CIBJO releases precious metals special report

With fewer than six weeks to go to the opening of the 2021 CIBJO Congress on November 1, 2021, the third of this year’s CIBJO commissions' Special Reports has been released.


iTraceiT to help the diamond and jewelry industry become more transparent

iTraceiT, a new and independent technology and service provider, will soon launch a robust and user-friendly traceability solution for the diamond and jewelry industry.


Chinese diamond miner apologises to Marange headman – report

Anjin Investment, a joint venture between China’s Anhui Foreign Economic Construction Company (AFECC) and Matt Bronze, an investment vehicle controlled by Zimbabwe’s military, has apologised to Headman Chiadzwa for resuming operations in Marange...


Catoca denies polluting DRC rivers that killed 12 people

Sociedade Mineira de Catoca which produces 75% of Angola’s diamonds, has denied leaking heavy metals from its mine in the northern part of the country.


Ethereal Green Diamond produces the world’s largest LGD

Ethereal Green Diamond is the manufacturer and global supplier of lab-grown diamonds headquartered in India. Ethereal Green Diamond has produced the world’s largest certified lab-grown diamond, the 14.60-carat ‘Freedom of India’.


1H 2009 Results: De Beers

06 august 2009

In the first six months of 2009 De Beers’ diamond output dipped to mere 1.655 million carats (a 50% drop) bringing down all its major performance indicators (Table 1 and 2).

In the first six months of 2009 the company’s rough sales amounted to $1,429 million. Evidently, within this period De Beers was selling its rough stocks accumulated in the previous period and worth over $1.2 billion. The sharp decline in demand for rough diamonds pushed rough prices down. Diamond content in the ore was reported to be only 0.36 carats per ton.

In the first half of 2009 diamond output was significantly decreased due to the financial crisis (Fig. 1 and Table 3).

As we see, there was a slump in De Beers’ diamond output in the first quarter 2009 compared with the previous quarter – reaching 90%. In 2009, the De Beers Group’s output will drop by about 50%, which will result in losing its leader’s position to ALROSA in physical terms. However, the evident advantage of DTC’s sale system permits De Beers not only to preserve its global leadership in the diamond business, but to monopolize the international market of rough diamonds.

Yuri Danilov, Senior Research Fellow, Department of Rough and Polished Diamonds Complex Economy, Institute for Regional Economics of the North (Federal State Scientific Entity)