Monday, January 17, 2022

Large and exceptional diamonds improve market performance

Lucara Diamonds Sales and Marketing Operations Manager, Steve Lincoln, says due to regular recovery of large and exceptional diamonds averaging 50 to 60, 000 carats (cts), 378 companies have participated in all tenders.

Participants by country included Belgium (191), Botswana (6), China (5), India (15), Israel (65), South Africa (11), Switzerland (4), United Arab Emirates (6), United Kingdom (3) and USA (13).

Lincoln said according to Bonas Diamond Brokers and Consultants, the first two sales in May and July 2012 were conducted in Botswana only.

In the system of dual viewings held in Gaborone, Botswana and Antwerp, Belgium from September 2012, 23 Lucara sales have been conducted to date, of which 21 were under a dual viewing system.
For almost 140 years, Bonas has been instrumental in helping clients understand and manage change in the diamond industry. Established in London during the great South African diamond rush of the 1870’s, Bonas is the longest established and most eminent Diamond Broking and Consultancy firm in the world.

Now in its fifth generation, Bonas continues to deliver value for its customers from its worldwide network in every major diamond centre, including Antwerp, Dubai, Gaborone, Hong Kong, Johannesburg, London, Mumbai, New York and Surat.The Sales and Marketing Operations Manager says:“Regular and exceptional stone tenders from the Karowe Mine full run of the mine (ROM) production has seen the recovery of diamonds averaging 50 to 60, 000 cts, including10.8ct single stones higher percentage of Type IIA. Exceptional stone tenders involve diamonds of exceptional value, appealing to industry specialists. In 2012, Karowe recovered 5 regular stones and no exceptional; in 2013 and 2014 there were 7 regular and 3 exceptional year-on-year.”

Tender participation in the Karowe production has benefitted from a regular following. For instance, 140 to165 companies are participating in 15 or more tenders broken downs as follows: 43 in 10 to 14; 54 in 5 or more; and 185 or 85 percent have actually placed bids.

Current statistics show that 184 different companies have won one or more parcels across all sales.
“On average, and across all sales since 2012, we have around 35 to 40 different companies winning one or more parcels at each sale.

Large and exceptional stones including fancy tendered to date total 7.1 cts valued at US$ 209,3 million at an average of $29, 500 per ct.

RELATED STORIES

Read this week's paper