Bank of Namibia’s Warning on US Diamond Tariffs
Namibia’s diamond industry may be pushed into deeper crisis if United States (US) president Donald Trump pushes ahead with implementing an export tariff of 21% on Namibia.
De Beers Jewellers
Bringing over 130 Years of Diamond Expertise to Modern Grading
Confidence is the “fifth C” of the diamond sector and its role has rapidly gained increased importance at every touchpoint of a diamond’s journey. Customers, suppliers, financiers and end consumers all have a rightfully heightened demand of assurance when it comes to diamonds. With more than 130 years of experience as a leader in the … Read more
De Beers Prices Up 14% Since Start of Year
De Beers’ rough prices spiked in the first half of 2021 as supply shortages coincided with buoyant diamond demand at the trade and retail levels. The miner’s price index rose 14% during the six months, reflecting “tightness in inventories across the diamond value chain, as well as positive consumer demand for polished diamonds,” parent company … Read more
De Beers Raises Prices of Larger Diamonds
De Beers increased prices of goods above 2 carats at this week’s sight as shortages of rough coincided with strong polished demand. Prices rose around 5%, and more in some categories, market insiders told Rapaport News on Monday. Near-gem items also saw significant increases, while prices for other stones under 2 carats were either stable … Read more
De Beers Sight Sees Strong Demand, Low Supply
Rough-diamond demand was robust at this week’s De Beers sight despite the ongoing Covid-19 crisis in India, customers reported. Manufacturers snapped up the limited supply in anticipation of rough shortages, sources told Rapaport News. Sales will still be 10% to 25% lower than the previous cycle in March because of reduced availability, they estimated. That … Read more
De Beers Posts First Loss Since 2009
De Beers recorded its first annual loss since the aftermath of the global financial crisis as rough sales and prices slumped during the Covid-19 pandemic. The miner’s underlying loss came to $102 million in 2020, compared with a profit of $45 million in 2019, parent company Anglo American reported Thursday. De Beers had not been … Read more
De Beers Taps Into Unexpected Natural Wonders For New Collection
In celebration of the natural beauty of the countries from which its diamonds are produced, De Beers Jewellers has introduced Reflections of Nature, the venerable house’s latest collection in the stratospheric world of high jewelry. The dazzling collection features five sets Okavango Grace, Motlatse Marvel, Namib Wonder, Landers Radiance and Ellesmere Treasure with a total of … Read more
De Beers Sales Hit Three-Year High
De Beers’ rough-diamond sales soared to $650 million in January, its highest for any month since 2018, as manufacturers replenished inventory following the holiday season. The total was 18% more than the $551 million the miner garnered a year earlier, and 44% above the $452 million it reported in December, De Beers said Wednesday. This … Read more
De Beers says recovery to Extend – Well Beyond 2020
The diamond sector’s rebound from the Covid-19 crisis will feature ups and downs that will continue into next year at least, De Beers predicted. “The demand recovery is not expected to be linear, particularly as localized lockdowns take place,” De Beers explained Monday in its annual Diamond Insight Report. “Retailer expectations for the second half … Read more
Covid-19 Ravages De Beers Sales
De Beers’ sales and production nosedived in the second quarter as the coronavirus crushed diamond demand throughout the pipeline and forced shutdowns at several mines. “Demand for rough diamonds was significantly impacted by a combination of Covid-19 restrictions [affecting] consumer demand and access to southern Africa, as well as severely limited midstream cutting-and-polishing capacity due … Read more