Grib Diamonds Products Sales Of $300 Million In 2018

Rapaport reported that diamond marketing company Grib Diamonds had little change in rough diamond sales in 2018, with product sales of $300 million due to weak market demand for small diamonds.

The agency quoted Antony Dear, general manager of Grib Diamonds, as saying that the price of small-grain rough diamonds reflects the market's demand for such products.

He said: "Grib Diamonds' rough diamonds have been under pressure from the industry, and this pressure has increased since the mid-2018. This has affected our prices, and our product prices have fallen by about 10%."

The report also stated that the amount of rough diamonds mined in the Glebe mine in 2018 increased by 14% to around 5 million carats, compared to 4.4 million carats in 2017.

Diamond mining company AGD Diamonds is mining the Glebe Diamond Mine in Arkhangelsk. The mine is one of the largest diamond mines in the world. Earlier reports said that in September last year, AGD Diamonds purchased a 100% stake in Grib Diamonds N. V.