Industry News by Nemesis

Rio Tinto’s ‘Diavik Foxfire’ to Headline Israel Rough Diamond Week

May 17, 2016

 

Rio Tinto’s 187.7-carat “Diavik Foxfire” rough diamond, the largest ever recovered in North America, will headline the Israel Diamond Exchange’s (IDE) upcoming 3rd International Rough Diamond Week.

 

The stone was recovered at the Diavik Diamond Mine in Canada’s Northwest Territories in December and is only being shown at select diamond centers around the world, before its auction next month. The diamond also has the name Noi?eh Kwe, which honors the Tlicho land and people.

 

“We are bringing the Diavik Foxfire to our major trading markets,” said Rio Tinto chief executive diamonds and minerals, Alan Davies. “The Israel Diamond Exchange’s Rough Diamond Week is one of the few venues chosen to showcase the stone prior to opening it for online bidding.”

 

The Rough Diamond Week will also showcase other large stones, including a 32.33-carat Vivid Pink diamond, an 18.35-carat Intense Pink diamond and a 245.42-carat D-color diamond. Major diamond producers and traders such as Rio Tinto, De Beers, ALROSA and Tzoffeys 1818 will hold tenders and auctions. Other prominent rough importers will also exhibit within an open sales area.

 

International Rough Diamond Week chairman Shai Schnitzer expected that the rough trading week will be one of the largest ever held at the IDE, highlighting that he anticipated that several hundred diamond traders and buyers from Israel and overseas will attend.

 

“We are very pleased that the 3rd International Rough Diamond Week has attracted the most important rough diamond producers to Israel,” said IDE president Yoram Dvash. “The fact that Rio Tinto is showing this huge diamond in Ramat Gan is testimony to the importance it attributes to Israel as a rough diamond hub.” 

 

The 3rd International Rough Diamond Week will take place from May 22-26 at the Israel Diamond Exchange’s Rough Trading Hall in Ramat Gan.

 

Source: Idex

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