“We are building a new state-of-the-art tender facility,” says Ahmed Bin Sulayem, Executive Chairman, DMCC

Ahmed Bin Sulayem certainly needs no introduction being widely popular globally as one of the leaders of modern Dubai. As the Executive Chairman of DMCC, Ahmed Bin Sulayem has played and continues to play a key role in establishing and positioning DMCC...

Today

De Beers scaling up Tracr ahead of formal launch

De Beers tracked 100 high-value diamonds along the value chain during the pilot of Tracr™, its industry blockchain platform, for the first time in May last year. A De Beers spokesperson Bianca Ruakere told Rough & Polished in an exclusive interview that...

13 may 2019

The perfect couple - platinum and diamonds

The Jewelry House of Leon Megé located in New York has long been firmly established in the jewelry market as a source of magnificent jewelry, in which platinum and diamonds often sparkle being married together and attracting everyone’s eyes, but are...

06 may 2019

The technology of growing single-crystal diamonds has now become industrial in nature

It is believed that the reserves of natural diamonds will be exhausted by the middle of the century, and therefore production of synthetic diamonds is rapidly gaining relevance. According to Business Insider India’s estimates, the global synthetic diamond...

29 april 2019

De Beers only selling Elizabeth Bay Mine in Namibia, move to sustain operations beyond 2019

Namdeb Holdings, a 50/50 joint venture between the Namibian government and De Beers is not selling Daberas, Sendelingsdrift and Southern Coastal mines in the southern African country. It had been alleged that Namdeb was planning to close and offload...

22 april 2019

Increase in demand from India fails to boost De Beers rough sales

05 march 2019

de_beers_logo.pngDe Beers, which is 85 percent-owned by Anglo American, said the overall demand for lower value rough diamonds remained subdued as its second sales cycle of 2019 dropped 13.9% to $490 million compared with $563 million, a year earlier.
De Beers chief executive Bruce Cleaver said they recorded an increase in demand from India as factories begin to restock, despite the weak demand for lower value rough stones.
The group raked in $500 million from the first cycle of 2019.
De Beers reduced prices of low-quality diamonds at its ninth rough sale in 2018 by about 10 percent.
It also took an unordinary step last September of allowing its customers to refuse to buy some lower-quality stones.
The group last had major price cuts in early 2016 amid a credit crunch across the industry and weak demand in China.
De Beers produced 35.3 million carats in 2018 compared to 33,5 million carats produced in 2017.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished