According to figures released by the Antwerp World Diamond Centre, the rough diamond business in Antwerp is outperforming pre-pandemic levels of 2019 and it seems the polished business is on its way to recovery.
From January to September 2021, 69.5 million carat rough diamonds worth 7.8 billion USD were imported in Antwerp, a 31% rise in value compared to 2019 pre-pandemic figures. On the export side, AWDC’s figures show a 21% rise compared to 2019 with 79.1 million carat imported rough diamonds worth 8.2 billion USD.
Grib Diamonds reported another excellent sale in Antwerp. The company sold about 550 carats with a revenue of approximately 45 million US dollars.
“Overall prices for Grib rose 5-7%, with particular strength seen in larger yellow diamonds and small goods below 3 gr. +2 carat gem white goods were notable for the decreases in the price of high single digits to low double digits”, according to Grib Diamonds.
Grib’s next auction is planned for mid-October.
In its financial results update, released by De Beers, the company states revenue compared y-o-y more than doubled to US$2.9bn, from US$1.2bn at the height of the pandemic year 2020, EBITDA rose from a meager US$2m to US$610m, for a total of 19.2m cts (up from 8.5m cts in H1 2020.) . According to comments to JCK, the company attributes the positive results to remarkably strong recovery in the USA, outperforming China's rebound. De Beers average price per carat rose 13%, from US$119/ct (2020) to US$135/ct.
Petra Diamonds Limited today announced that it has recovered a 342.92 carat Type IIa white diamond of exceptional quality in terms of both its colour and clarity at the Cullinan mine in South Africa. The diamond is likely to be sold via the Company’s upcoming tender during September 2021. The news comes just days after Petra Diamonds released its latest market update, indicating revenue for FY 2021 jumped 38% to US$406.9m, driven by the sales of exceptional stones such as the 39.34ct rare blue diamond that fetched over US$40m just weeks ago.
Diamond imports in China have registered a hefty bounce in the first half of the year, after the gloomy market situation in the first half of 2020, followed by the recovery period in the second half. The sudden increase in trading indicates China’s diamond market is walking out of the haze of the pandemic and returning to a growth track. According to the Shanghai Diamond Exchange (SDE), From January thru June, the diamond transactions in SDE reached US$3.821 billion, an 86.39% increase over the same period in 2019.
Figures released by the Antwerp World Diamond Centre (AWDC) on the trade in Antwerp in the first six months of the year demonstrate the city is back on track of the pre-pandemic upturn seen in the first few months of 2020, outperforming 2019 figures on rough trade with double digit growth.
Operations have resumed at Alrosa's Zarnitsa open-pit mine, which the Russian miner had suspended since May 2020 amid the challenging market environment caused by the COVID-19 pandemic. In March 2021, when the demand for rough diamonds had stabilized, ALROSA decided to recommence mining at the deposit from 1 July.
Lucapa diamond company announced a strong first half of 2021 in its Q2 results. Both Lulo (Angola) and Mothae (Lesotho) processed record Q2 volumes and record half-year revenues.
Lulo continued exceptional large stone recoveries, including three +100 carat founds, and its single largest sale ever of A$28.3 million, representing an average price of US$34,548/carat, led to record revenues for the first half-year of 2021. Mothae also noted exceptional large stone recoveries and regular sales also led to record revenues for the first half of 2021.
In May and June, ALROSA held auctions in Antwerp, Dubai and Ramat Gan, selling over 400 lots weighing almost 6,600 carats. The total revenue equaled US$32.4 million.
Under Russian law, ALROSA sells special-size diamonds at international auctions only. These auctions allowed clients to purchase goods they need despite international travel restrictions.
Lucapa, Endiama and Sodiam announced the sale of seven exceptional stones, weighing 620 carats, for a total sales price of $21,4 million, representing an average price of $34,548/carat. The large, top-quality and fancy colored diamonds, recovered at Lulo this year, were sold via tender organized by Sodiam in Luanda.
On Monday 21 June, Grib Diamonds sold over $40 million rough diamonds of Russian origin through its online, ascending clock auction software in Antwerp.
According to Grib Diamonds, all lots of 520k carats were sold and prices hit record levels in every category. Especially the smaller goods marked strong price increases.
Grib’s next sale of Russian and Angolan goods is scheduled to start on 12 July.
Namakwa Diamonds & Storm Mountain Diamonds announce the discovery and upcoming sale of ‘The Pink Palesa’.
The 21,86 ct natural pink diamond will be sold in Antwerp by Bonas Group. The stone was discovered on the 18th of May at the KAO mine in Lesotho. The Palesa, derived from the local Sesotho word for ‘flower’, will travel to Antwerp to be offered for sale during KAO’s next sale.
May sales of Russian miner ALROSA net 365 million USD, including proceeds from rough diamond sales of $346 million and polished diamond sales of $19 million, resulting in a total of $1,926 million diamond sales during the first five months of 2021.
