Archive

  • Russian diamond miner Alrosa sold $340.6 million worth of rough diamonds and diamond powder in February 2019. While such a result is very low for this time of the year - a 36% decline from last February, when the Alrosa sold $532.8 million - it is nonetheless a 22% improvement over the $278.2 million revenues achieved last month, which gives some hope that the polishing wheels are turning again. For the first two months of the year, Alrosa's rough sales are down 40% from 2018, falling to $618.8 million from $1.032 billion last year. 

  • De Beers sold $490 million worth of rough diamonds in Cycle 2 2019, holding steady at just $10 million less than their January sale but at a lower level than last year. The miner's sales fell 13% compared to the $563 million sold at their second sight last year, and combined sales for the first two sights of the year have fallen by 20% compared to 2018.

  • Trans-Atlantic Gem Sales (TAGS) held their first tender of 2019 this month from 12 - 19 February in Dubai, selling a record $50.1 million worth of rough diamonds, as per a press note from the company. The sale featured a total of 79,213 carats of high-quality stones, included exceptional, special rough diamond collections with large and single stones from Angola, Namibia and South Africa. TAGS said the tender achieved an average price of $633 per carat.

  • The Eurasian Economic Union (EEU) has introduced new national codes for rough (unworked) and cut (worked) synthetic diamonds and other synthetic gemstones based on the Harmonized System (HS) Code, the international nomenclature to classify traded products.

  • A delegation of ministers and miners from the mountain Kingdom of Lesotho visited the Antwerp World Diamond Centre (AWDC) and its Diamond Office today for the final days of the first run-of-mine tender of diamonds from Lucapa's Mothae mine, held at Bonas tender house. About 5,000 carats will be up for grabs in Antwerp and is said to include specials from Mothae, featuring high color whites weighing 78 carats and 38 carats as well as an 89-carat yellow. We will provide additional information from the sale when available.

  • ALROSA, the largest diamond mining company in the world, held international auction for special size rough diamonds (over 10.8 carats) in Dubai.  The overall revenue amounted to $8.3 million. The company sold 121 rough diamonds with total weight of 1,950 carats. Firms from UAE, India, Belgium, Israel, Hong Kong, Russia and the USA participated in the auction, and 31 firms were recognized as winners in different positions.

  • De Beers reported a 4% rise in total revenue for FY 2018, reaching $6.1 billion, but its earnings slid by 13% to $1.25 billion driven by expenditures such as the $87 million acquisition of Peregrine Diamonds and the launch of Lightbox Jewelry. Rough diamond sales rose by 4% to $5.4 billion (2017: $5.2 billion), driven by improved overall consumer demand for diamond jewelry and a 1% increase in the average rough diamond price index.

  • HRD Antwerp, Europe’s leading reference for diamond and gemology education, diamond certification and grading, this summer (June 3-7) is launching a course in Rough Diamond Management and Production Control. The course will introduce the business concepts required to acquire and trade rough diamonds, foremost among which are various techniques for determining the value of rough stones, the key component at the basis of any career in rough diamond trading and management.

  • Angolan president Joao Lourenço came into power about 18 months ago, stating his intention to fully reform the country's diamond industry, and his progress has been undeniable. Starting with untangling the country from the business interests of his predecessor’s family - president Jose Eduardo dos Santos and his daughter Isabel dos Santos - he set out to increase transparency and promote the country ́s image abroad in order to facilitate the exportation of goods and services and attract direct foreign investment. Lucapa Diamond Co.

  • Petra Diamonds, owner of one of the world’s most famous diamond mines - the Cullinan mine in South Africa - could be about a decade away from clearing its multi-million-dollar debts, according to Reuters. As Emma Rumney and Barbara Lewis explain, Petra bought Cullinan in 2008, "aiming to breathe new life into the South African mine renowned for yielding the largest rough gem diamond ever found - 3,106 carats - and being the world’s main source of rare blue diamonds.

