Tender Report February/March 2022

Post sale report

Our recent sales event ran from 24th Feb – 2nd March.

Following a very successful Dubai Diamond Conference on 21st Feb and numerous other trade and jewellery events throughout the week, we presented one of the largest tenders to date of our regular Southern African productions.

The Conference attracted a record number of attendees from around the world underpinning Dubai’s status as the leading destination for rough diamond trading.

A high-level delegation of Angolan government officials and representatives from Sodiam EP were present throughout the week to attend meetings and present to the industry the diamond hub initiative which has commenced in Saurimo.

Additionally, the trade was informed of the establishment of The Angolan Diamond Exchange and Tender facility in Luanda, for which Trans Atlantic Gem Sales have been selected to manage and organise sales events on behalf of Sodiam EP.

As a result of this association, we have already received a huge amount of interest from our customers as to when tenders will commence, so they can arrange travel plans. This information will be communicated to all customers as soon as possible.

At the tender we presented close to 60,000 carats of Gem quality rough with a value of $75m to around 130 companies from all the centres. Sales were made to around 70 companies representing all the leading centres, and we are pleased to report all goods were sold.

While there were signs that the upward price trend was beginning to slow down in the middle of the month, recent events in Russia have again caused concern and uncertainty amongst rough buyers.

From what we have seen during the past week the market remains very strong, and we witnessed extremely strong demand across the full range of the rough presented.

Our next Sales event will be in Dubai between 6th and 12th of April.