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.
The government of South Korea on December 27, 2019 agreed to eliminate its 5% import tax on loose polished diamonds, effectively opening up the South Korean market to new sources of polished diamonds. Yesterday, the Ministry of Economy and Finance (MOEF) confirmed that Diamond has been designated as a specific good that will be exempted from customs duties pending completion of the final legislative approvals. The abolishment of the import tax is expected to go into effect on April 1.
The anticipated increase in rough-diamond trading activity as the calendar flipped to 2020 lived up to expectations in Antwerp, as the volume of rough imports to Antwerp during the month of January surged 43% compared to the first month of 2019. The 8.1 million carats imported was the most since December 2018 and outpaced January 2019 imports by over 2.4 million carats.
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.
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.
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.
In May 2019, the Antwerp diamond industry celebrated the 100th anniversary of the brilliant cut, the world’s most successful diamond shape, created by Antwerp mathematician Marcel Tolkowsky. This anniversary celebration also served as the launch of a unique project called `t Steentje* (‘the Stone’). The project: to polish a single diamond as a community. The Antwerp World Diamond Centre (AWDC) and the Antwerp diamond industry arranged to have 57 well-known (and not-so-well-known) residents of Antwerp polish a single diamond: one person for each facet of a brilliant.
The Antwerp World Diamond Centre (AWDC) and Bain & Company have released their ninth annual report on the global diamond industry: Strong Origins: Current Perspectives on the Diamond Industry.
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.
Imports and exports of rough and polished diamonds to Antwerp slowed in October on a year-over-year basis as the market recession continued to impact the flow of goods and their prices. High inventories of polished goods continue to soften demand for rough goods to polish, pushing rough as well as polished prices down.
The Responsible Jewellery Council (RJC) has entered into a partnership with the United Nations Global Compact to develop best practice impact case studies for building awareness and educating key stakeholders across the jewelry supply chain from mine to retail on how businesses can contribute to the Sustainable Development Goals (SDGs). The Antwerp World Diamond Centre (AWDC) and the RJC recently organized a roundtable discussion with Antwerp-based RJC members.
The Antwerp diamond industry’s import and export figures for the month of September were mainly in line with what we could call ‘2019 normal’ – prices down, polished trade slow – but the volume of rough goods traded in Antwerp’s hit its highest levels of the year, with the quantity of rough exports more than doubling those in August, according to figures from the Antwerp World Diamond Centre's Diamond Office.
Members of the World Diamond Council (WDC) will be traveling to Antwerp, Belgium, for the organization’s Annual General Meeting, scheduled to take place October 2 and 3, 2019. The yearly gathering of the WDC membership will provide the opportunity to review the position of the diamond and jewelry industry regarding the Kimberley Process Certification Scheme, less than two months before the KP ends its current reform and review cycle.
H.E. Félix Tshisekedi, President of the Democratic Republic of the Congo (DRC), today paid a visit to the Antwerp diamond industry in the context of a broader mission to improve the relationship between Belgium and the DRC, which has been on the rocks in recent years. As President of the fourth largest diamond-producing country by volume, President Tshisekedi was welcomed by the Antwerp World Diamond Centre (AWDC), representative of the world’s largest diamond trade center.
From October 22-24, 2019, the Antwerp World Diamond Centre (AWDC) will be hosting the 15th edition of the "Antwerp Diamond Experience", where it will welcome select jewelers, wholesalers and manufacturers from across Europe and give them inside access to the world's leading diamond trade center … free of charge, and with no purchase obligation. (Registration link below).
Over the past two weeks, the Antwerp World Diamond Centre (AWDC) and the University of Antwerp welcomed 22 students from 10 different countries and 3 continents to the third edition of its summer school program, “From Mine to Finger: A deep dive in the world of diamonds” As AWDC CEO Ari Epstein explained regarding the motivation behind the summer university, “If we do not reach out to the younger generation, we run the risk of losing those very qualities that set Antwerp apart: forward-thinking, innovation and creativity.
The global diamond industry in the first half of 2019 faced a variety of well-doucmented challenges leading to declining commerce across all segments of the trade.
The organizers of the Hong Kong Jewellery & Gem Fair wrote a letter on Thursday to the three diamond trade organizations calling for the postponement of the fair, saying that the September show will be held as scheduled and reassuring them that "there are positive signs indicating that the situation is cooling down." In that regard, they may have spoken too soon, as
Three leading diamond trade bodies have submitted a joint appeal for the postponement of the Hong Kong Gem and Jewellery Fair, September 2019, until there is a more stable climate in the city.
The Antwerp World Diamond Centre (AWDC) has decided to discontinue its unrestricted funding of the independent Belgian research center WTOCD (Scientific and Technical Research Center for Diamond), citing the downturn in the diamond market and the sharp decline of diamond manufacturing in the city. “The current market situation has led us to take this decision,” says Margaux Donckier, AWDC spokeswoman.
A combination of factors has led to widespread uncertainty and a global downturn in the diamond industry during the first half of 2019. Antwerp - the world’s leading diamond trade centre - has not escaped its impact, particularly in the rough diamond trade. Economic uncertainty generated by an unstable geopolitical climate has also fostered a heightened sense of caution among the banks that finance the trade, as well as diamond brokers and consumers of luxury goods.
A delegation from Angola paid a visit to Antwerp this week as part of the country’s ongoing efforts to restructure and reform the functioning and reputation of its diamond industry, traveling to the diamond capital for consultations regarding implementation of the Kimberley Process (KP) regulations. The visit follows that of President João Lourenço to Antwerp last June, and the Belgian mission to Angola last November, spearheaded by Belgium’s Deputy Prime Minister and Minister of Foreign Affairs and European Affairs, Didier Reynders.
