Rough Diamond Tenders over 2mn cts Sold
DDE
total sales are up by 70% YoY
DDE
and Stargems Group hosts six tenders
The
Dubai Diamond Exchange (DDE), a subsidiary of DMCC, the world’s flagship Free
Zone and Dubai government authority on commodities trade and enterprise, in
collaboration with Stargems Group, today announced the completion of six
successful rough diamond tenders of SACIM goods (Anhui-Congo Mining Investment
Company) with over 2 million carats sold. The tenders were held at the Almas Tower
with around 200 diamond companies in attendance and were facilitated by the
Dubai Diamond Exchange in a secure, transparent and regulated environment.
Earlier
this year, DMCC signed a strategic partnership with Stargems, specialised in
the sourcing and supply of fine diamonds, to host a series of rough diamond
tenders. The agreement enables members, miners and suppliers from around the
world to trade and distribute rough diamonds at Stargems’ events hosted at
DDE’s headquarters in Almas Tower.
The
six tenders offered clients the opportunity to bid for rough diamonds from
Angola, the Democratic Republic of Congo and South Africa. More than 2 million
carats have been sold at the tenders, which achieved prices and volume
expectations and reflect the constant demand for rough diamonds and the
positive sentiment across the industry.
In
the first nine months of 2018, the DDE recorded a remarkable increase in rough
diamond tenders and total sales of just under USD 200 million, up by 75 per
cent compared to 2017.
“A
combination of Dubai’s unique geographic position between producing and
consuming markets and DDE as a leading diamond trading hub in the centre of the
region has helped Stargems secure strong volume and sales for their diamonds.
Our partnership with Stargems is part of our ongoing efforts to present real
and tangible opportunities for members of the diamond industry and bridges the
gap between the diamond producing nations and the manufacturers. These are
essential in helping traders conduct their business safely, efficiently and
confidently,” Ahmed Bin Sulayem, Executive Chairman, DMCC and DDE Chairman,
said.
“Dubai
is the third biggest diamond trading hub in the world with USD 16.7 billion of
rough diamonds traded in 2017, and will continue to play a central role for the
diamond trade” Ahmed Bin Sulayem added.
Shailesh
Javeri, Group Chairman and Founder of Stargems Group said: “Since we started
our operations and collaborated with DMCC in early 2018, we have experienced
continuous growth. We continue to enjoy an increasing number of participants
from across the leading diamond centres. Our partnership with the DDE will
undoubtedly enable us to continue this growth trend.”
Today,
DMCC is one of the world’s leading diamond trading hubs with over USD 16.7
billion of rough diamonds traded in 2017. The DDE is the only World Federation
of Diamond Bourses (WFDB) accredited exchange in the Middle East. It provides
its members and industry participants with the appropriate infrastructure,
products, services and regulation they require to grow, succeed and trade with
confidence.
Comments
Post a Comment