De Beers to hold sight 5 from mid-June

De Beers is set to conduct sight 5 from June 15 in Botswana, South Africa and Namibia, according to impeccable sources privy to the goings on.


DPA rebrands to Natural Diamond Council

The Diamond Producers Association (DPA) has rebranded to the Natural Diamond Council (NDC) as it seeks to promote the desirability of natural diamonds and support the integrity of the diamond jewellery industry.


DRC suspends board, management of state-owned diamond firm Miba

The board and management of the Democratic Republic of Congo (DRC)’s state-controlled diamond company, Bakwanga Mining (Miba SA) has been suspended, according to news reports.


Christie’s schedules LIVE auction in Hong Kong for July 9

Christie’s Magnificent Jewels live auction scheduled for July 9 in Hong Kong will top bill a rare 12.11-carat intense blue/IF diamond ring.


Antwerp Diamond Bourse president Korn steps down

The Antwerp Diamond Bourse announced that its president, Jacques Korn, is stepping down for personal reasons and will be replaced by current board member and vice-president, David Gotlib.


Weak update from ALROSA. The company’s diamond sales plummeted in June

11 july 2019

ALROSA published sales data for June 2019

( - In June, ALROSA sold $ 222.4 million worth of diamond goods, which is 43% lower compared with June 2018 and 16% lower against the company’s sales last May.


The sales of rough diamonds in value terms amounted to $ 219.3 million decreasing by the same 43% year on year and 16% quarter on quarter.


Polished sales reached $ 3.1 million in June, down 53% versus June 2018 and 38% lower than last May.


In total, ALROSA netted $ 1,811 million (-33%) from sales of rough and polished goods in January-June 2019. The company’s revenue from rough diamonds sold in the first six months of 2019 was $ 1,784 million (-32%) and from polished diamonds - $ 27.3 million (-45%).

Evgeny Agureev, Director of the United Selling Organization of ALROSA, Member of the Executive Committee:

“We keep implementing our balanced sales strategy amid the backdrop of persisting excess diamond stock both at the cutting and polishing (midstream) sector and at retailers, as well as challenges related to financing of Indian midstream business. The market is gradually entering the phase of seasonally low demand for rough diamonds, which also weighs on the industry sales numbers. We expect Improving demand for rough diamonds by the end of the third quarter. We also see stable jewelry demand from end consumers, which creates opportunity for the recovery of overall demand for rough diamonds on the eve of Christmas sales 2019-2020.”

Comments from Dmitry Puchkaryov, BCS Broker:

“ALROSA's weak results could have been expected against the background of recent sales announced by its main competitor, De Beers, which reflected a significant decline. The negative drivers, which were in evidence for the company throughout the first half of the year, remained, but now additional pressure is exerted by the seasonal decline in demand for rough diamonds. Sales recovery in the near future is questionable due to the ongoing “fever” in India’s diamond cutting segment.

Against the background of negative dynamics in diamond sales, the financial results of ALROSA for the second quarter are expected to suffer. In this situation, it is reasonable to expect a decrease in dividends from the mining company in the first half of 2019.”

BCS Broker