Profit polishers companies in January were under pressure amid falling prices for diamonds, but the continuing strong demand for rough diamonds. Diamond trade took care after a disappointing jewelry sales in the holiday season in the United States. Good performance of the diamond market was due to expectations regarding the fact that jewelers will restock products sold during the holiday season.
Diamond Index RapNet (RAPI) for 1-carat stones fell by 0.9% in January and decreased by 6.8% compared to the same period of the previous year.
According to the monthly report of Rapaport in February 2017, is projected to increase the supply of diamonds in the first quarter of this year after a surge in demand for diamonds.
Cutters finished last year with a low volume of stocks, reducing production to the Indian festival of Diwali, and now increasing their operations to meet expected growth in diamond trade.
In January, De Beers sold diamonds for $ 720 million, which is the largest site with miners in July 2014. Prices within the last trade grew by an average of 2% - 3%.
Almazdobyvayuschie companies are preparing for a higher demand for diamonds this year and increase production. In 2016, world production of diamonds remained unchanged. The fall of Alrosa and De Beers production was offset by an increase in its companies Rio Tinto, Dominion Diamond Corporation and Petra Diamonds. The Rapaport expect global production of diamonds will increase by 5% - 10% this year, taking into account the introduction of new mines into operation and expansion of mining programs.
It is expected that diamond suppliers will resist the request of customers to get a discount on the finished diamond products following the increase in raw material prices. This practice, however, could come under pressure amid increasing supply. Representatives of the diamond industry should be cautious, as in 2016, to demand and stability in diamond prices could persist in 2017, is believed to Rapaport.
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Mining companies with expired licenses still continue to work in the diamond fields in Marange region Zimbabwean (Marange), according to IDEX Online.
According to Deputy Minister of Mines and Mining Development Fred Moyo (Fred Moyo), only those firms that have a valid license, must continue its activities in this area. Diamond-mining companies in the country are now combined into one large firm.
Now seven diamond companies operating in Marange: Mbada Diamonds, Anjin, Marange Resources , Gye Nyame, Kusena, Jinan and Diamond Mining Company (DMC).
Moyo did not disclose the names of companies that have expired license.
Among the close on the news - Newsday reported that two illegal diamond prospectors drowned in Chiadzwa region after jumped from the dam, trying to avoid capture by employees DMC protection service.
According to the Research and Development Center (Centre for Research and Development, CRD ), the organization that documents human rights violations in Chiadzwa area, miners noticed when they were looking for diamonds in the concession area of the DMC.
"The guards opened fire and finders of diamonds, fearing the rapid response team, began to run. Three of them, trying to escape, jumped down from the dam. Two drowned and one survived, "- said the organization.
The organization told Newsday that called on the government to stop production in order to allow for the necessary legal procedures, which will form the basis for transparency and accountability in the diamond fields of production that is ignored by the government.
"In fact, the differences come from the uncertainty created by the government in the diamond fields, which resulted in the strengthening of artisanal syndicates, bringing together officials of the mining companies and the illegal diamond seekers, because of what and people are dying," - said the organization.
"Really sad when people lose their life in such a way, - the Marange Development Trust. - On behalf of the local community, we urge the Government to find durable solutions for Marange diamonds are obviously beneficial to all stakeholders, including local communities. "
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