  • Russian diamond mining giant Alrosa has today unveiled a 65.7-carat heart-shaped rough diamond unearthed on January 23, 2019 at the Udachnaya kimberlite pipe in Yakutia. Said to be a high-quality stone, experts estimate it is more than 300 million years old ... who ever said love was not eternal?

  • Gem Diamonds recovered a high-quality 13.33 carat, pink colour Type I diamond from the Letšeng mine in Lesotho on 7 February 2019. The prices for diamonds of this color of diamond are typically exceptional. In the first half of 2018, when Gem recovered 10 rough stones larger than 100-carats at its Letšeng mine, the highest price achieved was $62,433 per carat for a 2.26-carat pink diamond.

  • Russia's Alrosa, the world’s largest diamond miner, could not escape the current trend on the rough diamond market at the start of 2019, as its rough diamond sales plunged by 44% to $278 million from $499 million in January 2018. This is in sharp contrast to December sales, however, when rough sales increased by 46% over the previous year. Polished-diamond sales in January were $3.4 million, bringing total sales for the month to $281.5 million.

  • Mountain Province Diamonds will include in its upcoming, February rough diamond sale an exceptional quality, 60.59-carat, fancy vivid yellow rough diamond. The diamond was recovered at the Company’s Gahcho Kué Mine in October 2018. Also included in the sale will be more than 50 other large, high-quality white and fancy-colored rough diamonds. Viewings will take place between February 11 to 21 at the offices of Bonas-Couzyn in Antwerp, Belgium.

  • De Beers' first sight of the year provided no indication that the sluggishness of the market for lower value rough is ready to subside. The January sight is typically one of the largest of the year, as manufacturers restock after the Christmas season in preparation for the holidays ahead, including Chinese New Year and Valentine's Day. De Beers rough sales in Cycle 1, however, were much lower than the two previous starts to the year.

  • Russian diamond mining giant Alrosa expanded the long-term customer list for the three-year contract period 2018-2020, and has added two Belgian companies to its ALROSA ALLIANCE. Participants in the ALLIANCE obtain the right to use the logo that confirms not only regular rough diamond supplies from ALROSA, but also the reputation of a client as a reliable and trusted participant of the world diamond complex. Becoming an ALROSA ALLIANCE participant makes the company a candidate to potentially sign a long-term agreement.

  • The De Beers Group has announced its production results for 2018 and Q4 2018, reporting that annual production increased by nearly 7% to 35.3 million carats, while a 4% decline in carats sold was offset by a higher average price per carat, leading revenues to rise 2% to $5.4 billion. They said the rise is production was due to a planned increase at the Orapa mine, although the group's output was in the lower half of the production guidance range of 35 to 36 million carats.

  • The value of India's polished-diamond exports grew by approximately 6% to over $24 billion in 2018 despite a 10% downturn in the volume of goods exported, according to figures from the Gem & Jewellery Export Promotion Council (GJEPC). The rise in value is attributable to a 17% higher average price per carat, calculated at $775, for the 31.5 million carats exported, reflecting an industry-wide trend in 2018 of softening trade in smaller, lower-quality goods and more robust demand for larger goods.

  • The Antwerp diamond trade was nothing if not balanced in 2018. The industry traded a total of $46 billion in 2018, representing an increase of less than a percentage point over 2017 ($45.9 billion). The value of value of the goods flowing in and out of Antwerp was once again divided equally between rough and polished goods, with the polished trade good for $22.9 billion and the rough trade representing $23.1 billion.

  • International Mining and Dredging Holdings (IMDH) will be holding its first tender since 2016 of Namibian marine-mined rough diamonds at Bonas-Couzyn’s Antwerp offices. Bonas said the first sale from IMDH will bring to market approximately 47,000cts of original marine goods of gem quality, mined by the specialist mining vessel, the Ya Toivo. “This exciting source will be holding regular ROM production tenders with Bonas-Couzyn in Antwerp throughout 2019,” the tender house said.

