Industry News by Nemesis

Stargems Closes Strong Dubai Rough Tender

November 27, 2019

 

Stargems sold nearly $50 million worth of rough diamonds at a tender in Dubai this month.

A total of 577,000 carats of high-quality rough from across Africa went on sale at the Dubai Diamond Exchange’s Almas Towers, with more than 500,000 of those originating from the Sacim mine in the Democratic Republic of Congo. More than 200 international buyers attended the sale, one of the largest rough-diamond tenders to take place in the United Arab Emirates, the Dubai Multi Commodities Centre (DMCC) said Monday.

“Our November tender has set a new record for Stargems,” noted Shailesh Javeri, chairman of Stargems. “We are delighted with the overwhelming interest shown in the tender and the competitive price achieved for the rough stones.”

Image: From left to right: Juma Ghabish, government relations adviser for DMCC; Bhavesh Javeri, managing director of Stargems; Feryal Ahmadi, chief executive officer of DMCC; and Karan Javeri, CEO of Stargems. (Dubai Multi Commodities Center)

 

Source: Rapaport

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