Antwerp diamond companies are returning to the hub following the decision of Belgian authorities to weaken the measures of nationwide two-month COVID-19 lockdown, which practically stopped the business in the world's largest diamond trading center, says Reuters.
According to the report, some of the brokers, cutters and couriers return to the Square Mile, the city’s diamond district.
Image credit: AWDC
This comes as two of the world’s biggest gold refiners resume operations after Switzerland relaxed its lockdown measures.
Due to the COVID-19 pandemic the work of most enterprises in the country was completely stopped.
Melissa Smet, executive director of the Syndicate of the Belgian Diamond Industry, was quoted as saying that about 600 trading companies and 90% of diamond cutting enterprises were closed at the Square Mile, which forced most of the 500 diamond cutters to apply for unemployment benefits.
Diamond shipments to Antwerp also went down to just 26 shipments per day due to the closure of diamond mines and lockdowns in other countries.
This reportedly compares to an average of 400-500 shipments per day of powder, rough and polished diamonds totalling some $250 million before the crisis hit, according to Karen Rentmeesters, spokesperson for the Antwerp World Diamond Center (AWDC).
According to the oficial data, Belgium imposed restrictions on March 18 to stop the spread of the new coronavirus, which killed 8,016 people with 50,509 infected.
Alex Shishlo, Editor of the Rough&Polished European Bureau
Melissa Smet, executive director of the Syndicate of the Belgian Diamond Industry, was quoted as saying that about 600 trading companies and 90% of diamond cutting enterprises were closed at the Square Mile, which forced most of the 500 diamond cutters to apply for unemployment benefits.
Diamond shipments to Antwerp also went down to just 26 shipments per day due to the closure of diamond mines and lockdowns in other countries.
This reportedly compares to an average of 400-500 shipments per day of powder, rough and polished diamonds totalling some $250 million before the crisis hit, according to Karen Rentmeesters, spokesperson for the Antwerp World Diamond Center (AWDC).
According to the oficial data, Belgium imposed restrictions on March 18 to stop the spread of the new coronavirus, which killed 8,016 people with 50,509 infected.
Alex Shishlo, Editor of the Rough&Polished European Bureau
