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

Rough Market
20/11/2019 14:50

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.

The miner remarked that "the innovative and environmentally-friendly mining and processing technologies used by AGD Diamonds allow it to extract high-quality diamonds undamaged. The company is keen to ensure that customers buying its goods are confident in the true origin of diamonds mined by methods that have minimal impact on the environment."

The miner's marketing arm in Antwerp, Grib Diamonds, today announced the commencement of viewings for approximately 10,000 carats of Angolan alluvial production taking place in Antwerp from December 3 - 10. The production on offer will feature 5-10ct, 2-4ct, 4-6GR and melees in parcels of Z Gem, MB Gem, Clivage and below. The goods on offer will also include an array of 'specials' - stones weighing 10.8 carats and up. The viewing will coincide with the regular Grib production viewing and both sets of goods will be sold by via Spot Auction on 11 December at 10:00 (CET).’’