  • Rio Tinto's diamond production for the year fell by 15% to 18.4 million carats from 21.6 million carats in 2017, as production at the Argyle mine in 2018 fell by 18% compared to 2017, when production was enhanced by the processing of higher grade alluvial tailings. The fourth quarter in particular put a drag on the annual figures, as the 3.2 million carats unearthed represented a 48% decline from Q4 2017 - albeit against a high base of 7.21 million carats - and a 16% decline from last quarter.

  • Diamond production in Angola remained flat in 2018 at 9.43 million carats, but revenue from diamond sales increased by 9% to $1.2 billion from $1.1 billion due to a 27% rise in the average price per carat, the chairman of the state mining company Endiama, Ganga Júnior, announced this week. Diamond production fell slightly from 9.44 to 9.43 million carats, but the average price per carat of the 8.26 million carats sold increased to $149 per carat from $117 per carat.

  • Stellar Diamonds and parent company Newfield Resources are on the verge of commencing development of their Tongo Diamond Project in Sierra Leone. When completed, it will be the second largest diamond operation in the country. The Diamond Loupe spoke with CEO of Stellar Diamonds and Executive Director at Newfield Resources Karl Smithson, first in Antwerp and again when he was on site in Tongo (“in the middle of the bush”) about the project, how it is progressing and what to expect going forward.

  • Canadian miner Mountain Province Diamonds reported a 17% jump in carat production for the full year 2018, with sales rising 30% to $US240 million. The company's 49% share of production from the Gahcho Kué mine it shares with De Beers totalled 3.4 million carats, (full GK production 6.9 million carats) compared to the 2.9 million carats (5.9m) recovered last year, following from a 25% rise in total tonnes mined (ore & waste) and a 15% rise in total tonnes treated.

  • Russia’s Alrosa, the world's largest diamond producer, has announced its intentions to resume its diamond mining operations in Zimbabwe, which it had put on hold since 2016.

  • Angola has extended across the country what it calls “Operation Transparency”, which aims to fight illegal immigration, reduce diamond smuggling and reform the world’s fifth-largest diamond industry, Angolan authorities said in a statement. It is part of President João Lourenço’s drive to diversify the economy and reduce the country’s dependency on oil.

  • Alrosa finished the year with a 6% increase in rough and polished diamond sales after a strong December in which the Russian miner's rough sales rose 44% year-over-year to $324 million from $228 million, which was also good for a 23% rise over November. The company sold $5 million in polished diamonds in December.

  • State-owned Zimbabwe Consolidated Diamond Company (ZCDC) plans to produce 4.1 million carats of the commodity this year, representing a 46% increase from the 2.8 million carats produced last year. 

  • Lucara Diamond Corp. has completed its highly anticipated inaugural diamond sale through Clara Diamond Solutions, its digital sales platform for selling rough diamonds individually, based on polished characteristics and demand.

  • Russian mining company AGD Diamonds has reported that from January to November of 2018, AGD Diamonds earned approximately $280 million (18.9 billion rubles) from diamond sales – up 35% year-on-year. According to Rough & Polished, the miner in 2018 the company extracted 22,150,000 cubic meters of rock mass from the Grib diamond mine, recovering 3,433,000 tons of ore. 

  • "For the first time since 2011, 2018 saw the Israeli diamond trade stabilize," writes The Israeli Diamond Industry, bringing to an end what the President of the Israel Diamond Exchange (IDE), Yoram Dvash calls “a few years of crisis." According to the Diamonds, Gemstones and Jewelry Administration in the Ministry of Economy, exports of polished diamonds fell by only 2.5% percent to approximately $4.5 billion, representing an improvement over sharper declines in recent years, while polished imports reached $3.0 billion, an improvement of 4.1% over last year.

