Cover for The Patriot on Sunday
214,354
The Patriot on Sunday

The Patriot on Sunday

A Sunday broadsheet newspaper that focuses on business and politics. It started publishing on Sunday

The Patriot on Sunday

8 hours ago

The Patriot on Sunday
MIKE MOTHIBI AT HIS FINAL RESTING PLACEMultitudes of people attended Veteran journalist Mike Mothibi's funeral in Kanye this morning, with speakers proclaiming the good hard working man he was.He leaves behind three children, one boy and two girls and six siblings - four brothers and two sisters. ... See MoreSee Less

Photo

View on Facebook
· Share

Share on Facebook Share on Twitter Share on Linked In Share by Email

The Patriot on Sunday

9 hours ago

The Patriot on Sunday
Who will be on the Court of Appeal bench to hear & determine IEC appeal against UDC? *ADAM PHETLHE It is generally agreed that the case between Umbrella for Democratic Change (UDC) and the Independent Electoral Commission (IEC) is that of exceptional public importance. As a consequence, the case has so far generated a lot of public interest in terms of looking at all its optics. I predict exceptional public interest will continue way beyond the conclusion of the case. So who amongst the present Justices of Appeal will make the cut? It is difficult to say with a measure of certainty who will make the cut but to predict. Depending on the number of Justices required for this expedited appeal, I predict the following to make the cut. Justices Tebogo Tau, Isaac Lesetedi, Mercy Garekwe, Lackvinder Singh & Leatile Dambe. Former South Africa Constititional Court Justice Bess Nkabinde could also make the cut. All the above local Justices have sat on the bench in high profile cases notably last year's DIS appeal with respect to the search warrant for State House 4, the 'contested' official residence of former President Khama. In this case where there were 5 Justices, Justices Tau, Lesetedi & Singh ruled against the DIS while Justices Garekwe & Dambe dissented. It is my belief that Justices decide matters based on what evidence/facts are before them. That some ruled this or the other way in previous cases is, for lack of a better word, inconsequential. The Chief Justice has sat on some appeal cases I have had sight of. I think he will be disqualified in this one because he is party to an application on another leg of the UDC/IEC case. It will be interesting to see if Justice Tau will make the cut owing to a comment she made when delivering judgement on Wednesday with respect to IEC's request to have its appeal expedited. That comment (and I am paraphrasing) had to do with the intrusive nature UDC’s observers would cause if allowed to observe & monitor voter registration exercise. I believe this comment has already rendered her conflicted to sit in the upcoming appeal proceedings. Time will tell as to who will be on the bench when the appeal proceedings begin on Monday 11 December 2023. Or, will it be new faces? ... See MoreSee Less

Photo

View on Facebook
· Share

Share on Facebook Share on Twitter Share on Linked In Share by Email

The Patriot on Sunday

11 hours ago

The Patriot on Sunday
#Available IN STORES #grabyourcopy #frontpagethisweek Main Headline: KHAMA OR BOKO?♦️ BPF prefers Khama as UDC chief campaigner 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

Photo

View on Facebook
· Share

Share on Facebook Share on Twitter Share on Linked In Share by Email

The Patriot on Sunday was live.

1 day ago

The Patriot on Sunday
5TH KUSI IDEAS FESTIVAL UNDERWAY AT ROYAL ARIA IN TLOKWENG.#ikanyerona#mindsetchange#kgasoyapopota ... See MoreSee Less

Video

View on Facebook
· Share

Share on Facebook Share on Twitter Share on Linked In Share by Email

The Patriot on Sunday

2 days ago

The Patriot on Sunday
Good bye MikeMesh Moeti bids his friend Mike Mothibi farewell. ... See MoreSee Less

