Artisanal Diamonds from DRC Sell Above Estimate in Antwerp

A recent sale of artisanally mined rough from the Democratic Republic of Congo (DRC) achieved $66 per carat in Antwerp, above its expected price.

The auction, which the Antwerp World Diamond Centre (AWDC) held for the first time through the OrigemA program, included 103.77 carats of traceable diamonds, the organization said Monday. The estimated market value for the diamonds was $6,000, or $58 per carat.

OrigemA is a collaboration between Belgium and the DRC, which the AWDC initiated to support the artisanal-mining cooperatives with access to the international market. The funds contribute to the ongoing development of the diamond mines and support essential sectors such as agriculture, health care, and education.

“The prices achieved in this sale once again confirm Antwerp’s unique position as a global trading hub for rough diamonds,” said AWDC CEO Karen Rentmeesters. “The presence of a large pool of international buyers creates maximum competition, resulting in the best possible market price for the goods.”

The results prove that the global industry can support artisanal producers, the executive observed. The AWDC hopes that expanding the OrigemA program will help other miners, by bringing diamonds to the market via Antwerp. This will ensure that more value reaches the local communities in the DRC, where the diamonds are sourced, Rentmeesters added.

Image: A dealer evaluating OrigemA diamonds through a loop. (Antwerp World Diamond Centre)