The Antwerp World Diamond Centre (AWDC), the coordinating federation for the Antwerp diamond industry, is joining forces with Ars Nobilis, the umbrella organization for the Belgian jewelry sector, in an effort to streamline the Antwerp diamond trade with jewelry manufacturers and retailers in Belgium. The two representative bodies yesterday signed a memorandum of understanding stating that the members of Ars Nobilis will be able to call upon the services of the AWDC regarding legal advice, training, public relations and communication, advocacy and security.
Antwerp’s polished-diamond trade continues to see rising prices in 2019 following a year which the industry recorded its highest ever average price per carat for polished exports. According to figures from the Antwerp World Diamond Centre (AWDC), year-over-year, the average price of polished-diamond exports rose by 42% in April to $2,663 per carat from $1,871 per carat in April of 2018. This led to a 14% increase in the value of polished exports in April despite a nearly 19% decline in the volume of goods exported.
The Antwerp World Diamond Centre (AWDC) on Tuesday published its second sustainability report (available to download here), looking at the impact the umbrella organization for the Antwerp diamond industry has with regard to the UN's Sustainable Development Goals (SDGs), locally as well as internationally.
The Gemological Institute of America (GIA) is enhancing its ‘Know Your Customer’ (KYC) program. As of May 1, the GIA will require all new and current laboratory clients to confirm the identity and ownership of their businesses, and to provide identifying information for all authorized representatives conducting business with GIA on their behalf. "These requirements are recognized globally and are not unique to GIA," reads a statement from the GIA.
The Antwerp rough diamond trade had its best month of the year thus far, particularly in terms of value, though like much of the rough trade globally it is operating at much lower levels than in 2018. Exports of polished goods slowed in March while prices continue their steady climb above the record average prices achieved in 2018.
More than 400 compliance professionals from around the world gathered in London yesterday for the presentation of the international "Women in Compliance" awards, an honor that shines a spotlight on female compliance professionals. Trisevgeni Stavropoulos and Iris Leerdam, the Antwerp World Diamond Centre's (AWDC) two female compliance officers, took home the hardware for “In-house Compliance Team of the Year”.
The Antwerp World Diamond Centre (AWDC), the umbrella organization of the Antwerp diamond industry, participated from 24 to 28 March in the Belgian State Visit to South Korea, where they co-organized an event to highlight a new partnership between Antwerp and Korea's leading jewelery brand, Golden dew. During the State Visit, and in honor of the jeweler's 30th anniversary, Golden dew launched three special cuts it developed together with three different Antwerp diamond companies.
With 86 percent of all rough diamonds flowing through Antwerp on their journey from mine to market, trends from the diamond capital give a fairly good indication of what is happening in the rough trade globally. According to February's figures from the Antwerp World Diamond Centre (AWDC), the trade in smaller, lower-priced goods is picking up again, but this does not mean demand is robust, as prices continue to tumble - something that cannot be said for the polished trade, where prices remain high.
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.
The Antwerp World Diamond Centre (AWDC), the umbrella organization for the Antwerp diamond industry, from 16 to 20 February 2019 participated in the Belgian Economic Mission to Mexico. Currently, Mexico mainly imports polished diamonds from the United States. The AWDC therefore viewed this Economic Mission as the ideal opportunity to promote the Antwerp diamond trade in Mexico and to ensure that Mexican diamond traders increase their diamond purchases directly from Antwerp.
Firestone Diamonds has announced the recovery of a 70 carat white, makeable diamond from its Liqhobong Mine in Lesotho.
"If even a fraction of Chinese production is upgraded to jewelry-quality diamonds, it would have a very significant impact on the global supply which is only in the low-millions-of-carats," independent diamond analyst Paul Zimnisky told Xinhua News journalists Wang Zichen and Shi Linjing.
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.
The Dubai Diamond Exchange (DDE), a subsidiary of the Dubai Multi Commodities Centre (DMCC), recently signed a service agreement to join the MyKYCBank platform of the Gem & Jewellery Export Promotion Council (GJEPC). DMCC Executive Chairman and DDE Chairman Ahmed Bin Sulayem GJEPC Chairman Pramod Kumar Agrawal did the honours. The DMCC is the fourth trade body to join the MyKYCBank after the GJEPC, Bharat Diamond Bourse (BDB) and the Antwerp World Diamond Centre (AWDC). The agreement enables DMCC members trading in diamonds, gold and precious stones to join the MyKYCBank platform.
The rough diamond trade in Antwerp during the month of November was marked by a resurgence of imports and exports of lower-priced rough after three sluggish months concerning the volumes of goods traded, while the polished trade experienced a general slowdown.
The Antwerp World Diamond Centre (AWDC) this week traveled to Guangzhou, China, for a networking blitz/conference tour on the Mainland, jointly organized with the Guangzhou Diamond Exchange. Mainland China presents a massive new opportunity for growth beyond the traditional markets of Hong Kong and Shanghai, so the AWDC set off with a group of diamond traders to meet up with a delegation of Chinese jewelry manufacturers looking for polished diamond suppliers in Antwerp.
This week, a group of nine government officials from four African diamond-producing countries (Cameroon, Congo Braza, Cote D'Ivoire, Guinea) embarked on a ten-day training course in Antwerp, furthering their knowledge of rough-diamond evaluation and valuation. The course, called the "KP Technical Assistance Valuation Program", originates from the commitment of the Diamond Development Initiative (DDI), which coordinates requests for Technical Assistance on behalf of the Administrative Support Mechanism (ASM) in the framework of the KP.