Tell Us More

Share a bit more information with us
to finalize your Free Quote request.

You are looking for information regarding:

2 to 10+ carat
Round Diamond
United States Afghanistan Aland Islands Albania Algeria American Samoa Andorra Angola Anguilla Antarctica Antigua and Barbuda Argentina Armenia Aruba Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia, Plurinational State of Bonaire, Sint Eustatius and Saba Bosnia and Herzegovina Botswana Bouvet Island Brazil British Indian Ocean Territory Brunei Darussalam Bulgaria Burkina Faso Burundi Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Chad Chile China Chinese Taipei Christmas Island Cocos (Keeling) Islands Colombia Comoros Congo Congo, the Democratic Republic of the Cook Islands Costa Rica Cote d'Ivoire Croatia Cuba Curaçao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic East Timor Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Falkland Islands (Malvinas) Faroe Islands Fiji Finland France French Guiana French Polynesia French Southern Territories Gabon Gambia Georgia Germany Ghana Gibraltar Greece Greenland Grenada Guadeloupe Guam Guatemala Guernsey Guinea Guinea-Bissau Guyana Haiti Heard Island and McDonald Islands Holy See (Vatican City State) Honduras Hong Kong Hungary Iceland India Indonesia Iran Iran, Islamic Republic of Iraq Ireland Isle of Man Israel Italy Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Korea Korea, Democratic People's Republic of Korea, Republic of Korea (South) Kuwait Kyrgyzstan Lao People's Democratic Republic Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macedonia, the former Yugoslav Republic of Madagascar Malawi Malaysia Maldives Mali Malta Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Moldova, Republic of Monaco Mongolia Montenegro Montserrat Morocco Mozambique Myanmar Namibia Nauru Nepal Netherlands Netherlands Antilles New Caledonia New Zealand Nicaragua Niger Nigeria Niue Norfolk Island Northern Mariana Islands Norway Oman Pakistan Palestinian Territory, Occupied Panama Papua New Guinea Paraguay Peru Philippines Pitcairn Poland Portugal Puerto Rico Qatar Republic of China Reunion Romania Russian Federation Rwanda Saint Barthélemy Saint Helena, Ascension and Tristan da Cunha Saint Kitts and Nevis Saint Lucia Saint Martin (French part) Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa San Marino Sao Tome and Principe Saudi Arabia Senegal Serbia Serbia and Montenegro Seychelles Sierra Leone Singapore Sint Maarten (Dutch part) Slovakia Slovenia Solomon Islands Somalia South Africa South Georgia and the South Sandwich Islands South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Swaziland Sweden Switzerland Syrian Arab Republic Taiwan Tajikistan Tanzania, United Republic of Thailand Timor-Leste Togo Tokelau Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Tuvalu Uganda Ukraine United Arab Emirates United Kingdom United States Minor Outlying Islands Uruguay Uzbekistan Vanuatu Venezuela, Bolivarian Republic of Vietnam Virgin Islands, British Wallis and Futuna Western Sahara Yemen Zambia Zimbabwe

1990: Canadian Diamond Market Is Open to Worldwide Diamond Investors

April 1999

De Beers announced that it will buy 35% of the production from the Ekati mine, the largest of the new Canadian diamond mines. Ekati is controlled by the Broken Hill Proprietary Co. (BHP) and Dia Met Minerals and is quite a catch for De Beers. With a recent sale price of $120 per carat and a projected full production of 4 million carats annually by the end of next year, Ekati will account for 8.5% of total diamond production world-wide. The agreement is expected to come into effect mid-1999 and will run for a three year period.

The agreement with BHP and Dia Met could not have come at a better time for De Beers. With a disastrous year in 1998, complete with a drop in sales of $3.3 billion leading to a year end 40% drop in earnings and a decrease in dividends by 22%, De Beers was certainly feeling the effects of the 1998 Asian market massacre and the soft diamond market world-wide. Since the beginning of 1999, though, things are looking up for De Beers and for the diamond industry in general. De Beers’ first two sights had excellent results – a rise of 32% from the previous year’s period – but the Company is, understandably, playing that success down. “While the first two sights of the year have been higher than those of 1998, the recovery at this stage is too recent to justify confidence that the market is over its difficulties,” read the most recent report.

On the negative side, Argyle declined to renew with the CSO in ‘96 and now the Namibian government may pull 10% of its production. A new bill is currently being debated in the country’s parliament that may force 10% of all production to be sold on the open market rather than through the CSO. Though the overwhelming share of production from the country comes from the joint company Namdeb, the new laws are worded to force all producers to sell the percentage away from the CSO.

Namibia’s government wants to “test the market,” as Venston Malongo of the Namibian Ministry said. While the bill makes a certain amount of sense – certainly the government should want the highest price for its goods – it may prove to be a case of throwing the baby out with the proverbial bath water. In removing its production from the CSO, even only 10% of it, in these days of such a soft diamond market the plan does not seem sound. Another aspect of the bill looks for part of the rough production to be sold to local cutters, so as to create an industry in Namibia.

Related Articles


Diamond Retailers Look Satisfied With De Beers’ Diamond Marketing Campaigns


Wholesale Diamond Sales Margins at U.S. Diamond Stores


Diamond Board South Africa Aim at Promoting Fair Diamond Deals

WhatsApp chat