Grib Diamonds today (11 December) sold more than $30M and 370K carats though its online Spot Auction in Antwerp. The diamonds included, for the first time, goods purchased from Angola as well as its usual Russian production from its wholly owned mine in Arkhangelsk, Russia.
The first ever direct tender in Antwerp of 350,000 carats of rough diamonds from the Democratic Republic of the Congo (DRC) delivered on all expectations.Out of 115 companies, both Antwerp-based companies and foreign buyers from Israel, India, Dubai and other countries, attending the viewings, 79 companies placed 426 bids on 36 lots.
Rio Tinto’s Argyle Pink Diamond tenders, the 35th since the mine started producing the rare pink, red and violet diamonds, received a lot of interest, the company says. As the Argyle mine is due to close next year, the 2019 tender is most likely one of the last tenders, explaining the double-digit growth in bids made on the lots of polished pinks, reds and purples. The most valuable diamond in the selection, the Argyle Enigma, was bought by Australia-based Star & Kiven Diamonds (Aurostar group), who also won the winning bid for the Argyle Verity.
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.
Starting November 14, 350,000 carats of rough Congolese diamonds worth an estimated $6 million will go on tender in Antwerp, as the DRC and Antwerp take a first major step toward implementing a cooperation agreement signed in September to facilitate access for DRC miners to Antwerp’s transparent diamond market, and in particular its tender houses. The complete parcel will contain approximately 15% gem-quality goods and 85% industrial-grade diamonds, with closing bids on November 20.
Stornoway Diamond Corp. is a Canadian diamond exploration and producing company that developed the Renard mine over the course of two decades from a grassroots exploration project to a world-class diamond mine - the first in Québec. The massive project, built for $774 million - under their budget of $811 million - sparked enthusiasm across the diamond industry, which has seen few new mines open in recent years. Stornoway delivered the first ore to the processing plant in July 2016 and achieved full production in the summer of 2017.
Diamcor Mining Inc., a TSX-listed junior diamond mining company with operations in South Africa, sold 4,033 carats of rough diamonds at its first tender in Antwerp and has delivered another 6,369 carats which it expects to sell at a second tender at Koin International in Antwerp in November. A third tender is planned for December. The more than 10,000 carats of rough diamonds expected to be delivered and tendered in Q3 represents a significant increase compared to 3,882 carats delivered and tendered in Q2.
Petra Diamonds will hold a special tender of the 20.08-carat blue diamond the miner recovered from the Cullinan mine in South Africa last month, with analysts speculating it fetch as much as $15 million. The stone is a gem-quality Type llb diamond.
The Minerals Marketing Corporation of Zimbabwe (MMCZ) says it will conduct another diamond auction before the end of the year, and is aiming to sell between 400,000 and 500,000 carats. Two weeks ago, the MMCZ conducted its third auction this year, where they auctioned 316,000 carats and attracted 25 companies from around the world.
Diamcor Mining, a publicly-traded junior diamond mining company with a strategic alliance and first right of refusal with Tiffany & Co. Canada, reported a 22% decline in rough diamond sales in the second fiscal quarter due to the sale of a higher percentage of smaller, lower-quality rough diamonds than in the same period last year.
The Dubai Multi Commodities Centre (DMCC) today (Sept. 25) unveiled the redesigned and upgraded Dubai Diamond Exchange (DDE) auction facility, which it is calling the world’s largest diamond trading floor. Located at the Almas Tower in Dubai, UAE, the refurbished trading floor has 41 viewing stations with specially designed lighting and high-resolution cameras. Designed principally for rough and polished diamonds, the DMCC says that changes have been made to the DDE windows to enable trade of colored gemstones.
The Minerals Marketing Corporation of Zimbabwe (MMCZ) says the country’s third diamond auction for this year, which closed last week, attracted 25 companies from around the world. The tender of 316,000 carats opened on September 9. MMCZ general manager Tongai Muzenda said “We had invited 28 companies for this third diamond auction and three did not come, and this means we attracted 25 companies." The results of the tender are not yet avaiable, with Muzenda saying they are currently working on the bids made by the prospective buyers.
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.
