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08/08/2024 14:17In an announcement to its clients, De Beers has announced it is rescheduling sights to alleviate market pressure caused by decreased demand and a supply glut. Sights 7 and 8 will be combined at the end of September and Sight 9 and 10 dates are amended to accommodate timing issues in Botswana, to November 4-8 and December 2-6.
22/04/2024 07:27India's Gem and Jewellery Export Promotion Council (GJEPC) reports the overal exports of polished diamonds in FY2024 dropped 25.23% to nearly US$16bn from US$22bn in the previous financial year. GJEPC cites a slowdown in the US market due to high interest rates and slower than anticipated post-covid market conditions in China. LGD exports decreased 13.79% to US$1.4bn compared to US$1.6bn a year earlier.
(photo Envato Elements)
30/04/2020 12:49Russian diamond mining giant Alrosa has suspended operations of its diamond polishing plants until the end of summer due to falling demand, CEO Sergei Ivanov said in an interview to RCB television channel broadcast on Wednesday. The miner also announced today (April 30) it is granting its rough diamond clients "maximum flexibility" for the May trading session and has not set an "obligatory buyout limit", adding that "deferred goods will be offered during future sales periods. Clients interested in purchasing rough are free to request and get the goods they need.”