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The Patriot on Sunday

The Patriot on Sunday

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The Patriot on Sunday

13 hours ago

The Patriot on Sunday
#sport #backpagethisweek 🔵 HEADLINE: LITMUS TEST FOR MALETE FOR A DETAILED REPORT GRAB A COPY OF THE PATRIOT ON SUNDAY NEWSPAPER IN STORES OR FOR SUBSCRIPTION VISIT: www.thepatriot.co.bw ... See MoreSee Less

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The Patriot on Sunday

14 hours ago

The Patriot on Sunday
#businessfrontpagethisweek HEADLINE: Digital Shift BW disruption BTC LEADS DIGITAL PENETRATION FOR A DETAILED REPORT GRAB A COPY OF THE PATRIOT ON SUNDAY NEWSPAPER IN STORES OR FOR SUBSCRIPTION VISIT: www.thepatriot.co.bw ... See MoreSee Less

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The Patriot on Sunday

16 hours ago

The Patriot on Sunday
#opinionsreviewandanalysis BOTSWANA VIOLATES SADC PROTOCOL ON VOTER REGISTRATION *ADAM PHETLHE ON SUNDAY FOR A DETAILED REPORT GRAB A COPY OF THE PATRIOT ON SUNDAY NEWSPAPER IN STORES OR FOR SUBSCRIPTION VISIT: www.thepatriot.co.bw ... See MoreSee Less

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The Patriot on Sunday

1 day ago

The Patriot on Sunday
SEROWE KGOTLA MEETING FAILDuring a short briefing of media today in Serowe, the Bangwato royal uncles said they took a decision to postpone Serowe Kgotla meeting which was supposed to be held today (Saturday) after consultation with their lawyer.They said they are now taking the legal route to challenge being denied permission to convene meeting at the main Kgotla.A new date is due to be announced soon. Despite postponement, Police took no chance and barricaded the kgotla. ... See MoreSee Less

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The Patriot on Sunday

1 day ago

The Patriot on Sunday
UDC/IEC case requires urgent political interventionThey say desperate times call for desparate measures. Botswana’s desparate electoral situation requires political intervention to end the raging legal tug of war between the UDC & the IEC. It appears the legal festival currently raging in the High Court will not end anytime soon if yesterday's spectacle at the F'town High Court is anything to go by resulting in grave uncertainty as to when the voter registration exercise will commence & whether other phases of the electoral processes will properly fall into place.Political intervention from govt will prevail upon the IEC to withdraw from the case & allow the UDC to observe & monitor voter registration for transparency & fairness. This far, it hasn't come out clearly what harm if any, will UDC’s observation of the voter registration exercise cause. It would have been fulfilling to watch the end product of the legal festival at the High Court & the Court of Appeal. But like they say again, time is of the essence. Much as time for the electoral process to set in motion voter registration has been negatively impacted, no more time should be afforded to be wasted. If the elections date was still far away, I would have no qualms with the festival going on until the very end for obvious reasons.The sad reality is that the elections date is around the corner & voter registration is yet to commence.Govt has a choice to make in the circumstances: Avoid Constitutional crisis in so far as elections are concerned for such will have other legal & political implications for Botswana’s democratic credentials OR, perpetuate it. ... See MoreSee Less

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Home Uncategorized

De Beers raises diamond prices again as buyers keep coming back

Ricardo Kanono by Ricardo Kanono
June 8, 2021
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by Thomas Biesheuvel

BloombergDe Beers has raised some rough-diamond prices by about 10%, as the world’s top producer cashes in on rampant demand from cutters and polishers.

The diamond industry roared back to life in the past six months, after stalling at the start of the pandemic last year. Cutting centers in India and Antwerp have been replenishing supplies after they’d been unable to buy during the worst of the crisis. At the same time, demand jumped amid surprisingly good festive sales.

That’s created an opportunity for the biggest producers to rapidly escalate prices. De Beers has been increasing since the end of last year and was already back to pre-coronavirus levels. It sold more than $1.6 billion in rough gems in its first three sales of 2021, the most since 2018.

The increase at this week’s sale is unusually sharp for De Beers. The miner this week increased the prices for some rough diamonds bigger than 2 carats by about 10%, with other expensive goods rising in high single digits, according to people familiar with the matter, who asked not to be identified discussing private information. The company also raised the prices of some categories of smaller goods.

A De Beers spokesperson declined to comment.

So far, the higher prices haven’t dampened buying from the major cutting centres, whose tradespeople are benefiting in turn from strong consumer demand in the key markets of the U.S. and China.

The speed and strength of the recovery caught many in the industry by surprise. The two biggest diamond miners, De Beers and Russia’s Alrosa PJSC started the year with billions of dollars in surplus stock that they couldn’t sell last year, yet sold nearly all of those stones — as well as the ones they mined — in the first quarter.

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  • Towards a Brighter Tomorrow: India’s G20 Presidency and the Dawn of a New MultilateralismNovember 30, 2023
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