Video

View on Facebook
· Share

Share on Facebook Share on Twitter Share on Linked In Share by Email

  • Towards a Brighter Tomorrow: India’s G20 Presidency and the Dawn of a New MultilateralismNovember 30, 2023
    Prime Minister of India Narendra Modi Today marks 365 days since India assumed the G20 Presidency. It is a moment to reflect, recommit, and rejuvenate the spirit of ‘Vasudhaiva Kutumbakam, ‘One Earth, One Family, One Future.’ As we undertook… Read more: Towards a Brighter Tomorrow: India’s G20 Presidency and the Dawn of a New Multilateralism
  • BNF get 15 UDC constituencies November 29, 2023
    BAKANG TIRO editors@thepatriot.co.bw The first phase of constituency allocation between Umbrella for Democratic Change (UDC) and its negotiating parties, Botswana Patriotic Front (BPF) and Alliance for Progressives (AP) has seen Botswana National Front (BNF) emerging as the biggest winner… Read more: BNF get 15 UDC constituencies 
  • BHP launches Tshireletso StudyNovember 28, 2023
    . Long-Acting Injectable Cabotegravir for HIV prevention in newly delivered mothers in Botswana The Botswana Harvard Health Partnership (BHP) has today launched the ‘Tshireletso’ Study which is offering long-acting injectable cabotegravir (CAB-LA) to post-partum women immediately after delivery to… Read more: BHP launches Tshireletso Study
  • Orange Botswana CEO, Nene Maïga, Wins Female Innovator of the Year Award November 24, 2023
    Orange Botswana celebrates the business’ CEO, Nene Maïga, on her prestigious Female Innovator of the Year Award 2023, received at the Africa Tech Festival Awards in Cape Town, South Africa. This distinguished accolade recognises the exceptional contributions of women in the fields of technology, media, and telecommunications… Read more: Orange Botswana CEO, Nene Maïga, Wins Female Innovator of the Year Award 
  • Govt’s P1.4billion Tati land headacheNovember 23, 2023
    BAKANG TIRO editors@thepatriot.co.bw The 45 000 hectares of land recently acquired by Botswana government from Tati Company to the tune of P1.4 billion, will address acute land shortage in Northeast district, the Minister of Lands and Water Affairs (ML&WA),… Read more: Govt’s P1.4billion Tati land headache
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
  • Login
  • Register
Saturday, December 9, 2023
17 °c
Gaborone
21 ° Tue
22 ° Wed
24 ° Thu
26 ° Fri
The Patriot On Sunday
Advertisement
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
Cart / $0.00

No products in the cart.

  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
The Patriot On Sunday
No Result
View All Result
Home Business

‘Demand for smaller, lower-end diamonds stabilises’

patriot by patriot
January 25, 2021
in Business
237
0
491
SHARES
1.4k
VIEWS
ShareShareShare

… Leading to a 10 % jump in sales

The De Beers Group recently announced a sales rise of 10 percent across its rough diamond sales operation since mid-2018.

A report from Rapaport reveals that sales rose 10 percent year on year to USD 575 million in the third sales cycle of the year, including a recent sight in Botswana. “The figure was 16 percent higher than the USD 496 million it sold in the previous cycle,” continues the report.

De Beers Global Sightholder Sales in Gaborone saw a continuation of stable demand for rough diamonds in Cycle 3.

The demand was pushed forward by the market’s absorption of the smaller, lower-end diamonds. The Group had before the upsurge in demand, experienced a challenge with low demand for the Melee diamonds.

In November 2018, Rapaport alluded to a crisis in the small diamond market in the article ‘A crisis in Melee’, outlining the standout trends that had taken shape in the diamond trade for the year. At the top was the poor performance of small and cheaper stones.

“But the drop in the so-called melee market has not been sudden. Supply levels in the midstream were high during the 2008 financial crisis and have remained so since,” reads part of the article. It continues to state that inventory climbed significantly in 2017 as three new mines came on stream, leaving the market with an excess of available goods, leading to upwards of 20 percent drop in melee diamonds sales in 2018.

Though oversupply was one of the causes of the slump, the report revealed three other factors believed to have influenced the weakness in the melee market. One such was the liquidity in India which had tightened as banks had become more cautious in their lending to the industry as well as the sharp depreciation of the rupee in the same year. The third contributing factor was the advent of the wider acceptance of lab-grown diamonds.

Perhaps one of the contributing factors was the fact that some retailers were shying away from natural melee because of the threat of undisclosed synthetics as well as the element that a small but growing preference to use better-quality lab-grown melee rather than lower-quality natural stones that cost the same was had caught hold.

The De Beers outfit in Botswana, responding to questions from this publication last week explained that the recent growth spurt in Cycle 3 was an effect of the stabilisation in demand for the small diamonds.  “We would expect over time that the recent challenges in this area would work out as the situation gradually normalizes,” it states.

