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ALROSA helped 32 seriously ill children see the football stars

ALROSA, the world’s largest mining company, helped 32 seriously ill children make their wishes come true and go to the World Cup in Russia FIFA 2018™.

Yesterday

De Beers lifts Q2 output to 9 mln cts

Anglo American said De Beers’ rough production jumped 3 percent to 9 million carats in the second quarter of the year from 8,7 million, a year earlier, reflecting sustained healthy trading conditions.

Yesterday

Pangolin acquires significant stake in AK10 kimberlite

Pangolin Diamonds has signed a joint venture agreement with Makanwu Civil Blasting (MCB), a private company in Botswana, which granted it the sole and exclusive option to earn up to a 75 percent interest in the AK10 diamond project.

Yesterday

Arkhangelskgeoldobycha may eventually be bought by ALROSA

According to an article published today by the Kommersant Daily, Russia’s Central Bank raised multibillion claims against the Otkrytie Holding and the latter might need to sell Arkhangelskgeoldobycha (AGD), which is developing the Grib diamond...

Yesterday

Institutional Investor ranks Sergey Ivanov among the best CEOs in the mining sector

Sergey Ivanov, the CEO of ALROSA, was named one of the best CEOs in the mining sector, according to Institutional Investor’s ranking.

19 july 2018

Rough Supply Up, Polished Sales Down, and Stockpiles Created

11 august 2017
(ehudlaniado.com) - It was only a week ago when we discussed the disconnect between rough and polished diamonds, and it seems that the divide is only growing. Last week, I noted that De Beers’ rough diamond sales increased during the first half of 2017. My point was that rough diamond supply increased, while polished prices and demand declined.
De Beers reported that their diamond production in the second quarter of the year totaled 8.7 million carats, a 36% year-over-year increase. My research firm Mercury Diamond reported two weeks prior that the Mercury Diamond Global Tracker™ (MDGT™), an index of polished diamond prices, declined 0.6% year-over-year in June 2017. It was the 31st consecutive month of decline, a period of more than two and a half years of continuous eroding value. The disconnect, however, is less related to changing prices, and more to demand: if there is demand, the supply makes sense.
Last Tuesday, De Beers announced the results of its sixth cycle rough diamond sales. According to the press release, it sold $572 million worth of rough diamonds during the cycle though all of its different channels. This is $31 million more than the $541 million worth of rough diamonds it sold during the previous cycle, and $44 million more than the $528 million worth of rough diamonds it sold during the sixth cycle of last year. So, not only did rough diamond sales increase during the first half of 2017, but the trend of increased sales is continuing into the third quarter as well.

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