Prices for rough at Grib Diamonds’ most recent sale in Antwerp saw a steep hike as robust demand led to strong bidding.The Belgian company, which sells production from AGD Diamonds’ Grib mine in Russia, garnered $73 million at its January 24 auction. Grib sold 560,000 carats at an average price.
Closing its latest sale in Antwerp yesterday, Grib Diamonds reported selling 560,000 carats of complete mine production from the Grib Diamond Mine, for a total of US$73m. The average price was US$130/ct, up a whopping 35% compared to the recent sales results of the same production by Stargems in Dubai, which achieved US$94/ct just two weeks ago. Grib stated to be pleased with the support of over 300 customers present in the auction, with a record demand of 174 companies placing competitive bids. There were 47 winners and a total of 4,870 bids added.
Reports have emerged that the world’s key diamond suppliers will join forces to establish an association responsible for tackling major industry concerns.
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