Lucara Diamonds announced the recovery of a 470 carat top light brown clivage diamond from its Karowe Mine in Botswana. This recovery headlines a series of top-quality gem and clivage quality diamond recoveries during a recent production run, including 5 other diamonds of 265ct, 183ct, 161ct, 116ct and 106ct, and 13 diamonds between 50 and 100 carats.
In April this year, Petra Diamonds announced the recovery of a 39.34 ct. Type IIb blue diamond of exceptional quality in terms of both color and clarity at the Cullinan mine in South Africa. The stone will be sold via a special tender with viewings starting in Antwerp from 14 – 18 June 2021, followed by Dubai from 22 – 23 June, Hong Kong from 29 – 30 June and New York from 7 – 9 July 2021.
48 hours after announcing their intention to purchase the Merlin Mine, Lucapa hosted an invite-only event showcasing two of the largest, most expensive, and rare diamonds ever seen in Australia. The diamonds were a 15-carat heart-shaped pink gem and 213-carat top-color white gem.
The 15-carat pink gem was polished from a 46-carat diamond recovered from the Lulo mine in Angola. Lucapa recovered the 213-carat rough white diamond from the Mothae mine in Lesotho. Recent auction sales of similar diamonds place the combined value of the stones at more than US$10 million.
In their latest update, Australia-based miner Lucapa Diamond Company has struck a deal to buy the Northern Territory's Merlin diamond mine for US$17.8 million, which they intend to fund with private and public sales of its shares.
The Angolan state National Diamond Trading Company SODIAM announced its 3rd rough diamond tender in Luanda, Angola in June 2021. The sale will include a selection of exceptional Single Stones from the Catoca, Luele, Lulo and Uari mine, as well as an assorted run-of-mine cut across all sizes of (the highly expected) Luele Kimberlite production. The total value of tendered goods is an estimated 27 – 30 million USD.
Viewings will take place from 9 to 23 June 2021 at the SODIAM viewings facility in Luanda. Bid submission ends on 24 June 2021, 11:00 Luanda time.
Lucapa announced it had recovered another large stone, 138-carat diamond, from Mining Block 46 (MB46) in the Lulo alluvial mine in Angola. The diamond is the seventh +100 carat diamond recovered in 2021 so far and the 24th +100 carat stone recovered at Lulo since exploration and mining operations began.
The global diamond market is under restraint as the supply of polished goods is delayed due to the Covid-19 surge in India. Trade has shifted to leading centers like Antwerp, where dealers are busy filling orders, predominantly through online and remote selling.
Overall the rough market in Antwerp appears to be stable as the center will host ten tenders this month. Year to date, Antwerp has hosted nearly 40 tenders. There is consistent demand for 1 to 3-carat polished diamonds, ranging from D to J color and IF to SI clarity.
Russian miner ALROSA records a strong performance with total sales in April amounting to US$401 million, which includes proceeds from rough diamond sales of US$383 million, and polished diamond sales of US$18 million. For the first four months of 2021, total rough and polished diamond sales accounted for US$1,561 million, of which US$1,509 million for rough diamond sales and US$51 million for polished.
First Element Diamond Services announced its cooperation with the Del Gatto Diamond Finance Fund (DDFF), offering their clients pre tender financing for their diamond production. This includes not only the full run of mine production but also any special stones that may be recovered.
Thanks to this cooperation, diamond producers and buyers will be able to receive funds before tender sales, which marks a first.
In April, ALROSA, the Russian diamond mining giant, completed an online auction for special-sized rough where nearly 95% of the lots sold. The auction, which took place without physical viewings, used digital twin technology so clients could analyze goods remotely and trace polished diamonds back to their mine.
The miner sold 142 lots, weighing approximately 2,040 carats, for US$8.8 million. The auction had 238 registered clients, of which 27 placed winning bids and were from Belgium, Israel, India, UAE, Russia, and the USA.
During its latest ascending clock Specials Auction on the 10th May in Antwerp, Grib Diamonds sold approximately 6 thousand carats of Run of Mine +10.8 carat stones.
According to Grib, three stones of a combined weight of over 400 carats sold for a total of nearly $8 million, making one of the three (186 carats) the most expensive stone ever sold from Grib Diamonds ($3.7M).
Total revenues of the auction exceeded $26 million.
Gem Diamonds announced the recovery of a white, Type II, 370-carat diamond from the Letšeng mine located in Lesotho. Letšeng is known for producing large, exceptional white diamonds, making it the highest dollar per carat kimberlite diamond mine in the world. This announcement comes a week after the recovery of a 254 carat Type II, white diamond from the same mine.
Russian miner ALROSA held auctions for special-sized rough diamonds, those exceeding 10.8 carats, at its main trading offices in April to meet their clients’ demands. In total the miner sold 608 diamonds with a total weight exceeding 9,120 carats. Overall revenue amounted to US$42.3million, Of which US$10.3 million In Antwerp.
