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Gem Diamonds To Tender Large-Size Rough In Israel

The International Tender Centre (ITC) at the Israel Diamond Exchange (IDE) will host Gem Diamonds’ first tender of high-value rough from its Letšeng mine in Lesotho. This will be the first Letšeng rough diamond tender outside of Antwerp.

The tender will feature high-value rough diamonds larger than10.8 carats as well as a selection of top colour and clarity 5-10 carat stones. Viewing will take place at the ITC in the Israel bourse complex from October 15 to 18, while additional viewing of the rough will take place in Antwerp from October 23 to November 2.

Gem Diamonds CEO Clifford Elphick said, “After selling for 10 years exclusively out of Antwerp, Gem Diamonds is delighted to introduce the high quality Letšeng production to the Israel market. We hope to enhance our relationships with existing Israeli clients, establish new ones and seize opportunities within the Tel Aviv Diamond market.”

IDE’s Rough Diamonds Committee Chairman Shai Schnitzer said, “The Israel diamond market is a major buyer of large and exceptional stones and this tender is certainly win-win for both sides.”

IDE President Yoram Dvash said, “We launched the ITC last February in order to introduce important diamond producing and trading companies to the Israel market, and to make these goods more accessible to our members. The response so far has been overwhelmingly positive and the ITC has been very busy since it was opened. The Gem Diamonds tender is a significant achievement and we are very optimistic that we will continue hosting them in the future.”

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