Mining company Lucapa reported a record full-year 2021 total revenue of US$98 million or an average of US$1,564/carat. The miner also announced record operational performances from both Lulo (SML), the company’s 40% held alluvial diamond mining operation in Angola, and Mothae in Lesotho, the latter sold via Antwerp. Both operations processed record volumes, recovered and sold record carats, and made some exceptional diamond recoveries. In addition, Lulo’s exploration sampling includes the discovery of 13 diamonds from the Canguige catchment area, including eight Type IIa diamonds.
According to Richard Duffy, CEO of mining company Petra Diamonds, the long-predicted supply squeeze is being reflected over all diamond categories. This would mark a structural change in the diamond market, with increasing prices creating a robust and supportive market.
Duffy points out the current strong demand pull into an inventory pipeline where inventories are largely depleted. With a very low ability of suppliers to provide inventory, this will result in higher demand than supply and thus increase prices over the entire value chain.
De Beers, part of Anglo American, says industry recovery from the COVID impact is reflected on the company’s 2021 results. Total revenue of the company increased significantly with 66% to $5.6 billion in 2021, with rough diamond sales rising to $4.9 billion compared to $2.8 billion in 2020. Rough diamond sales were driven by positive sentiment and strong demand for diamond jewelry in key consumer markets like the US and Mainland China. Both diamond jewelry markets posted positive growth, not only compared to 2020 but also to the pre-pandemic year 2019.
Russian miner ALROSA announced its preliminary rough and polished sales results for January totaled $325 million. Rough diamond sales equaled $315 million and polished sales $10 million.
Petra Diamonds’ H1 FY 2022 figures (July – December 2021) show the revenue of the diamond mining company went up 49% to $264.7 million compared to the same period last year. This strong result was particularly driven by the sale of Exceptional Stones totaling $77.9 million, but also supported by the strong diamond market with rough prices going up.
Exceptional Stones sales results:
Petra Diamonds announced the results of Tender cycle 3 of FY 2022. The company sold 885,136 carats for a total of US$ 128.3 million. The tender cycle included a 295.8 carat white stone from the Cullinan mine, which was sold for US$ 13.9 million, and the first parcel sold on behalf of Williamson Diamonds Limited since they restarted operations.
Russian miner ALROSA reports its preliminary rough and polished sales results for November totaled $334 million, $310 million of rough sales and $24 million of polished sales. This marks a total of $3,915 million for the first eleven months of 2021.
The Antwerp World Diamond (AWDC) and ALROSA renewed their cooperation agreement to further expand and strengthen their relationship over the course of the next years.
Lucapa, Endiama and Rosas & Petalas announced the sale of 6 exceptional Lulo diamonds, weighing 336 carats, for a total sales price of US$12.8 million, representing an average price of US$38,006/carat.
The four large, top-quality white diamonds and two fancy pink diamonds were recovered from the Lulo alluvial mine in Angola and sold in Luanda via international tender by Sodiam E.P, the Angolan State Diamond Marketing Company.
According to figures released by the Antwerp World Diamond Centre, the polished diamond business in Antwerp is doing well. Q3 2021 figures already showed the rough business in Antwerp was outperforming pre-pandemic levels of 2019 and now the October figures indicate the polished trade is on track as well.
Petra Diamonds Limited announced the first tender of rough diamonds from the Williamson mine in Tanzania, post the restart of operations, will take place in Antwerp from Friday 19 to Friday 26 November 2021.
A parcel of ca. 26,000 carats is available for sale and includes a 32.32 carat pink stone of exceptional colour and clarity.
Appointments to participate in the tender can be made by contacting Greg Stephenson, Group Head of Sales and Marketing, +27 836 379 849, email@example.com.
First Element announces it will cooperate with GIA Antwerp, submitting rough diamonds to the GIA Diamond Origin Program, a traceability program to scientifically match a polished natural diamond to its original rough stone, confirming the country of origin information. First Element will offer successful buyers at their tenders to have the rough stones included in the program. First Element “will ensure the implementation process of the diamonds into the GIA Diamond Origin Program will run very smoothly, thus optimizing the experience for the client.”
Choron Group announced a large tender of rough diamonds sourced from Angola will be hosted exclusively in Antwerp, Belgium.
The tender will be organized together with Bonas Couzyn, who will be hosting the event from Monday 15th November 2021 till Thursday 25th November 2021.
The tender has close to 48,000 carats with an estimated value of USD 45,000,000 including over 60 single stones.
From 8 – 12 November, the 2021 Kimberley Process (KP) Plenary takes place as a hybrid event, combining in-person meetings in Moscow with videoconferences by delegates from around the world. During the opening session, WDC President Edward Asscher reasserted the need for KP members to agree to expand the conflict diamond definition in order to support long-term consumer confidence. Mr.
First Element Diamond Services announced strong October tender results. Both tenders, the first one in Antwerp and the second one in Johannesburg, showed high demand and strong interest with over 198 companies with 322 buyers attending the viewings in Antwerp. Over 700 parcels were sold for a total amount of around $30 million. Parcel highlights of the tender included a 16-carat stone sold for over $110,000 per carat.
Lucara Diamond Corp. released its Q3 2021 figures, demonstrating a strong performance in the third quarter of 2021, with strong financial and operational performance. The total revenue of $72.7 million, including diamonds sold through regular tenders, the Clara platform and the HB Antwerp agreement, marks a 57% increase over the previous quarter and results in an average price per carat sold of $619.2.
Gem Diamonds, leading producer of high-value stones, announced they recovered 23,435 carats during Q3 2021 (July-September 2021), resulting in 82,266 266 carats recovered for the year to date, an increase of 14% compared to 2020. The generated revenue in Q3 2021 amounted to US$ 47.3 million, achieving an average price of US$ 1,589 per carat.
Petra Diamonds’ Q1 FY 2022 figures (July-September 2021) show the revenue of the diamond mining company went up 48% to US$114.9 million compared to the same period last year (Q1 FY2021: US$77.7 million). This strong result was driven by proceeds from the Exceptional stones sale during this quarter totaling US$50.2 million. In addition, diamond prices on a like-for-like basis went up ca. 3% compared to Q4 FY 2021.
Production during Q1 FY 2022 equaled 861,991 carats, increasing 8% compared to Q4 FY 2021 when production equaled 794,952 carats.
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.