International diamond brokerage firm Bonas will hold its fourth colored gemstone tender at the Hong Kong SkyCity Marriott Hotel from Saturday 14 to Wednesday 18 September 2019 to coincide with the September Hong Kong gem and jewelry show. Bonas will tender "the most extraordinary gemstones" to retailers and wholesalers looking for special pieces to add to their collection. This September’s tender will feature 460 examples of precious coloued gemstones. Unlike traditional auctions, tenders have no listed selling price, nor extra fees such as the buyer's premium.
Sodiam, the Angolan state diamond marketing company, today announced the opening of its online registration process to participate in its future competitive sales of rough diamonds, following through on Angolan president Joao Lourenço's intention to fully reform the country's diamond industry. Last year, the country approved new diamond marketing laws, with Lucapa Diamond Co.
Lucapa Diamond Company, which operates high-value mines in Lesotho (Mothae) and Angola (Lulo), saw its first half 2019 net profit after tax jump to US$1.1 million compared with a US$4.3m loss during the same period last year as an increase in production led to higher sales, complemented by a massive jump in the average price per carat sold. Their combined rough sales rose by 85% to US$29.4 million from US$15.9 million a year ago.
The Dubai Diamond Exchange (DDE), a subsidiary of the DMCC, completed three rough and polished diamond tenders in the week of July 16 - 23 while the DDE is under renovation. The three separate tenders were hosted by Rapaport, Stargems and Trans Atlantic Gem Sales (TAGS), with reportedly over 200 companies participating.
Canadian junior miner Tango Mining recently sold at tender a parcel of 230 diamonds weighing 531.82 carats, achieving an average price of $1,382 per carat. The sale included a 19.87-carat diamond which sold for $4,358 per carat, a 49.6-carat diamond which sold for $2,561 per carat and a 24.97-carat diamond which sold for $1,101 per carat. The diamonds on tender were recovered during the most recent production period at its Oena project in South Africa, May 9 to July 7 2019.
Rio Tinto has unveiled the collection of diamonds on sale at what may be one of its last tenders of the world's rarest pink and red diamonds, as the life of the Argyle mine in Western Australia is winding down. The mine produces more than 90 percent of Australia's diamonds, and is one of the only known sources of pink diamonds in the world.
Alrosa held a tender for polished diamonds in New York this June, earning $3 million from the sale of 20 polished diamonds with total weight of 140.4 carats for an average value of approximately $21,430 per carat. The diamonds on tender included 8 gemstones of standard color and 12 fancy colored polished diamonds, most of them with Fancy Yellow and Fancy Intense Yellow characteristics.
Lucapa Diamond Co.'s latest sale of diamonds from the Lulo alluvial mine in Angola achieved gross revenues of US$10.0 million (A$14.5 million) from run of mine parcels totalling 5,573 carats, representing an average price of US$1,800 per carat. This took total sales of Lulo diamonds to date in H1 2019 to US$22.1 million achieving an average price per carat of US$3,668, "further underling Lulo’s status as the world’s highest average price alluvial diamond production," the miner writes.
ASX-listed Lucapa Diamond Company held the second tender in 2019 of diamonds from the new Mothae kimberlite mine in Lesotho, selling a parcel of 7,008 carats of rough diamonds sold at Bonas tender house in Antwerp for a total of US$3.5 million (A$5 million). The tender included prices of up to US$26,000 per carat paid for individual Mothae gems.
This weekend, May 11 -13, the Dubai Multi Commodities Centre (DMCC) will be hosting what it is calling the "first-ever rough laboratory-grown diamonds tender" on its Dubai Diamond Exchange (DDE). According to a press release, 50,000 carats of Chemical Vapour Deposition (CVD) lab-grown diamonds will be on offer. "The tender is in line with DMCC’s strategy to attract, facilitate and drive new trade flows through Dubai," the organization says.
Lucapa Diamond Co. has reported an "excpetional performance" from the Mothae kimberlite mine in Lesotho in its first full quarter of production, while output from the Lulo alluvial mine in Angola fell as the miner focused predominantly on lower grade mining areas. The miner held two milestone tenders during Q1 2019: its first ever sale of Lulo diamonds via international tender under the new diamond marketing reforms enacted by the Angolan President, Joao Lourenco, and its first commercial run of mine tender from Mothae via Bonas tender house in Antwerp.
