The Minister of Finance of Namibia Shlettveyn Calle (Calle Schlettwein), is reported to have confirmed that Namdeb Diamond Corporation (Namdeb), exploration and diamond mining company which is also a joint venture between the government and De Beers, has found further deposits of diamonds, according to DIB Online.
New diamond deposits found in the further construction of the protective seawall near the ground Namdeb mining operations, is expected to extend the life cycle of surface mining works for another 50 years. This Shlettveyn said in an interview with Bloomberg.
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In December, the mood on the diamond market has improved since the lack of certain types of stones supported prices while dealers make emergency Pre orders, according to a press release Rapaport. The first reports on the results of jewelry sales in the US are positive in the holiday season. Retail sales as a whole increased by about 8%, with online and mobile sales have increased by 50-60%. However, the purchase of diamond dealers and retailers are still very limited due to the uncertainty about the post-holiday demand in the US market and the activity of the Chinese New Year.
Diamond indicator index RapNet Diamond Index (RAPI) for GIA certified odnokaratnikov increased by 1.5% in December. RAPI for diamond weighing 0.3 carats increased by 4.7%, and 0.5 for stones weighing carats - 3%. The index figure for the 3-carat diamonds dropped by 0.1%.
For the entire 2015 RAPI for odnokaratnikov decreased by 5.8%. An index reading for the stones in the 0.3 carat decreased by 13.4%, while for the diamonds of 0.5 carats, it has fallen by 14.5%. The index value for the diamonds of 3 carats, declined by 14.5% in 2015.
The monthly report Rapaport (Rapaport Monthly Report) notes that there is a shortage of certain types of diamonds, because suppliers are gradually sold off stocks more stones of good quality, and manufacturers have limited edition of diamonds from the high rough prices.
Enterprises cutters in India after a break in the celebration of Diwali in November returned to work at about 30% below capacity. De Beers and Alrosa in the fourth quarter remained stable in rough diamond prices, but both companies reported that for the year, diamond prices have fallen by 15%. According to the Rapaport estimates, in 2015, sales from De Beers diamonds fell 45%, to about $ 3.6 billion, and in the second half of the year fell by 70%.
Sightholders are waiting for the next site (Jan. 18-22) De Beers will reduce prices by 5-7%. That demand for rough diamonds is expected to increase as the cutters increase diamond production to eliminate the deficit in the market. However, the purchase of diamonds, are expected to remain below the levels seen in previous years.
Dealers are not convinced that the support of the diamond market will continue to supply shortages or that trade will spur demand in an environment where retailers will buy stones instead sold during the holiday season. In addition, while in the East the demand rose in anticipation of the Chinese New Year (February 8), the mood remained cautious because of the economic slowdown and the Chinese government's measures to fight corruption. 7 percent decline on the Shanghai Stock Exchange also fueled caution occurred on January 4.
Branch has been hard in 2015 on a positive note. To maintain the momentum, the trade will be necessary to achieve profitability at lower prices, and diamond prices should be supported by higher consumer demand.
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