  • Laurelton Diamonds, a wholly owned subsidiary of Tiffany & Co. and supplier to the famous jeweler, will be holding tenders of rough as well as polished goods in Antwerp during the month of January. The tender of rough and sawn goods gets underway on Tuesday, January 8 at the Antwerp Diamond Tender Facility located in the Antwerp World Diamond Centre building, Belgium, and will continue until Thursday, January 17. The tender will include a selection of white and Cape Rough parcels in sizes from +5cts to -7 in regular and high quality assortments in Cts and Grs.

  • Angolan mining company Sociedade Mineira da Catoca (Catoca) is planning to invest $330 million over the next three years in large sample collection works in the area of the future Luaxe mine, according to the company’s Director General Benedito Paulo. The work is due to begin in the first half of next year, when the company will collect data on the quality of diamonds as well as initiate price discovery and evaluation, after which the economic and financial feasibility study will be carried out as well as the exploration project, according to a report by Macauweb. Paulo said that t

  • The downturn in India's diamond trade continued unimpeded in November, as its two critical indicators - polished-diamond exports and rough-diamond imports - tumbled once again. According to figures from the Gem & Jewellery Export Promotion Council (GJEPC), polished diamond exports fell to $1.56 billion, a decline of 12% as compared to the $1.78 bn exported in November 2017, and a 32% decline from $2.3 billion exported last month.

  • De Beers reversed a four-month trend of declining rough diamond sales at the final sight of 2018, as the miner sold $540 million of rough goods in its December cycle. The company attributed the increase in sales to the restarting of Indian manufacturing units after the Diwali holiday, when factories close for several weeks, and the spike in demand precipitated by the crucial holiday season and in anticipation of the need for replenished stocks in January.

  • Rio Tinto and Dominion Diamond Mines have announced the recovery of the largest known gem-quality diamond ever found in North America. The 552-carat yellow diamond was unearthed in October at the Diavik Diamond Mine, approximately 135 miles south of the Arctic Circle in Canada’s Northwest Territories. Measuring around 3cm by 5.5cm, it is said to be about the size of a chicken egg. "A diamond of this size is completely unexpected for this part of the world and marks a true milestone for diamond mining in North America and Canadamark diamonds overall," the companies said in a statement.

  • Mining company Lucapa Diamonds and its partners on the Lulo project in Angola have announced that their diamonds will feature in an historic inaugural international tender in the country. The tender is part of the new Angolan diamond marketing laws recently been approved by President Joao Lourenco and the Council of Ministers. According to Lucapa, the policy shifts in Angola allow management to plan for the sale of such high-value stones, something the company was not able to do before because previous rules forced producers to sell their gems to middlemen below international prices.

  • Russia's Alrosa, the world leader in diamond production, sold $267 million of rough goods in November 2018, which represents a 14% increase compared to its October revenue derived from a much higher volume of sales, but is not ready to claim demand for small rough has rebounded. Sales of smaller and less expensive rough goods have tumbled throughout the industry in recent months, as a lack of financing and a devalued currency have slowed purchases of goods destined for manufacturing in India. 

  • Russian diamond miner AGD Diamonds held its final rough diamond auction of the year on the e-trading platform of Grib Diamonds, its selling arm in Antwerp, earning over $25 million. The auction was attended by the company’s regular customers from India, Israel and Belgium, reports Rough & Polished. At the same time, AGD Diamonds was also able to attract new buyers from China due to perfect preparation of goods to be auctioned and smart organization of viewings.

  • Russian diamond giant Alrosa held two auctions of special rough stones (10.8 carats and up) during the month of November, first in Vladivostok and then in Dubai, earning an average of approximately $4,900 from the sale of 4,030 carats, yielding a total of $19.8 million. In Vladivostok, the miner sold 119 gem-quality rough diamonds with a total weight of 1,890 carats for $10.3 million, representing an average price per carat of $5,540. This was the fourth and final auction in Vladivostok, their  Far Eastern platform, for 2018. They started holding auctions there in late 2016.