Diamond Fields Resources, based in Vancouver, sold 47,298 carats of Namibian marine diamonds for $1,105,530 at a tender in Antwerp, including a 5.71 carat pink diamond which sold for $97,076 or $17,000 per carat. This was the first sale of diamonds from the ML111 licence offshore Namibia since mining resumed in 2018.
Rough diamond buyers almost by default desire ‘original’ rough, flowing directly from the mine of origin to the tender house. With current supply limited and no major increases on the horizon, however, maximizing the volume of available goods becomes more of a priority. Adam Schulman at Koin International tender house in Antwerp believes he has found an answer in KoinDex, a sales system that takes the hidden supply of rough diamonds already available to the market and packages them into parcels deserving of the same respect and attention from buyers that original rough goods receive.
Diamcor Mining, a publicly traded junior diamond mining company based in Canada and operating in South Africa, sold 1,220 carats of rough diamonds recovered from ongoing processing exercises performed at its Krone-Endora at Venetia Project in South Africa for US$376,000, achieving an average sale price of $308.06 per carat. This represents an increase of 76% compared to the company’s average price per carat of $176.16 realised on all rough diamonds tendered and sold to date, and included the sale of a 44 carat gem quality rough diamond.
Australian diamond miner Lucapa has reached two milestones in the space of a month: first, the inaugural international tender of Angolan diamonds offered for sale via a competitive tender under the new diamond marketing policy enacted by the Angolan President, Joao Lourenco, and the maiden tender of goods from the Mothae mine in Lesotho held at Bonas t
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.
Australian junior miner Lucapa Diamond Co. held the first sale of diamonds at the Bonas tender house in Antwerp from the new 1.1Mtpa Mothae kimberlite plant in Lesotho, marking the mine's arrival on the international market. The parcel of 5,411 carats of rough diamonds recovered during the plant ramp-up phase in Q4 2018 and in the first month of commercial mining operations at Mothae in January 2019 sold at tender in Antwerp for a total of US$3.8 million.
Tender house Koin International will hold their regular tender for South African miner KEM (Kimberley Ekapa Mining) from 4 - 8 March in Antwerp This is a full Run of Mine production of 50,000cts including melee through to 10.80+ single stones and fancy colors. In addition, the sale will include KoinDex, Koin International’s innovative new monthly tender with ‘Trigger Pricing’. The “Trigger Price” is a displayed price which means buyers have access to a guaranteed sell point.
Viewings will take place by appointment in Antwerp at the offices of Koin International.
Diamond tender house Koin International will hold two rough diamond tenders for original African productions this February in Antwerp. From 11 – 14 February, Koin will tender the KEM (Kimberley Ekapa Minerals) production from Kimberley, South Africa. This is a full Run of Mine tender including large single stones and fancy colors. KEM's sought-after production was previously offered only in South Africa, but Koin held a successful initial tender in Antwerp last August-September.
Lucapa Diamond Co. sold seven large, top-quality diamonds weighing 498 carats at the inaugural competitive tender under Angola’s new diamond marketing policy, earning US$16.7 million, representing an average price of US$33,530 per carat. The exceptional stones from the Lulo alluvial mine in Angola were offered for sale via electronic tender organised by Sodiam (Angolan state diamond marketing company) in Luanda.
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.
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.
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.
Lucapa Diamond Company, which only two weeks ago commenced its commissioning of the 1.1Mtpa (million ton per annum) treatment plant at the high-quality Mothae kimberlite open-pit diamond mine in Lesotho, will be holding its first ever tender of Mothae diamonds in Antwerp, starting November 12. The Mothae treatment plant, which incorporates two XRT diamond recovery circuits, will be ramped up to its nameplate capacity throughout the December quarter.
Zimbabwe’s second diamond tender of 2018 earned $28.3 million from 423,066 carats, for an average price of $67 per carat. This represents a huge step forward as the country tries to regain market confidence and reclaim a stake in the global diamond trade, even though the tender attracted fewer international buyers than expected.
Koin International Tenders has announced the addition of the KEM production (Kimberley Ekapa Minerals, South Africa) to its rough tenders. Previously offered only in South Africa, this sought-after production will now be offered at Koin tenders in Antwerp. An initial sale of over 66,000cts of 3Gr down and 10.80+ Single Stones will be on offer. Viewings for 10.80+ will be from August 20 to September 5, overlapping with Run of Mine production from the 28 August to 7 September.