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Trans Atlantic Dubai Tender Grosses $46M

Dec 13, 2018 3:23 AM   By Rapaport News
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 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)
Tags: Dubai, Rapaport News, TAGS, Trans Atlantic Gem Sales
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