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Economics
Economic Bulletin
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.
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.
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- 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.
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 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 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 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 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.
Article from the Rapaport Magazine - July 2013. To subscribe click here.
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