Rising US demand for diamonds, Alrosa plans stubborn

Mining company Anglo American achieved rough diamond sales of $650 million (A$942.58 million) in the fifth cycle of 2022.

The Anglo American report points to an increase in demand, particularly from the United States. The report was based on interim sales results from the fifth cycle (June 6-21), highlighting a 36% increase from the same cycle in 2021.

This period had sales of US$477 million ($691.71 million).

The estimated sales figure is also higher than the actual sales results for the fourth round (May 2-17) of $604 million (A$875.87 million).

Bruce Cleaver, Group CEO of De Beers, said: “Diamond jewelery demand continues to perform well in the key US market, and this has been reinforced by positive sentiment following the influential trade show. of the JCK Las Vegas jewelry store held in mid-June.

The gradual reopening of retail stores in China due to the easing of containment measures and health restrictions related to COVID-19 also contributed to the increase in demand for diamonds during the sales cycle.

Anglo American achieved its best sales results yet with US$660 million (A$957.08 million) in rough diamond sales in the first sales cycle of 2022.

Alrosa maintains its production forecasts

Meanwhile, Russian mining company Alrosa maintains its 2022 production forecast of around 34-35 million carats of rough diamonds, as reported Interfax.

Sergey Ivanov, CEO of Alrosa, said: “I think we are on the right track and so far, despite some difficulties, we are working exactly as planned in the first half, somewhere in this range.”

“We do not expect to lower production in the second half. The capacity is used and the investment program is carried out,” he added.

Ivanov also said the company will soon reopen the Mir mine in Siberia, noting the positive results of the feasibility study and analysis of the project indicating that “its parameters are good”.

Record auction results for rubies

London-based emerald and ruby ​​mining company Gemfields reported record ruby ​​revenues in its latest round of mini-auctions conducted between May 30 and June 17.

The total revenue generated from the seven tenders is $95.6 million (A$138.63 million).

A total of 387,681 carats of rubies were sold at an average price of US$247 (AU$358.18) per carat, nearly double the value of US$132 (US$191.4) per carat during the previous round of auctions in December 2021.

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Sarah C. Figueiredo