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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... De Beers’ sales rose year on year in August, defying global economic uncertainty amid solid rough demand. Proceeds came to $630 million at the seventh sales cycle of 2022, up 21% compared with the $522 million the company registered in the equivalent period of 2021, De Beers...
RAPAPORT... Rough prices have fallen substantially on the open market amid a correction following months of heightened activity, dealers told Rapaport News.Buyers had stocked up on goods in anticipation of further price increases, while rising rough valuations had resulted in thin...