industry. With this in mind, Alrosa supports its long-term clients with a full flexibility for the April 2020 trading session, lifting mandatory buyout requirements."

Rough Market

De Beers Cancels April Rough Diamond Sale

De Beers has cancelled its third rough diamond sale (sight) of 2020 in response to the logistical difficulties arising from the COVID-19 pandemic. "Due to the public health restrictions on the movement of people and product in Botswana, South Africa and India, which prohibit customers from traveling and prevent the shipment of goods to customers’ international operations, De Beers Group will not hold its third Sight of 2020," the miner wrote in a press release.

Rough Market

Alrosa Launches Digital Large Rough Tender

In an effort to tackle difficulties caused by travel restrictions in the framework of the COVID-19 crisis, the Russian miner Alrosa has decided to cancel its special size auction and has set up a digital tender for a number of large rough diamonds, running from March 23 to April 6. Interested buyers will be able to see a full digital scan of the rough, making it easier to decide whether or not to make a bid.

Rough MarketMining and Exploration

Lucapa Diamond Earns First $4M From Graff Manufacturer Partnership

Lucapa Diamond Co. has announced that the Lulo alluvial mining company, Sociedade Mineira Do Lulo (“SML”), is to receive US$4.0 million (A$7.0 million) under a partnership agreement with leading international diamond manufacturer Safdico International. The partnership was forged in an effort to create added value for some of Lucapa's exceptional rough diamonds.

Rough MarketManufacturing

Grib Diamonds Earns $20M at Latest Antwerp Auction

Grib Diamonds, the Antwerp-based marketing arm of Russian miner AGD Diamonds, conducted an auction on March 23, 2020, selling 90% of the lots on offer for approximately $20 million. Due to the spread of the coronavirus and the cessation of much of worldwide trade, prices were under considerable pressure, the company noted. This price decline was anticipated following the diminution in activity in the main centres of sales and processing of rough diamonds.

Rough Market

Gem Diamonds Earns $8M at Small Diamond Tender in Antwerp

Gem Diamonds held a tender of small diamonds in Antwerp from the Letseng mine in Lesotho, earning $7.8 million at the sale which concluded earlier this week. The miner called the results "resilient" given the circumstances, as the average price per carat fell 18% below the like-for-like prices reached at the last small diamond tender held in November last year before the Covid-19 economic crisis.

Rough Market

De Beers' 3rd Sight Will Go On Despite Botswana Travel Ban

De Beers third sight (rough diamond sale) of 2020, scheduled for March 30 to April 3 in Gaborone, will go ahead as planned despite Botswana’s announcement of a travel ban on foreigners arriving from “high risk” countries that include Belgium, China and India. Many of the companies that participate in De Beers’ sales are headquartered in these countries.

Rough MarketWorld News

Antwerp Diamond Office to Remain Open

The Antwerp World Diamond Centre (AWDC) has released a coronavirus-related update to the Antwerp diamond community, stating that the Diamond Office will remain open. The Diamond Office is essentially the beating heart of Antwerp's diamond trade, being the place where all rough and polished diamonds are imported and exported from the country. In a typical year, that is $46 billion annually, or $210 million every working day.

Rough MarketPolished

Alrosa Grants More Flexibility to Clients, Lowers Minimum Purchase to 40%

Russian diamond miner Alrosa is offering greater flexibility to its long-term customers at its March trading session, taking "further action to support long-term customers amid global market uncertainty," the company wrote in a press release. Given the current market developments, they say, the company has decided that, starting this week, it will let customers lower their minimum purchase to 40% of their initially-contracted volume and carry the remaining part over to the end of May 2020.

Rough Market

Antwerp Diamond Shipments Blocked by Indian Customs

Mumbai Customs in India has seized two shipments of diamonds from Antwerp – one rough, one polished – on very questionable grounds, according to a trusted source. Another sixteen shipments are on hold.

LegalRough MarketPolished

Alrosa's Rough Sales in February Better Than Expected at $342M

Russian diamond miner Alrosa earned less at its February rough sale than in January but defied expectations somewhat by limiting the damage despite the nervousness pervading the indsutry. The miner's February rough diamond sales totaled $342.3 million, representing a 12% decline from January sales of $390.2 million and no change (+0.5%) from February 2019. Total sales for the month fell 14% to $346.4 million from $405 million last month due to a 74% decline in polished diamond sales, which fell to $4.1 million from $14.8 million in January.

