Gem Diamonds' Letšeng mine to remain fully operational despite new Covid-19 lockdown

Gem Diamonds says its Letšeng mine in Lesotho will remain fully operational following the announcement of new Covid-19 lockdown restrictions. It said in a brief statement that Letšeng would continue to implement measures for the regular testing and...

15 january 2021

Petra investors approve plans to restructure business

Troubled Petra Diamonds says its investors have ratified plans to restructure the business in a bid to ensure short and long-term viability. It said more than 95% of shareholders backed a resolution that includes reducing authorised share capital...

15 january 2021

Russian diamonds enjoy success in Dubai

Russia-based diamond miner ALROSA held an auction in Dubai last December putting on the block diamonds of special sizes (weighing 10.8 carats and above). According to the company, this auction netted $ 7.4 million.

15 january 2021

Lucapa temporarily mothballs Mothae after COVID-19 lockdown

Lucapa Diamond has temporarily suspended mining operations at the Mothae kimberlite mine, in Lesotho with appropriate care and maintenance, and security measures. This comes after the government of Lesotho introduced a new 14-day nation-wide lockdown...

15 january 2021

Myanmar and Malaysia to work with GIT for increasing coloured gems market

Jewelry entrepreneurs from Myanmar and Malaysia have expressed their trust in the expertise of The Gem and Jewelry Institute of Thailand (GIT) in raising the standards of gems and jewelry laboratories, developing personnel, and its aim at driving...

15 january 2021

What De Beers and Alrosa Clients Really Want

31 august 2020

(diamonds.net) - Ask a De Beers or Alrosa contract client about the biggest problems with the miners’ age-old systems for selling rough, and the answer will probably include a comment on prices. High rough prices relative to polished have squeezed diamond manufacturers’ profit margins for years. But there’s a more complex issue behind the complaints: the lack of customization. The two mining giants sell most of their goods to fixed lists of customers that commit to buying certain quantities of rough in return for guaranteed supply. The stones traditionally come in prearranged boxes that clients can either take or refuse. Usually, each assortment contains diamonds the client wants and others it only buys to fulfill its contract. While De Beers and Alrosa have introduced some flexibility, the core reality remains: To get their hands on profitable rough, midstream players have to buy other goods that lack sufficient value.