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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.
The biggest sore points for contract customers — high rough prices and weak profit margins — are intrinsically linked to the complex question of customization.
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.
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.
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’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’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.
Press release – ALROSA decided to change dates for its trading sessions in July and August after having reviewed the current market situation.
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.
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.
The diamond mining sector has been hard hit by the coronavirus crisis. There has been a significant drop in demand — when rough sales could even take place — forcing miners to reconsider their production programs for 2020. However, Lucara Diamond Corp. appears cautiously confident that it has the balance sheet, the sales platform, and […]
Gem Diamonds has recovered a 163 carat yellow type 1 diamond at its Letšeng mine, in Lesotho.