Rough Market

Alrosa’s Q4 Mitigates Declines in 2019, Annual Profit Falls 31%

Russian diamond miner Alrosa has published its financial results for 2019, and while the totality is not pretty, there was reason for optimism to close out the year. As expected, Alrosa’s performance in 2019 was subject to pressure from external factors, and while the miner took steps to respond accordingly, it could not prevent its profit from falling 31% for the year, to 90.4 billion rubles ($1.26 billion) to 62.7 billion rubles ($876 million). For the full details, click 'Read the full article'.

Rough MarketMining and Exploration

Alrosa Meets With Clients in Antwerp Ahead of March Trading Session

Russian diamond miner 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.

Rough Market

Antwerp's Polished Diamond Trade in Feb. Impacted By Coronavirus

The cautious optimism that had returned to the Antwerp diamond industry following the first month of 2020 was short-lived, as the explosive spread of the coronavirus COVID-19 in February effectively closed eastern markets and caused great uncertainty across the global diamond trade. Antwerp's rough-diamond trade still enjoyed the boost from the miners' strong January sales, but the warning signs appeared there as well - particularly toward the end of the month. 

Rough MarketPolishedRetail and Consumer Confidence

De Beers Rough Sales Tumble at Second Sight

The optimism at the beginning of the year regarding improved demand for rough diamonds has shifted to uncertainty following the outbreak of the COVID-19 coronavirus; as expected, De Beers' sales at the second sight of the year took a nosedive, ending at a provisional $355 million. That result is 36% off the pace of their first sale of the year ($551 million) and 28% lower than the $496 earned at the second sight of 2019.

Rough Market

De Beers To Introduce Major Changes To Buyer Contracts

At meetings in Botswana coinciding with its second rough diamond 'sight' of 2020, De Beers detailed to clients its plans to scrap the one-size-fits-all supply model and create three different types of contract: manufacturer contracts, dealer contracts and integrated retailer contracts, a company representative explained to us. Each type of contract is said to be designed around the broad needs of the three types of business model to which they apply. The move is designed to help the diamond miner ensure that each buyer gets the stones most suited to its needs and business type.

ManufacturingRough Market

Russian KP Chair Wants To Expedite Diamond Exports from CAR

Russia's Deputy Finance Minister Alexei Moiseev, the 2020 Kimberley Process (KP) Chair, has stated that Russia will work to lift restrictions on the export of diamonds from the Central African Republic (CAR), according to Reuters. A total ban on diamond exports from CAR was imposed in 2013 but partially lifted in 2016, allowing CAR to resume sales of diamonds from five 'green zones' where the government could certify the stones were conflict-free. The partial lifting of the ban, however, has not significantly increased CAR's legal trade in rough diamonds.

Rough MarketCompliance

Rio Tinto's Diamond Division Records 2019 Loss as Revenue Tumbles

Rio Tinto's diamond division recorded a $21 million loss for FT 2019 as its revenues fell 11% to $619 million from $695 million a year earlier, according to the company's Annual Results released on Wednesday. Earnings before interest, tax, depreciation and amortization (EBITDA) tumbled by 50% to $151 million from $301 million in 2018.

Mining and ExplorationRough Market

Lucapa's Second 2020 Sale of Angolan Rough Earns $1,535 Per Carat

Lucapa Diamond Co.'s second sale of diamonds in 2020 from the Lulo alluvial diamond mine in Angola achieved an average price of US$1,535 (A$2,324) per carat. The parcel of 1,223 carats of Lulo diamonds achieved gross sales proceeds of US$1.9 million (A$2.84 million). The sale brings to US$5.3 million (A$7.9m) total sales of Lulo diamonds to date in 2020 at an average price of US$1,906 (A$2,842) per carat.

Rough Market

Gov't of Angola Posts Tender For Independent Valuators of Rough Diamond Production

The Republic of Angola's Ministry of Mineral Resources and Petroleum has announced a public tender for independent rough diamond valuators with the capacity to handle Angola's entire national diamond output, which last year reached 9 million carats and $1.3 billion. The search for a truly independent valuator gives teeth to the country's efforts to ensure a fair market price for their diamonds and to generally bring greater transparency and accountability to the country's new diamond marketing policy, a priority of President Lourenço. 

Rough Market

Koin International To Tender Exceptional 82ct Yellow Diamond in Antwerp

Koin International will hold a rough tender for the Kimberley Ekapa Mine (KEM) production from Kimberley, South Africa, from 27 February to 4 March. The tender includes an exceptional 82ct yellow diamond, recovered in February.

