The Israel Diamond Exchange (IDE) has announced that will plans to hold an International Rough Diamond Week (IRDW) to help boost Israel’s standing as an international rough diamond trading center.
The IDE expects that this event will attract international as well as domestic Israeli buyers to the rough diamond trading floor – where private viewing rooms will be set up to accommodate buyers. The rough diamond week will feature tenders from producers including De Beers Auction Sales, ALROSA and Rio Tinto.
IDE president Yoram Dvash said that the Israeli domestic trade is manufacturing-based and requires a steady supply of rough stones. He added that strenuous efforts have been made over several years to attract diamond producers to Israel and diversify the rough supply.
“Israel is a major player in the rough diamond industry, with a trading volume of over $5 billion in 2015,” said member of the IDE Presidium and chairman of the International Rough Diamond Week, Shai Schnitzer.
“The event concentrates large amounts and varieties of rough in one location, making this a very attractive opportunity for buyers from Israel and abroad.”
The International Rough Diamond Week will take place from May 22-26.