They were able to host viewings in Antwerp, Dubai, Moscow, and Ramat Gan, with buyers coming from those hubs as well as India and China.
Australian miner Lucapa and the Govt of the Kingdom of Lesotho have announced the third sale of 2021 of Mothae rough achieved US$1.5m or US$420/ct. All of Mothae’s diamonds are brough to Antwerp where they are prepared for sale and sold in Antwerp. The parcels that form part of Lucapa’s and the Govt of Lesotho’s partnership deal with Safdico are then studied and cut and polished in the city by a preeminent cutting facility.
Gem Diamonds announced the recovery of a 254 carat Type II, white diamond, from the Letšeng mine located in Lesotho. Letšeng is known for its production of large, exceptional white diamonds, making it the highest dollar per carat kimberlite diamond mine in the world.
In their latest auction in Antwerp, Grib Diamonds sold over 580,000ct of rough diamonds for approximately US$40m. According to Grib demand continued to be strong for larger better quality rough, especially for 5-10ct, 2-4ct, 4-6GR, and even goods down to +11 showed robust prices. Results for smaller goods were weaker and saw decreases except for the -7+5.
Overall their production prices saw a low single-digit increase.
The next regular sale will be of new Angolan production containing rough from +10.8CT down to -7+5 with viewing starting in Antwerp from the 21st May.
During the height of the pandemic, diamond producers faced stockpile build-ups when the world came to a standstill, stoking fears that gems amassed by miners could hurt the sector for years to come. In the ensuing months' excessive demand from manufacturers, traders, and jewelers have all but wiped out the stash. All this as demand for luxury sales, including diamond jewelry, jumped as consumers were unable to travel. Remarkably producers such as De Beers and Alrosa have since raised their prices for rough.
Petra Diamonds’ Q3 FY 2021 figures (January – March 2021) are fostering cautious optimism at the diamond mining group, after some difficult times. Q3 revenues increased by 16% to 106 million USD in comparison with Q3 FY 2020. This increase was amongst others driven by improved pricing and the sale of a 299.3 carat exceptional diamond in Antwerp in February for 12.2 million USD.
Lucapa’s quarterly activity report for Q1 shows the company had a strong first three months in 2021. Both operating mines (Lulo and Mothae) noted record performances and the continuing recovery of the entire diamond industry provided a robust pricing environment for rough and polished diamonds.
Russian miner Alrosa records a strong performance, with total sales of rough and polished diamonds in March amounting to US$357 million, including proceeds from rough diamond sales of US$345 million and polished diamond sales of US$12 million.
Lucapa has announced it has recovered another large stone, 144 carat Type IIa D-colour diamond, from Mining Block 08 (MB08). The diamond is the sixth +100 carat diamond recovered in 2021 so far and the 23rd +100 carat stone recovered at Lulo since exploration and mining operations began.
Russian miner Alrosa records a strong performance, with total sales of rough and polished diamonds amounting to over US$800m in January and February 2021. Rough sales totaled US$782m, compared to US$732.5m in 2020, while polished sales rose from US$18.9m in 2020 to US$21m this year (2021). “The recovery in demand for diamond jewelry in key markets well continued in early 2021 thus providing a good support for rough diamonds sales. We believe the current supply and demand balance is comfortable for both miners and buyers of rough diamonds,” said Evgeny Agureev, Deputy CEO of ALROSA.
Alrosa, the Russian diamond mining giant reports that despite a strong Q4 2020, with especially strong sales volumes of smaller diamonds, total revenue for the year fell 7% to US$3bn, output fell 22% to 30m cts and net profit dropped 49% to US$440m, a direct impact from lower sales, as the miner upheld maximum flexibility throughout the pandemic, to avoid stockpiling, as well as a weaker rouble.
To enhance the use of data and ensure customers create value from the rough they buy, De Beers wants to introduce a tracking program for the diamonds it supplies to sightholders. In its new supply contract the company will ask manufacturers to share the outcome of the polished yield, reports Rapaport News. This would allow the miner to verify that the rough sold to manufacturers had been polished by them, rather than sold to a third party. Additionally, it would enable source verification and market intelligence.
While most of the world went into lockdown in the spring of 2020, Dubai and Antwerp reopened for business in the summer. Both centers held viewings for goods as clients were unable to travel to remote locations such as - in the case of De Beers clients - Botswana.
The Namibian reports that Namdia's CEO and former Diamond Commissioner, Kennedy Hamutenya is facing a disciplinary hearing after investigations into irregularities at Namdia, which is mandated to sell a portion of Namibia mined diamonds (roughly US$150m) as agreed in the 10-year agreement between De Beers and the Namibian Government. According to one Board member, the investigation into the irregularities let to recommendations, one of which is "charging the CEO for a string of violations".