Over 2m carats sold by Dubai Diamond Exchange and Stargems Group

DDE sales are up 75% during the first eight months on 2018 compared to 2017
Over 2m carats sold by Dubai Diamond Exchange and Stargems Group
Dubai is the third biggest diamond trading hub in the world, with $16.7 billion of rough diamonds traded in 2017.
By Lubna Hamdan
Sun 11 Nov 2018 04:54 PM

More than 2 million carats have been sold by the Dubai Diamond Exchange (DDE), a subsidiary of Dubai Multi Commodities Centre (DMCC), in collaboration with Stargems Group.

The sale is part of six successful rough diamond tenders of SACIM goods (Anhui-Congo Mining Investment Company).

The tenders took place in Almas Tower and saw around 200 diamond companies attend. They featured rough diamonds from Angola, the Democratic Republic of Congo and South Africa.

Earlier this year, DMCC signed a partnership with Stargems, which specialises in the sourcing and supply of fine diamonds, to host a series of rough diamond tenders for global miners and suppliers.

In the first nine months of 2018, DDE recorded a 75% increase in total sales of just under $200 million compared to the same period in 2017.

Dubai is the third biggest diamond trading hub in the world, with $16.7 billion of rough diamonds traded in 2017.

Shailesh Javeri, group chairman and founder of Stargems Group said: “Since we started our operations and collaborated with DMCC in early 2018, we have experienced continuous growth. We continue to enjoy an increasing number of participants from across the leading diamond centres. Our partnership with the DDE will undoubtedly enable us to continue this growth trend.”

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