Alrosa has highlighted concerns about the impact of the US’s punitive measures after reporting its strongest annual earnings in five years. Revenue jumped 51% to RUB 326.97 billion ($2.99 billion) in 2021 as the diamond market recovered from the previous year’s downturn, the Russian miner reported Wednesday. This drove net profit to RUB 91.32 billion … Read more
The US has imposed sanctions on Alrosa and its CEO, Sergey S. Ivanov, in response to Russia’s invasion of Ukraine. The diamond miner is one of 11 entities the Department of the Treasury has identified as being owned by or connected to the Russian government, according to a Thursday statement. The measures restrict American companies’ … Read more
De Beers lifted prices of smaller rough at this week’s sight, its second consecutive increase, as the industry continued to express concerns about a perceived mismatch with polished. Goods weighing less than 0.75 carats saw price hikes of around 5% at the February sale, while larger items were mostly stable, sightholders and industry insiders told … Read more
Botswana’s state-run diamond trader reported record revenue last year with sales surging almost five fold after U.S. imports recovered from a Covid-19 induced slowdown. Okavango Diamond Company sold $963 million of rough diamonds last year, said Dennis Tlaang, a company spokesman. The revenue was the most since the company began operations in 2012, he said. … Read more
Cullinan Blue Diamond
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In line with its approach of fostering long-term sustainable development of the diamond market, ALROSA gives its customers an opportunity to adjust their diamond purchase schedules under trading sessions. The demand for rough diamonds in early 2022 as well as in the second half of 2021 was outstripping supply, as cutters were actively buying rough to restock … Read more
Sotheby’s sold a 555.55 carat Fancy Black Diamond believed to have come from outer space for an astronomical $4.28 million at auction on Tuesday. Bidding closed at £3.2 million, excluding buyer’s premium. This diamond will be offered without reserve. The Enigma, as it is known, is the largest cut diamond in the world, according to … Read more
The current shortfall in rough production will likely continue for up to a decade, while both demand and prices will remain strong, according to Bain & Company. Output fell 20% to 111 million carats in 2020 as the coronavirus pandemic forced companies to shut deposits, Bain said Monday in “The Global Diamond Industry 2021-22,” the … Read more
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