African diamond firms on COVID-19 response, recent developments

Rough & Polished recently contacted several diamond producers and exploration companies with operations in Africa to establish how their operations were affected by the Covid-19 pandemic and what they are doing to alleviate the impact. We also sought...

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A first-generation diamantaire Yoram Dvash, currently serving as the Acting President at World Federation of Diamond Bourses (WFDB) and the President of the Israel Diamond Exchange (IDE), launched his diamond manufacturing and trading...

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18 may 2020

Keeping global supply chains functioning vital – De Beers

Diamond giant, De Beers has said that it is essential to keep global supply chains functioning in view of the substantial impact of Covid-19 on the industry. Group spokesperson David Johnson told Rough & Polished’s Mathew Nyaungwa in an exclusive interview...

11 may 2020

Gabon courts foreign investors to grow fledgling diamond sector

Diamond production in Gabon, which has been a member of the Kimberley Diamond Certification Process since 2018, is currently dominated by artisanal miners. The artisanal miners are producing about 300 carats per month, according to Gabon’s director of...

05 may 2020

De Beers confirms offering customers flexibility as diamond sales fall again

04 october 2019

de_beers_logo.pngDe Beers has confirmed that it continued with its policy of offering flexibility to its diamond buyers at the just ended eighth sales cycle of the year.
Some buyers who attended the September sightholders sales last week in Gaborone, Botswana had said the firm allowed buyers to reject half the stones in each parcel offered. 
They were also given room to sell back some diamonds to De Beers on favorable terms. 
The Anglo American unit said it raked in $295 million during the cycle compared with $482 million, a year earlier or $287 million realised during the seventh cycled.
“As we approach what is traditionally a quieter time of year for the diamond industry during the Diwali holiday, we have again offered our customers flexibility during this sales cycle,” said De Beers chief executive Bruce Cleaver.
The industry is currently experiencing an oversupply of polished diamonds that have led to sharp price drops than for rough stones.

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