International Rough Diamond Week Opens at IDE

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International Rough Diamond Week Opens at IDE

The second International Rough Diamond Week (IRDW) opened yesterday (Sunday) with a ceremony held at the rough trading hall of the Israel Diamond Exchange (IDE).

Several companies are holding rough diamonds tenders during the week, including Rio Tinto, De Beers and Hennig/ Fusion Alternatives. The Fusion/Hennig tender features rough stones from Angola. Tzoffey’s 1818, the Israeli-French auction house, is holding two separate tenders of rough diamonds – one consisting of a run-of-mine production from Africa and the second comprising rough goods sourced in the open markets of Antwerp, Ramat Gan and Dubai. Mining giant Alrosa holds its tender in the offices of Arcos Diamonds Ltd.

In total, 350 companies from Israel and abroad are participating in the different tenders.

IDE President Shmuel Schnitzer spoke at the ceremony, and stated that without a strong manufacturing infrastructure, the Israeli diamond industry will struggle. Arnon Yuval, IDE Deputy President and Chairman of the Rough Committee, said: “We worked hard to bring a great amount of goods in six tenders. These are showcased in four fully-equipped rooms, so the stones can be thoroughly tested”. Yuval added that he believed that the International Rough Diamond Week will give a boost to the diamond industry in Israel. He thanked Diamond Controller Shmuel Mordechai for his assistance in the smooth delivery of the goods, and IDE Managing Director Moti Besser and his staff for the three-month long preparations for the event. Diamond Controller Shmuel Mordechai added his congratulations on the event.

By courtesy of the Israel Diamond Institute

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