De Beers and its clients expect a slowdown in rough-diamond sales at the company’s Botswana sight this week amid concerns about the coronavirus. “It’s fair to say there will be an impact on rough demand in the short term,” De Beers chief financial officer Nimesh Patel said Thursday in an interview with Rapaport News. “I’d expect … Read more
De Beers plans to abandon its practice of using sightholders’ purchase history as the main factor in determining how it allocates rough supply, sources have told Rapaport News. The move, which would go into effect from 2021, would see the miner shift to more subjective criteria for deciding the value of goods each client receives. The … Read more
Anglo American’s De Beers, the world’s No.1 diamond miner by value, said on Wednesday that its last roughs sale of the year fetched $425 million, a slight improvement from the $400 million it obtained in the previous tender, but still over the year a whopping $1.4 billion less than in 2018. The figure is also 20% lower than … Read more
The vessel, which has an expected total capital cost of US$468 million, will be the seventh in Debmarine’s fleet. It is expected to start production in 2022 with the capacity to add 500,000 carats of annual production, a 35% increase above current levels. De Beers CEO Bruce Cleaver said some of the highest quality diamonds … Read more