The Kimberley Underground mines have a history of producing large diamonds and fancy yellows, such as the Oppenheimer (253 carats rough). The largest diamond ever recovered at Kimberley Underground was +800 carats and the mine is also the source of the Kimberley Octahedral, at 616 carats, one of the largest uncut diamonds in the world.

Rough Market

Strong Q4 Leads Lucara to Beat 2019 Expectations

Lucara Diamond Co. pulled off a strong performance in 2019 despite a tough market and achieving a lower average price per carat than in the previous five years, largely due to a solid performance in the final quarter and record production through the plant in 2019. The miner, which owns and operates the Karowe mine in Botswana, earned total revenues of $192.5 million (2018: $176.2 million) from the sale of 411,732 carats, or $468 per carat (2018: $502 per carat) during fiscal year 2019, beating their guidance of $170 million to $180 million. 

Mining and ExplorationRough Market

India's Polished Diamond Exports Down 6% in Jan., Synthetic Trade Growing Rapidly

India’s exports of polished diamonds continue to fall short of last year’s levels, declining by 5.7% during the month of January 2020, according to provisional data released by The Gem & Jewellery Export Promotion Council (GJEPC). The value of rough-diamond imports for manufacturing fell again as well, despite a notable increase in volume. Meanwhile, India's synthetic-diamond imports (rough) and exports (polished) continue to grow rapidly.

PolishedManufacturingRough Market

De Beers Rough Diamond Sales Fall 26% in 2019, Long-Term Outlook "Positive"

De Beers Group reported its preliminary 2019 financial results today (Feb.20), confirming the already well-documented declines experienced across the global rough diamond trade in 2019. The average price earned per carat and a decline in sales volumes were the obvious and main culprits, but these were just the visible results of a whole raft of challenges the world's most famous miner faced last year - along with the rest of the industry - starting with the oversupply of polished in the manufacturing and midstream segments.

Rough MarketMining and ExplorationMarket Analysis

Market Weakness, Lower Prices Keep Petra in the Red

Petra Diamonds concluded H1 FY 2020 (the six months to 31 December 2019) with a $10 million net loss as ongoing market weakness and an "adverse product mix" (lower quality diamonds) which weighed on their profit from mining activities. The London-based miner reported a net loss of $10 million for the period, which represents a sizeable improvement on its $57.9 million loss in the first half of 2019.

Mining and ExplorationRough Market

Samir Gems Reports $7.8M in Sales at Antwerp Tender of DRC Rough

The second major tender of rough diamonds from the Democratic Republic of the Congo (DRC) at the Antwerp Diamond Tender Facility, located in the AWDC building, concluded Wednesday 12 February, closing the book on another highly successful sale. As with the first tender, held only two months ago, this one exceeded expectations: organizer Samir Gems sold some 535,000 carats of rough goods for $7.84 million.

Rough Market

Gem Diamonds Ends Down Year on a High Note

Gem Diamonds, the London-based miner that operates the famous Letšeng mine high in the mountains of Lesotho, reported a major uptick in its fortunes in the fourth quarter of 2019 as revenue for the period (Oct. 1 - Dec. 31) increased 41% over the previous quarter on a near-equal rise in the volume of carats sold and the average price per carat. The improved performance was sorely needed, as even with the Q4 increases the miner's 2019 fell by a third in a difficult market. 

Mining and ExplorationRough Market

Lucapa Diamond Co. Banks $5.5 Million from First Sales of 2020

Lucapa Diamond Co. and its partners today announced its first run of mine diamond sales from the Lulo alluvial mine in Angola and the Mothae kimberlite mine in Lesotho generated combined gross proceeds of US$5.5 million (A$8.2 million). 

Rough Market

Alrosa's Rough Diamond Sales Continue To Rise, Earn $390M in Jan.

Russian diamond mining giant Alrosa last month had its largest sale of rough diamonds in well over a year, earning $390.2 million at its January sale and adding another $14.8 million in polished goods for a total of $405 million. The last time the miner sold more rough goods in a single month was back in April of 2018.

Mining and ExplorationRough Market

Alrosa Relocates Hong Kong Auctions To Other Trading Centers

Russian diamond miner Alrosa has decided to relocate its March auctions for rough and polished diamonds from Hong Kong to other trading centers. The move follows the decision of the Hong Kong Trade Development Council (HKTDC) to reschedule the Hong Kong trade shows from March until May in response to the coronavirus epidemic. 

