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Home ยป Blog – The Diamond Blog ยป WITH EMERGENCY TRAVEL RESTRICTIONS IN PLACE, DIAMOND MINERS LOOK FOR SOLUTIONS
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According to statement released earlier this week by Russian diamond producer Alrosa, the company is considering options for online trade. Fortunately, it had already tested a system of digital tenders last October,ย and reported at the time that clients were interested in such a format.ย ย
“We are in constant contact with our clients from different countries, considering the possibility of providing them with measures of support over the next months, exploring the possibility of remote trade, which does not involve the traditional visit of an expert to study the stones,” it said.
Nonetheless, Alrosa said that there has only been a minimal direct effect on trade, because it sells most of its diamonds to long-term clients.
AT PRESENT, DE BEERS SIGHTS TO CONTINUEย
For its part, De Beers said that it is moving forward with its next sight in Botswana, which is due to begin March 30.
This, it said, is despite travel bans on nationals from China, India and Belgium.
โOur intention remains to hold the sight, in line with the desire for it go ahead expressed by customers, but we are developing a suite of contingency plans in the event that it is not possible to hold the sight in the usual manner,โ the company stated.
ย Reportedly, the plans could include having local representatives of buyers attend the sight or by holding a โblind sight,โ which means buyers will not see the goods they are buying.
Preparing rough diamond for sale at Alrosa.
In a letter sent this past week to clients, De Beers CEO Bruce Cleaver wrote the โdespite the challenged experienced by most businesses, our team will be working with each of you to meet your supply needs and provide maximum flexibility โ for those who require rough diamonds and those who donโt.โ
Cleaver added that where De Beers has closed its offices, its representatives are equipped to work remotely. Mining and sorting operations continue unabated, he added.
MOVING TO FLEXIBLE DIRECT SALES PROCESS
UK-based gem Diamonds, which owns the Letลกeng Diamond mine in Lesotho and the Ghaghoo mine in Botswana, has reported that has replaced a tender for its large diamonds with a โflexible direct sale process.โย
This move comes after the company was forced to cancel a tender involving large diamonds from Letลกeng, which was was due to have closed on March 25. The company said thatย
viewings for the sale had been โsignificant,โ and the unsold diamonds would be held over to the next tender.
Nonetheless, noted Clifford Elphick, Gem Diamondsโ CEO, โThe results of the Letseng small diamond tender are resilient given the difficult circumstances under which the tender was held caused by the ongoing COVID-19 situation.โ
To provide support for the Israeli and Belgian diamond sectors, IDI and AWDC are jointly organizing an online diamond trade show.ย
Elphick added that the Letลกeng remained โin full production.โ There had been no reported cases of COVID-19 at any of the companyโs facilities, he added.