Sunday, April 21, 2024

Fusion Tenders completes successful KAO rough diamond tender

Fusion Tenders, in cooperation with I. Hennig & Co., said this week it successfully tendered results of production from Namakwa Diamonds’ KAO mine in Lesotho.

All 51 lots offered, totalling 14,495 carats, were sold by sealed bid tender at an average price of $286/ct per carat. This sale follows the 100 percent sell-through rates achieved in the previous two KAO mine tenders held in Antwerp.

Fusion Alternatives CEO Adam Schulman, said, “We are very pleased to have yet again achieved a successful sale of the KAO mine production in Lesotho. Once again, under challenging market conditions we have proven ourselves capable of achieving excellent results.”

Commenting on the tender results, Arik Sela, Hennig’s MD noted that “the KAO tender in Antwerp has continuously achieved exceptional results. This is a direct reflection of the quality of the bidding companies as well as the good match between their areas of expertise and the footprint of the KAO mine production.”

Commenting, Theo Botoulas, Chief Executive Officer of Namakwa Diamonds, said: “Our third tender in Antwerp, like the first two, achieved a 100 per cent sell-through and prices ahead of initial expectations even in today’s challenging markets. Since January 2012, we have now sold a total of 87,011 carats from Kao Mine production in eight tenders, generating US $24.6 million in revenues for the Company.”

Fusion Alternatives is a forward-thinking and innovative company providing strategic services to the diamond, jewellery and affiliated industries. Fusion Alternatives is the leading specialist in operating international Diamond Tenders.

I Hennig & Co. Ltd, the distinguished international diamond brokerage firm, is renowned for offering brokering, consultancy and the widest range of relevant services to all components of the diamond industry pipeline. Established in 1890, with a strong focus on brokerage between its clients (the world’s leading diamantaires) and the De Beers Family of Companies, Hennig, and its network of group companies also provides a suite of services to the industry.

These include, amongst others, solutions for rough diamond procurement from primary and secondary sources; outsourcing diamond polishing and factory management; marketing and sale of rough and polished diamonds, upstream and downstream integration consultancy and diamond investment tools.
Working together, Hennig and Fusion have the ability to offer turnkey solutions that include diamond valuing, assorting, tendering, and client selection.

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