Diamcor Mining reported that in the current fiscal quarter, which ended June 30, it sold 7,821.13 carats of diamonds from the site Krohn-Endora (Krone-Endora) Venice Project (Venetia) in South Africa, while receiving $ 952,000, or $ 121 67 per carat.
In a statement, the company reported that in April, at the tender has been received $ 387,000 from the sale of 3031.95 carats, while in May the company was able to sell 4789.19 carats for $ 565 000.
In Diamcor also said that the party of 646, 56 carats, of which 148.29 carat stones are of higher quality, has been withdrawn from the tender in May and will be sold at a separate auction this month.
Furthermore, additional 4,969 carats of diamonds from the project is also going under the hammer at the June auction. Thus, the total amount of its volume of 5615 carats.
As noted in Diamcor, the total volume of rough diamonds sold on tenders in the current quarter could reach 13 436.21 carats.
"Prices per carat of diamonds that have been made so far during the reporting period, in line with expectations of the company and reflect the decline in prices of certain categories of diamonds", - concluded the Diamcor.
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Indian Prime Minister Narendra Modi during his visit to Belgium, met with members of the Board of the Antwerp World Diamond Center Directors (AWDC), with whom he discussed a number of issues, including regulatory setting on imports imposed by the Reserve Bank of India (Reserve Bank of India, RBI ).
One of the issues that the Prime Modi was authorized to decide very quickly, was the acquisition of the RBI permission to provide blank credit for a period exceeding 180 days.
Blank credit or a loan without collateral, provided by a foreign supplier to the Indian customer for the import of diamonds without formal guarantees from the Indian financial institution, which significantly speeds up and simplifies the process. Banks have the right to approve the blank credit for Indian importers, but for a period not exceeding 180 days.
"Obviously, we are pleased to see that the very next day after our meeting with the Prime Minister RBI decided to allow state-owned banks to approve a blank line of credit provided by foreign suppliers to Indian importers of diamonds for a period exceeding 180 days. This will only strengthen already strong trade relations between Antwerp and the Indian diamond industry ", - said AWDC CEO Ari Epstein (Ari Epstein).
Belgium is one of the top three trading partners of India in Europe and the second largest exporter of goods to India, which is primarily due to the diamond trade. It accounts for about 82% ($ 7.85 billion) of all Belgian exports from India.
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