Rough MarketPolished

Angola State Mining Co. Endiama Gearing Up for 2020 IPO

Angola state-owned diamond mining company Endiama plans to float as much as 30% of its shares in an initial public offering (IPO) in 2020, according to Chairman José Manuel Gango Junior from an interview on the sidelines of the Africa Mining Indaba. He said the sale is part of a government plan to increase transparency in the diamond sector and bolster production. “We are preparing Endiama for a public listing and we are currently assessing the company’s value,” Gango Junior told Bloomberg.

Rough MarketFinance and Trade

Another Major Tender of DRC Rough Diamonds Commences in Antwerp

This morning, February 6, some 535,000 carats of rough diamonds from the Democratic Republic of the Congo (DRC) went on tender at the Antwerp Diamond Tender Facility. The tender runs through Februay 12. The leading position of Antwerp as a rough diamond trading center convinced SACIM, a Congolese diamond miner, to hold its second Antwerp tender of DRC rough goods in the past ten weeks.

Rough Market

AWDC Announces African Diamond Conference, May 5-6, in South Africa

The Antwerp World Diamond Centre (AWDC), on the margins of the African Mining Indaba in Cape Town, South Africa, yesterday announced it will be organizing its second African Diamond Conference (ADC) in Durban, South Africa, on May 5 & 6. The program and registration details are available here.

Mining and ExplorationRough Market

Bonas Couzyn Antwerp Opens Tender of Massive Angolan Diamond

Bonas Couzyn tender house in Antwerp will hold a special tender of a 183.54 carat diamond from the Cuango mine in Angola. The stone (pictured) was shipped to Bonas directly from the Sociedade Mineira do Cuango in Angola.

Rough Market

Russian Bank Issues First Loan to Foreign Alrosa Client for Rough Purchases

In what could turn out to be a pivotal development in rough diamond financing for Alrosa's long-term clients, Antwerp-based international company Dali Diamond has signed a loan agreement with Eximbank of Russia (part of the Russian Export Center Group) for the financing of rough diamond purchases from Alrosa. Financing for the purchase of rough diamonds has been a major concern in recent years as several banks have reduced their exposure to the diamond market or withdrawn from it altogether.

Rough Market

De Beers January Sales Rebound to $545M as Demand Strengthens

As anticipated, De Beers first rough diamond sight of 2020 bounced back to historical levels, earning $545 million (provisional result) at their January sale. The January sale is typically one of the largest of the year as the industry replenishes their stocks following the holiday season and the 2020 iteration did not disappoint. 

Rough Market

500,000 Carats of DRC Rough Diamonds to be Tendered in Antwerp

Following the tremendous success of the first ever direct tender in Antwerp of rough diamonds from the Democratic Republic of the Congo (DRC), a second tender of 500,000 carats will be held in the coming weeks. Featuring rough stones from SACIM SARL (Anhui-Congo Mining Investment Company) mined in the Province of Kasaï Oriental, with 10-15% of gem-quality, the tender is being organized by Samir Gems and hosted by the Antwerp World Diamond Centre (AWDC) in its Antwerp Diamond Tender Facility. The tender takes place from 6 - 12 February 2020.

Rough Market

Regional Gov't Has Backup Plan for Alrosa: up to $1B in Sales to Gokhran

The government of Russia’s Yakutia region, a major shareholder in diamond producer Alrosa, has proposed that precious metals and gems repository Gokhran buy $0.5-$1 billion of the firm’s rough diamonds in the event of diminished demand, Interfax news agency reported. Based on reporting from Reuters, the proposal was made to President Vladimir Putin and Russia’s finance ministry, which is responsible for Gokhran within the government, Interfax quoted Aysen Nikolaev, the head of Yakutia region, as saying.

Rough Market

De Beers Might Be Reducing Number of Sightholders

De Beers might "significantly reduce" its number of sightholders and could be introducing changes to the way it allocates and sells its rough diamonds, according to Thomas Biesheuvel of Bloomberg. The miner's current six-year contract with buyers expires at the end of 2020.