Before the latest report, revenues were down 11% to $1.57 billion year-on-year for the first three sales cycles, with disappointing holiday retail sales and weakness in the Indian manufacturing market resulting in lower-than-usual demand at the first two sights.

The first quarter is usually one of the busiest periods of the year for the rough market as dealers and cutters replenish goods after the holidays.

“Last week’s April sight was the last of the current sales period, known as an intention to offer (ITO). De Beers will inform sight holders of their rough-diamond allocations for the new ITO ahead of the next sight, which begins May 13,” noted the office. The miner expects to reduce its rough supply to sight holders during the new ITO, as production is set to fall this year.

De Beers Group stated said the value of sales in any particular cycle is in part a reflection of how much of their annual allocation customers have planned into that cycle as well as factors such as the amount of demand that has been expressed over a longer period and the prevailing levels of inventory across the diamond pipeline and downstream demand for diamond jewelry.

Asked whether they anticipated the growth, the Group responded that, “Sales in Cycle 3 were broadly in line with expectation…”

They could not be brought to disclose how much of the Botswana diamonds contributed to the growth as the De Beers Group sells mainly aggregated production from mines in each of the producer partner countries in which it operates. These are Botswana, Namibia, South Africa and Canada.

“It is therefore not possible to state precisely which country of origin any share of sales came from,” was the response, continuing that, however, production from Botswana represents around two thirds of De Beers Group’s overall supply. 

On what the increase in sales indicated to the company, they said Cycle 3 sales levels showed continued stability in demand for De Beers Group rough diamonds.

Going into the future, De Beers Group continues to invest across its operations to ensure long-term future success of demand for natural diamonds, from major investments in production capacity expansion, such as with Cut-9 at Jwaneng mine, to rough diamond distribution efficiency as well as major downstream consumer marketing initiatives.

Related

Tags: diamond

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
  • Towards a Brighter Tomorrow: India’s G20 Presidency and the Dawn of a New MultilateralismNovember 30, 2023
    Prime Minister of India Narendra Modi Today marks 365 days since India assumed the G20 Presidency. It is a moment to reflect, recommit, and rejuvenate the spirit of ‘Vasudhaiva Kutumbakam, ‘One Earth, One Family, One Future.’ As we undertook… Read more: Towards a Brighter Tomorrow: India’s G20 Presidency and the Dawn of a New Multilateralism
  • BNF get 15 UDC constituencies November 29, 2023
    BAKANG TIRO editors@thepatriot.co.bw The first phase of constituency allocation between Umbrella for Democratic Change (UDC) and its negotiating parties, Botswana Patriotic Front (BPF) and Alliance for Progressives (AP) has seen Botswana National Front (BNF) emerging as the biggest winner… Read more: BNF get 15 UDC constituencies 
  • BHP launches Tshireletso StudyNovember 28, 2023
    . Long-Acting Injectable Cabotegravir for HIV prevention in newly delivered mothers in Botswana The Botswana Harvard Health Partnership (BHP) has today launched the ‘Tshireletso’ Study which is offering long-acting injectable cabotegravir (CAB-LA) to post-partum women immediately after delivery to… Read more: BHP launches Tshireletso Study
  • Orange Botswana CEO, Nene Maïga, Wins Female Innovator of the Year Award November 24, 2023
    Orange Botswana celebrates the business’ CEO, Nene Maïga, on her prestigious Female Innovator of the Year Award 2023, received at the Africa Tech Festival Awards in Cape Town, South Africa. This distinguished accolade recognises the exceptional contributions of women in the fields of technology, media, and telecommunications… Read more: Orange Botswana CEO, Nene Maïga, Wins Female Innovator of the Year Award 
  • Govt’s P1.4billion Tati land headacheNovember 23, 2023
    BAKANG TIRO editors@thepatriot.co.bw The 45 000 hectares of land recently acquired by Botswana government from Tati Company to the tune of P1.4 billion, will address acute land shortage in Northeast district, the Minister of Lands and Water Affairs (ML&WA),… Read more: Govt’s P1.4billion Tati land headache
The Patriot On Sunday

© 2022 Copyright The Patriot On Sunday - Inspired by Search Mart.

Navigate Site

  • About Us
  • Advertise
  • Disclaimer
  • Contact Us

Follow Us

No Result
View All Result
  • Login
  • Sign Up
  • Cart
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders

© 2022 Copyright The Patriot On Sunday - Inspired by Search Mart.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?