Revenue at Gem Diamonds rose 20% year on year to $56.6 million in the third quarter, reflecting solid pricing and an increase in sales of high-value stones.
“Tenders in Antwerp, together with a Dubai tender viewing in September 2022, were well attended and contributed positively to the...
The Botswana government has refuted a report that the country might scale back its sales partnership with De Beers.The local Sunday Standard claimed Botswana was expected to offer most of its large stones through parastatal Okavango Diamond Company to a partnership between Lucara Diamond Corp....
De Beers’ 2022 Diamond Insight Report focused on the importance of brands — no coincidence given the miner’s own emphasis on its consumer-facing labels in the past couple of years. Jewelry from a trusted name commands a significant premium, and this trend goes hand in hand with an increased...
Sales at Lucapa Diamond Company rose sharply in the third quarter, reflecting solid production even as market conditions worsened.Rough-diamond revenues jumped 42% year on year to $25.5 million for the period, the company said Monday in an email to Rapaport News. Sales from the Lulo mine in...
RAPAPORT... De Beers said diamond demand was likely to slow in the coming months amid difficult market conditions, even as sales rose in the third quarter.
The miner’s sales volume increased 17% year on year to 9.1 million carats in the three months ending September 30, parent company...
Consumers are increasingly turning to branded jewelry in search of trustworthy products with clear origins, according to De Beers’ latest Diamond Insight Report.Environmental concerns, social movements and the Russia-Ukraine crisis have sharpened the focus on provenance and sustainability....
RAPAPORT... De Beers will offer widened concessions to purchasers of larger rough diamonds at its upcoming sight as trading has slowed amid difficult market conditions.The miner will increase its “buyback” allowance to 20% for 1-carat goods and up at the sale, which begins later this month,...
RAPAPORT... Petra Diamonds has extended its latest sale after experiencing “unusual market conditions” in certain rough categories, the miner said Tuesday in a trading update.The company noted “some buildup in inventory [in the industry] pre-Diwali.” This prompted it to delay the closing of...
RAPAPORT... De Beers has released its sales schedule for next year, with the miner holding its usual 10 sights across the 12-month period.The miner sells most of its rough to sightholders through a contract system under which clients make certain purchasing commitments in return for...
RAPAPORT... The American Gem Society (AGS) will close its laboratory operations at the end of this year and integrate them into the Gemological Institute of America (GIA).AGS Laboratories’ research staff, intellectual property (IP), technology and Las Vegas facility will become part of the...