Rough Market

Lucara, Louis Vuitton and Antwerp Manufacturer Join Forces Polishing 1758ct Rough

Lucara, the Canadian mining company that owns the Karowé mine in Botswana announced they will be collaborating with luxury brand Louis Vuitton and an Antwerp-based high-end polishing company (HB) to polish the largest rough diamond ever found in Botswana, the 1758ct Sewelô diamond recovered in April last year. In the arrangement, the stone - qualified as near-gem, variable quality, will be polished into a collection of diamonds, and apart from an up front non-material payment, Lucara will retain a 50% interest in the polished results.

Rough MarketPolishedMarketing

Geopolitical Instability Impacts Antwerp Diamond Industry in 2019

2019 was a challenging year for the global diamond trade. The entire industry, from miners to manufacturers and from diamond traders to jewelry retailers saw their trade figures and profits decline during the past year. Antwerp, as the leading diamond trading hub, was caught in the middle of the industry-wide storm. “Geopolitical instability led to economic turmoil, which negatively impacted consumer confidence,” says Ari Epstein, CEO of the Antwerp World Diamond Centre.

Market AnalysisRough MarketPolished

I. Hennig Launches Innovative New Virtual Broker Platform

International rough diamond brokerage and marketing service provider I. Hennig today announced the launch of its innovative state-of-the-art online rough trading platform: “Virtual Broker”. Virtual Broker (VB) provides a secure environment for rough diamond trading where sellers and buyers negotiate online directly between themselves on a wide range of goods.

Rough MarketTechnology

London Eases Diamond Traders' Concerns Over a Hard Brexit

Diamond traders established in the United Kingdom should not be too greatly affected by the latest, if not last, round of negotiations ahead of the country's exit from the European Union (EU). The UK has managed to secure the status of participating member of the Kimberley Process (KP) diamond certification scheme. The UK had already held the status as a member of the European Union.

Rough Market

Alrosa's Rough Sales Bounce Back in December, End Year Down 26%

Russian diamond miner Alrosa ended a challenging 2019 on a high note, with December rough diamond sales increasing 7.4% year-over-year to $352.1 million, good for their second largest monthly haul of 2019. The company also sold $11.6 million in polished diamonds last month, an increase of 132% over December 2018 and also representing their highest monthly earnings for polished diamonds last year. These end-of-year improvements, however, were not enough to correct the significant downturn in sales that typified 2019.

Rough MarketPolished

The Top 10 Issues that Mattered to You in 2019

As we welcome a new year and extend our hopes that you, our readers, will enjoy good health and good fortune in 2020, we take a moment to look back at the issues and articles of the past year that most sparked your interest.

Market AnalysisRough MarketPoliticsFinance and Trade

Alrosa To Hold 34 Auctions of Large Rough Diamonds in 2020

Russian diamond mining giant Alrosa plans to hold 34 international auctions for special size rough diamonds (weighing over 10.8 carats) in 2020, the comapany recdently announced. They plan to hold seven auctions in the first quarter (Q1), eight in Q2, seven in Q3 and 12 in Q4. The schedule is available here.

Rough Market

Lucara’s Final 2019 Tender Earns $53M, Beating Estimates

Lucara Diamond Corp. has reported that its final diamond tender of 2019, held on December 12, generated sales proceeds of US$52.9 million. Sales of goods from the Karowe Diamond Mine in Botswana were 16% higher than expected, and achieved an average price of US$548 per carat.  They noted improvments to market pricing in all size classes. The December tender bring Lucara's 2019 revenue at $192.5 million, exceeding the 2019 revenue guidance of $170 - $180 million and outpacing their 2018 sales of $176.2 million.

Rough Market

De Beers' Final Rough Sale of 2019 Ends Year on Positive Note

De Beers brought a tumultuous 2019 to a close on a positive note, as provisional rough diamond sales of $425 million at their Cycle 10 sight represents their highest earnings in seven months since the April sight and the fourth straight sight with increasing sales. While it does not quite match the $544 million earned at the final sight of 2018, it does demonstrate that demand for rough is stabilizing - though their buyers did not really have much say in the matter, as the miner had withdrawn the additional flexibility provided to sightholders since July.

Rough Market

Lucapa Earns $6.4M at Latest Diamond Sale, Has Doubled 2018 Revenues

Lucapa Diamond Company earned US$6.4 million (A$9.3 million) at the latest sale of diamonds from the Lulo alluvial mine in Angola and the Mothae kimberlite mine in Lesotho. This sales brings Lucapa's total 2019 sales of Lulo and Mothae diamonds to US$55.0 million (A$79.0 million), more than doubling their entire earnings of US$26.4 million a year ago.

