442-carat diamond, valued at $18m, found at Letšeng
Gem Diamonds has unearthed a 442-carat Type II stone, reckoned to be worth $18m, at its Letšeng mine, in Lesotho.
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The largest natural color diamond ever found in Russia’s Yakutia
Press release – Almazy Anabara (Diamonds of Anabar), a part of ALROSA Group, found a 236-ct rough diamond of intense yellow-brown color. The diamond was extracted from the Ebelyakh mine in Yakutia, Russia. This is the largest natural color rough diamond ever found in Russia.
Why Lucara’s new deal might change the diamond market
On July 15, Lucara Diamond, owner of the Karowe mine in Botswana, announced it had forged a “groundbreaking” deal with Antwerp Belgium’s HB Group. The deal calls for Lucara to sell all its “special” (more than 10.8 ct.) diamonds to HB through the end of the year.
What De Beers and Alrosa clients really want
The biggest sore points for contract customers — high rough prices and weak profit margins — are intrinsically linked to the complex question of customization.
De Beers CEO: how we plan to transform our business
On Thursday July 27, De Beers released financial results for the first half of the year, which show just how much it’s been battered by COVID-19—with total revenue coming in at $1.2 billion, a 54% drop from the year before, which itself was not a great period.
ALROSA announces new support and stabilization measures for the industry
Press release – ALROSA retains its commitment to support its clients and the diamond industry and announces a new set of unprecedented measures to offer additional flexibility to its rough diamonds’ buyers.
Covid-19 Ravages De Beers Sales
De Beers’ sales and production nosedived in the second quarter as the coronavirus crushed diamond demand throughout the pipeline and forced shutdowns at several mines.
Alrosa sees weakest performance in years
Alrosa’s sales and production slumped to their lowest levels in over a decade in the second quarter amid unprecedented weak demand for rough diamonds during the coronavirus crisis.
India trade calls for lower import tax
India’s diamond sector has asked the government to reduce import duties for polished, arguing that a lower rate would boost the country’s position as a trading hub.
ALROSA amends its trading sessions’ schedule
Press release – ALROSA decided to change dates for its trading sessions in July and August after having reviewed the current market situation.
The company that owns the Cullinan mine is up for sale
Saddled with hundreds of millions of dollars in debt and facing a diamond market hobbled by COVID-19, miner Petra Diamonds has put itself up for sale.
Buyers snub De Beers and Alrosa over high prices
De Beers and Alrosa continued to see rock-bottom sales in June as buyers rejected the miners’ high rough prices in favor of cheaper goods from smaller suppliers.
