Trans Atlantic Dubai Tender Grosses $46M

RAPAPORT… Trans Atlantic Gem Sales (TAGS) sold $46.4 million worth of
rough diamonds during a tender in Dubai in late November and early December, it
said Wednesday.



The company sold 97,841 carats of high-quality stones from
mines in South Africa and Angola for an average price of $474 per carat. The
company extended its final bidding deadline due to strong interest, it said.


“Through 2019 we anticipate a sustained supply of…production,
which will provide our customers with a regular and meaningful volume of
high-quality rough, to form an important component of manufacturers’ monthly
production programs,” a TAGS spokesperson noted.


Some 168 clients attended the tender, the company’s 10th and
final sale this year.


TAGS facilitates rough auctions and tenders on behalf of
diamond producers, operating out of sales offices in Antwerp, Cape Town and
Dubai.


Image: Rough diamonds. (Trans Atlantic Gem Sales)