Rough Market

Grib Diamonds Nets $30M from Rough Tender in Antwerp, Including Angolan Stones

Grib Diamonds today (11 December) sold more than $30M and 370K carats though its online Spot Auction in Antwerp. The diamonds included, for the first time, goods purchased from Angola as well as its usual Russian production from its wholly owned mine in Arkhangelsk, Russia.

Rough Market

Alrosa Increases Rough Diamond Sales in November

Russian diamond mining giant Alrosa reported a rise in rough-diamond sales for the second straight month, selling $282.1 million in November, which is a 6% increase over November 2018 ($266.6 million) and an 11% increase over last month ($253.9 million). The miner's polished-diamond sales fell to $5.8 million from $10.4 million last month and $7.4 million in November 2019. Total sales of $287.8 million worth of rough and polished diamonds represent a 5% increase year-over-year.

Rough Market

Antwerp’s Rough Diamond Exports Jump in Nov., Polished Malaise Continues

Antwerp’s rough-diamond trade put a weak October performance in the rear-view mirror in November, as the volume of rough exports in particular rose sharply despite another decline in the average price per carat, according to figures from the Antwerp World Diamond Centre (AWDC). The polished-diamond sector remained more sluggish than usual in what has been a modest month for trade over the past several years.

Rough Market

Rough Diamond Exports from Angola Fall Again in October

Despite the concerted efforts of the Angolan government to bolster its rough diamond trade, the challenging market has led to less postive results this year than hoped for. According to the Ministry of Finance (Minfin), Angola exported 706,900 carats of rough diamonds in October, a decrease of 8.3 percent compared to September, reports Macauhub. Since the beginning of the year, the country has exported 7.12 million carats, which is 11.4% fewer than in the same period last year.

Rough Market

Russian Miner AGD Diamonds Earns $25M via Grib Diamonds in Antwerp

Russian miner AGD Diamonds' most recent rough diamond auction on the electronic sales platform of its trading subsidiary, Grib Diamonds NV, fetched over $25 million. The company noted an increase in demand for diamond goods and a pickup in the diamond market. AGD commented that the prices they achieved represented a cessation of the decline in average prices and that the first signs of market stabilization are now tangible. The company said it expects a full recovery of demand and rough prices in the second half of 2020.

Rough MarketMining and Exploration

India's Polished Diamond Exports, Rough Imports Well Off 2018 Pace

India's exports of cut and polished diamonds in October declined by 15.4% year-on-year to $1.95 billion as compared to $2.30 billion in October 2018, according to the provisional data released by The Gem & Jewellery Export Promotion Council (GJEPC) of India. The $1.95 billion is the same amount exported in September, which represented an 18% decline from the year prior. The volume of polished diamonds exported declined 8% to 2.8 million carats, as the average price per carat for the month fell 22% to $689 per carat. For the fiscal year to date (April - Oct.

PolishedRough Market

Petra Diamonds Sells 20ct Blue for $14.9M, or $741,000 per carat

Petra Diamonds has announced the sale of an exceptional, 20.08-carat blue diamond recovered at the Cullinan Mine in South Africa in September 2019, which fetched US$14.9 million, or approximately $741,000 per carat. The buyer is a leading diamond company that wishes to remain anonymous, the miner said in a press release.

Rough Market

Alrosa Earns $11M at Auction of Large Rough Diamonds in NYC

Alrosa sold 93 rough diamonds with a total weight of 1,560 carats, and earned $11 million in sales revenue at an auction for special size rough diamonds (weighing over 10.8 carats) held in New York. At approximately $7,050 per carat, the miner says it is the best result achieved in the last few months. There were 95 participants from the US, Belgium, India, Israel, UAE, Russia and Hong Kong.

Rough Market

Tender of DRC Rough Diamonds Opens in Antwerp

The first ever direct tender in Antwerp of rough diamonds from the Democratic Republic of the Congo (DRC) officially opened today at the Antwerp World Diamond Centre (AWDC), with viewings starting tomorrow, November 14.

Rough Market

De Beers' Rough Diamond Sales Improve in Cycle 9

The price cut De Beers introduced for the November sight (Cycle 9) appears to have generated some movement in the rough diamond market, as the miner sold (provisionally) $390 million at its latest sale. This marks the third straight sight with increasing sales and a 31% jump over the $297 million in sales at the previous sight, though it is still 12% lower than in Cycle 9 a year ago.

Rough Market