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Guinea Mine Fetches $2M at Antwerp Rough Tender

Jul 9, 2012 5:36 AM   By Avi Krawitz
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RAPAPORT... The first tender of rough diamonds from the Guinea-based Guiter mine fetched $2.2 ‎million in Antwerp this past week. All 26 lots placed on offer were sold with 5,724 carats achieving an ‎average of $392 per carat.‎ Guiter was formerly known as the Aredor mine, which recently resumed production after 10 years of laying dormant.‎

‎“We hope to see volume grow as we develop our mining activities in Guinea,” said ‎Ansoumane Kaba, the president director general of Guiter. “The production from Aredor is ‎back in the market and despite the current weakness of the market, we are happy with ‎the prices we achieved.”‎

The tender, which took place on July 4 and July 5 was conducted by Fusion Alternatives in cooperation with I. Hennig & Co. Lots included ‎goods ranging from -9 and +11 to 3 grainers, 4 grainers and 8 grainers to 3-carat to 5-carat stones, with ‎approximately 41 stones being above 5 carats, and a 7-carat vivid yellow diamond.‎

Ari Epstein, the chief executive of the Antwerp World Diamond Centre, stressed that the new Guiter supply tendered in Antwerp reinforces the city’s position as ‎the world’s main hub for rough trading.‎

Adam Schulman, the chief executive of Fusion Alternatives, added, ‎“We are pleased to have been chosen by Guiter as their preferred partner to market their ‎goods in Belgium, and we see this result as a further endorsement of our high levels of ‎service to the diamond industry.”
Tags: Antwerp, Avi Krawitz, AWDC, diamonds, Fusion Alternatives, Guinee, Guiter Mine, Rough Diamonds
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