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DiaMondaine Diamantaires Club (DDC) is set to organise diamond safari tours in southern Africa, home to major diamond-producing countries. DDC founder Agnes Abdulahu told Rough&Polished’s Mathew Nyaungwa that the launch of the first diamond safari...

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Why it's expensive to cut and polish diamonds in Africa? ADMA president António Oliveira has the answer

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Edahn Golan: IPO feasible but not Anglo’s preferred way to sell De Beers

Edahn Golan, owner of the eponymous Edahn Golan Diamond Research and Data, told Rough&Polished's Mathew Nyaungwa in an exclusive interview that while an IPO of De Beers is “feasible,"  he does not think this is a route Anglo American...

17 june 2024

GemsCouture- avant-garde by Victor Moiseikin

Jewelry items and precious souvenirs of the MOISEIKIN jewelry brand are in the museums and private collections of world celebrities, representatives of the political and cultural elite - from Xi Jinping to the British Windsors, from Angela Merkel to...

05 june 2024

Petra brings forward tender sales, diamond prices 16-18% lower

06 october 2023

Petra Diamonds brought forward its second tender sales for the fiscal year 2024 in response to the recently announced two-month moratorium on diamond imports to India commencing on October 15.

The company sold 344,554 carats, representing about 75% of the total tender volume, realising $30.2 million at an average price of $88 per carat.

It said the prices recorded were 16 to 18% lower than prices achieved in the first tender of the fiscal year 2024 on a like-for-like basis, reflecting prevailing market weakness.

It said the steps taken by major producers to curb supply to the market and the two-month Indian moratorium are expected to bring some much-needed stability and support to the market and in turn prices.

“In the medium to longer term, we continue to expect prices to benefit from the structural supply deficit,” it said.

Petra said the sale of the remaining 25% of the volume of the second tender is scheduled to close on or around 11 October 2023.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished