U.S. Polished Imports Soar
The U.S. Department of Commerce reported year-on-year statistics for April:
- Polished diamond imports spiked 19 percent to $1.71 billion, led by a 20 percent jump in the price per carat at $1,934.
- Polished diamond exports surged 40 percent to $1.61 billion as the price per carat skyrocketed 47 percent to $1,530.
- Rough diamond imports increased 22 percent to $33 million.
- Rough diamond exports jumped 73 percent to $26 million.
Belgium’s Polished Exports Rise
The Antwerp World Diamond Centre (AWDC) reported May year-on-year data:
- Polished diamond exports rose 8 percent year to $1.27 billion, while the price per carat jumped 13 percent to $1,993.
- Polished diamond imports surged 28 percent to $1.31 billion.
- Rough diamond imports fell 5 percent to $1.05 billion.
- Rough diamond exports increased 6 percent to $1.22 billion.
India’s Polished Exports Surge
India’s Gems and Jewellery Export Promotion Council (GJEPC) reported year-on-year data for May:
- Polished diamond exports rose 43 percent to $1.78 billion. By volume, exports grew 27 percent to 3.262 million carats.
- Polished imports more than tripled to $537 million.
- Rough diamond imports increased 45 percent to $1.64 billion.
- Rough diamond exports grew 15 percent to $134.6 million.
Japan’s Polished Imports Jump
Citing data from the Finance Ministry of Japan, Momozawa reported year-on-year statistics for April:
- Polished diamond imports rose 20 percent year on year to $67.9 million.
- By volume, imports grew 47 percent to 178,280 carats, but the average price of the imports dropped 18 percent to $381 per carat.
Dominion Diamond Sales Fall Slightly
Dominion Diamond Corporation reported that sales fell 1 percent year on year to $108.8 million for the first quarter that ended on April 30, 2013.
- The mining company’s sale of retailer Harry Winston Inc. to the Swatch Group resulted in a net gain of $497.6 million.
- Consolidated rough diamond sales included $88.9 million worth of diamonds from the Diavik mine, at an average price of $114 per carat.
- The company sold $19.9 million worth of high-quality rough diamonds from the Ekati mine for $1,620 per carat during a ten-day period following its acquisition from BHP Billiton on April 10, 2013.
Trans Hex Sales Revenue Flat
Trans Hex reported that sales revenue was flat at $76.9 million (ZAR 751.3 million) for the fiscal year that ended on March 31, 2013.
- Profit fell 69 percent to of $8.7 million (ZAR 85.4 million).
- Production in South Africa fell 20 percent to 67,115 carats, down from 84,409 carats in the 2012. However, the average price per carat was $1,334, up 11 percent from $1,200 per carat in 2012.
- In Angola, production at Somiluana, in which Trans Hex holds a 33 percent stake, decreased 9 percent to 41,313 carats compared with 45,869 carats one year ago. Angolan operations achieved an average price of $352 per carat.
Lucara Raises Sales Projection
Lucara Diamond Corporation raised its guidance for the sale of diamonds from the Karowe mine in Botswana by 5 percent and said that it expects to sell 420,000 carats from the mine in 2013.
- The company anticipates revenue of $118 million for the year, with five sales still scheduled to take place. Viewings are being conducted in both Gaborone and Antwerp.
True North Gems Raises $2 Million
True North Gems Inc. confirmed the partial closing of its second tranche on a previously announced financing arrangement for almost $2.4 million through the sale of approximately 27 million class A shares.
- Proceeds of the financing will advance the development of True North’s Aappaluttoq ruby project in Greenland.
- Shareholders approved True North Gems’ third tranche of the financing, which is expected to take place on or before August 1, 2013.
