Israel Posts Sharp Drop in Polished Diamond Exports in First Half of 2016

Israel reported a strong decline in polished diamond exports for the first half of 2016 - dropping 14 percent on the year to $2.61 billion - according to official figures.

Exports to Israel’s largest market, the U.S., fell 15 percent, and to its second-biggest market, Hong Kong, by 26 percent. Dealers said trading has been very difficult this year with worldwide demand declining and Israel struggling to keep its place in the market.

Namibia and De Beers Likely to Agree Diamond Sales Deal Soon - Report

De Beers is putting the final touches to a 10-year diamond sales deal with the government of Namibia, reports.

The deal, which would be the longest to be signed by the sides, will address some of the Namibian government's demands regarding the sale and marketing of the country's diamonds mined by joint venture company Namdeb, according to a briefing posted on its Report to Society 2015 bulletin.

Kimberley Process and OECD to Hold Rough Prices Meeting


The Kimberley Process and the Organisation for Economic Co-operation and Development (OECD) will gather companies, countries and non-profit groups on May 23 for a meeting on rough diamond valuation aimed at reaching a consensus on universal pricing.

Among the firms planning to take part are De Beers and ALROSA, along with representatives of nations including South Africa, Namibia and Botswana, according to a Rapaport report.

De Beers Raising Rough Prices For First Time In More Than A Year


De Beers has raised prices of its rough diamonds for the first time in more than a year due to rising demand.

The mining firm put up prices by up to 2% at its latest sight taking place this week in Botswana according to three people familiar with the process Bloomberg Business reported.

The value of the goods sold is similar to that at De Beers’ February sight in which it sold $610 million of rough diamonds, the report said.

In January, De Beers sold $545 million of rough diamonds at its first sight of 2016.

Lucapa Announces 68-Ct Diamond Find From Trial Mining Operation at Lulo Mine

The Lucapa Diamond Company has announced yet another discovery of an exceptional diamond.

This time, it is a 68.1 carat Type IIa D color diamond from a trial mining exercise at a new area at its Lulo operation in Angola.

The gem was one of eight special diamonds recovered during a trial mining operation at the E46 alluvial terraces, around 10 km upstream from the alluvial Mining Block 8 and 6, from which Lucapa has been producing large diamonds, the mining firm said.

DiaCam360 Launches New Software

After three months of development, DiaCam360 has released a software upgrade, putting its customers at the forefront of diamond imaging technology.

Zimbabwe Making Chinese Yuan Legal Currency

Zimbabwe plans to make the Chinese yuan legal tender in the African country in return for Beijing agreeing to cancel $40 million in debts.

Finance Minister Patrick Chinamasa said the decision follows Zimbabwe's move to increase trade with China.

It's not clear yet how the decision will be implemented, although Chinamasa said use of the yuan “will be a function of trade between China and Zimbabwe and acceptability with customers in Zimbabwe."

Alrosa Forecasts Rough Sales of $3.5 Billion in 2016


The Russian diamond monopoly's Supervisory Board has approved the mining group's budget for 2016.

The firm expects diamond output to come in at up to 39 million carats.

The mining giant said in a statement that its key objectives for its production program next year are to reach the design capacity of the Mir underground mine and put the second start-up complex of the Udachny underground mine into operation in the second half-year.

With Diamonds Running Out, Botswana's Gems Income Uncertain

Botswana has been in the diamond industry news a great deal in recent weeks with discoveries of diamonds, capped by the huge media coverage of a 1,111-carat diamond uncovered by Lucara Diamonds.

However, the country's diamond income looks somewhat uncertain since predictions by analysts suggest the gems will have depleted in 15 years time. 

That would be a considerable blow to the Southern African nation which has financed national development since achieving independence in 1966.

Big Slump in Botswana's Rough Exports In Third Quarter


Botswana posted a 41 percent fall in exports of rough diamonds to $531.9 million in the third quarter of 2015 due to low sales at De Beers sights in recent months.

With zero exports in July, the figure for August was $358.5 million and September exports were $173.4 million, according to the Bank of Botswana.

In the first nine months of this year, exports dropped 23 percent on the year to $2.3 billion.

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