Industry News by Nemesis

Dubai Rough Tender Garners $21M

August 19, 2018

 

Trans Atlantic Gem Sales (TAGS) sold $20.9 million worth of rough diamonds during a tender it held in Dubai in early August. 

The company sold 25,342 carats of high-quality stones sourced from mines in South Africa and Angola for an average price of $824 per carat, TAGS reported last week. 

“The…rough diamond tender was slightly smaller to reflect the forthcoming holiday period,” a company spokesperson said. 

Some 114 companies attended the sale that took place from July 31 to August 8, the eighth the company has held this year. It plans to hold three more tenders in 2018. 

TAGS facilitates rough auctions and tenders on behalf of diamond producers, operating out of sales offices in Antwerp, Cape Town and Dubai.

Image: Trans Atlantic

 

Source: Rapaport

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