Can The Disconnect Between Rough And Polished Price Behavior Be Perpetual?
September 04, 03 by Chaim Even-ZoharRough diamond sales by the DTC, the marketing arm of De Beers, for the first six months of 2003 totaled $2.92 billion, 2.75% higher than the equivalent period in 2002. As rough prices have increased anywhere between 10%-20% in the comparable periods, the exact price figures... Read More...
Abn-Amro Bank Rejects Diamond Futures Trading Mechanisms
August 28, 03 byOur article entitled “Diamond Futures Contracts Belong to a Traumatic Past”, which took issue with published comments made by the Global Head of Commodity Marketing Financial Markets, ABN-AMRO, evoked many responses. The suggestion to resurrect futures is made periodically (it’s a... Read More...
Nicky & Son – Making History
August 21, 03 by Chaim Even-ZoharI hate vacations. Some big things always happen when you are away – and you find out about them too late to properly assess the significance. This year was no exception. Nicky and Jonathan Oppenheimer launched their Brenthurst Initiative, which is really a blue-print on how to reform the political and economic environment in South Africa to instill investor confidence, to achieve... Read More...
Bureaucracy Creates Temporary Havoc - But The United States Will Synchronize Its Kimberley Participants List With The Rest Of The World
August 14, 03 by Chaim Even-ZoharThe sequence seems perfectly logical: on July 29, President Bush signs the Kimberley Implementation Executive Order; on July 31, Kimberley Process Chairman Abbey Chikane publishes the list of 40 Kimberley Compliant ... Read More...
Diamond Futures Contracts Belong To A Traumatic Past
August 07, 03 by Chaim Even-ZoharIn some banking corners one can discern whispering about the inevitable ultimate next step in commoditizing the polished diamond market: trading in futures of parcels of polished on commodity exchanges. Past attempts to encourage the commodization of the diamond... Read More...
Snap Lake’s Rough Questions
July 31, 03 by Chaim Even ZoharThe regulatory process involving the Snap Lake diamond project in the arctics of Canada isn’t over yet – but the greatest hurdle is now behind De Beers. The Mackenzie Valley Environmental Impact Review Board has completed the environmental assessment of the Snap Lake Project and has recommended to the Minister of Indian and Northern Affairs that the project... Read More...
George Bush’s Last Eight Days Of July…
July 24, 03 by Chaim Even-ZoharDiamond trade with non-Kimberley compliant countries will stop totally as of midnight July 31, 2003. It will have no impact on the business if Lebanon will be declared non-compliant. However, if the United States were to be declared non-compliant it would mean that Israel, India, Belgium and other centers will not be allowed to ship either rough or polished to the world’s largest Read More...
Canadian Premiers to Launch a National Diamond Strategy
July 17, 03 by Chaim Even-ZoharDiamond mines may well be operating in at least seven out of Canada’s thirteen states and territories in the years ahead. By the end of 2003, Canada will be producing approximately 12 percent of the world’s rough diamonds, placing it third in the world, behind Botswana and Russia... Read More...
Kimberley, Shmimberley – Time To Say Goodbye
July 10, 03 by Chaim Even-ZoharThe “Committee of Nine” – the governments of countries that must determine by July 31, 2003 which of the some 60 Kimberley Participants truly meet all the Kimberley process requirements – held its first meeting. ONLY SEVEN COUNTRIES PASSED! Thank God that the wars are basically over, because the Kimberley System either ought to file for bankruptcy or get into some form of... Read More...
Debts Are Dangerous In A Deflationary Environment
July 04, 03 by Chaim Even-ZoharIn a recent presentation, Marcus Randolph, BHP-Billiton’s chief diamond executive, noted that since 1970 rough diamond prices (in real terms) have doubled, while the price of zinc went down 50% and that of copper some 75%. Though diamond prices have still not yet recovered to their peak... Read More...
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