The 3rd International Rough Diamond Week which was held at the Israel Diamond Exchange (IDE) from May 22 – 26, 2016 was rated as a success by both rough sellers and buyers, the organisers said in a release yesterday.

The event saw the participation of important rough producers – De Beers Auctions, Rio Tinto and Alrosa, as well as Israeli importer Tzoffeys 1818, all of whom, the statement says,  reported a high level of interest in their tenders. Leading Israeli rough importers who took part in an open sales area also reported active interest, it added.

Shai Schnitzer, Chairman of the 3rd International Rough Diamond Week, said that a key aspect of the event was the attendance of representatives from diamond producing companies that have not yet sold rough in Israel. “Israel’s position as a leading rough trading hub has attracted interest in our market. We were able to bring executives from some important mining companies to the event to explore opportunities for cooperation in the future. I believe that what they have seen will convince them to work with us in supplying rough diamonds to Israel,” he said.

One such company was Gem Diamonds, which has mines in Lesotho and Botswana, represented by Brandon de Bruin, Group Sales and Marketing Executive. In a separate meeting with the Israel Diamond Manufacturers Association (IsDMA), de Bruin said that Gem Diamonds would seriously look into holding viewing for its tenders in Israel as well (the company organises eight tenders each year in Antwerp), which would open up important opportunities for local manufacturers.  

Israel Diamond Exchange President Yoram Dvash said that he was very pleased with the event and the reaction of Israeli manufacturers. “Manufacturers need to have a steady supply of the right rough goods at attractive prices. That’s why we invest so much effort in expanding rough supply direct from the source. We will continue to work in this direction to strengthen Israel as a manufacturing center,” he said.