The R&M “Lettre”

De Beers Group [announced December 21] the value of rough diamond sales (Global Sightholder Sales and Auctions) for the tenth sales cycle of 2022.

After a slew of headline-grabbing prices, top colored diamonds have started tapering off. Experts say market fatigue may be denting the wow factor.

De Beers plans to allocate more of its rough to manufacturing units in Africa next year, according to sightholders, resulting in less supply for other cutting operations amid a drop in the miner’s overall output.

Construction of the Surat Diamond Bourse (SDB) is complete, paving the way for the Indian industry’s newest exchange to open in the spring of next year, according to the organization behind the development.

De Beers has extended its sightholder contracts by one year, a reflection of what it calls “uncertainty” in the market.

Sergey Ivanov, CEO of Alrosa and a target of US sanctions, is stepping down from his position at the Russian miner, according to a local news outlet.

Melee goods — and the rough that produces them — are outperforming larger sizes due to strong luxury demand and a supply squeeze.

Rio Tinto has forecast a sharp drop in rough-diamond output for next year as the Diavik mine edges closer to depletion.

For the last few years, the lab-grown diamond sector has led a mostly charmed existence. Demand kept rising, particularly in the United States, as the business benefited from growing consumer acceptance and all the factors that boosted the industry during the COVID-19 pandemic.

Lucara Diamond Corp. and Belgian manufacturer HB Trading have signed a sales agreement that will see the pair partner on large stones through December 2032.

Last September, I wrote an article on lab-grown diamond prices, where I quoted an “industry veteran” as saying that, with lab-grown diamonds being sold at 90% off the Rapaport list, “what’s lower than that? 100%?”

As in September, the company’s sales were up slightly year-over-year but down month-to-month