Among the report received Rough & Polished on Investment Conference in the African mining industry (Investing in African Mining Indaba), stating that it has acquired 451,000 carats during the period against the target of 552,000 carats.
It also sold 460,000 carats from 574,000 carats, estimated in the same period.
Diamond Trading Company attributes its failure to achieve budgeted purchase rates and sale of diamonds to the absence of demand from beneficiation system. Samples diamond transmitted for this purpose have been considered inappropriate for local beneficiation.
"Large customers are not willing to invest in the purchase of rough diamonds when demand was weak and prices continued to decline," - said in the State Diamond Trader.
At the same time, the company claimed that the average price of diamonds purchased it was $ 194.71 per carat compared to $ 423 per carat a year earlier.
"This reflects the implementation of the sales strategy, according to which [we were] able to sell these diamonds are not preferred for clients in the beneficiation system This allows [us] to provide appropriate rough diamonds for local beneficiation." - added to the diamond company.
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Indian Prime Minister Narendra Modi will launch the first in the history of the "Indian gold coin" weighing 5 and 10 grams with the engraved "Ashok Chakra" symbol. In addition, on the same day, a scheme for the monetization of gold and sovereign gold bonds, which were created to mobilize 20,000 tons of gold, stored in households and temples of India, will be presented.
The Indian government is launching new schemes and gold coins on the eve of the Diwali festival, in which there is usually strong demand for gold.
"The company Security Printing and Minting Corporation of India Ltd. will mint coin data, a batch of 20,000 coins weighing 5 grams and 30,000 coins weighing 10 grams will be produced.These coins will be cheaper than the market average,
And will be offered through bank branches and postal offices, "the government said in a statement that India is the world's largest gold consumer.The citizens of this country are buying gold at various festivals, weddings, and as an investment asset. Monetization of gold in order to mobilize 20,000 tons of gold with a total value of approximately $ 83 billion for use in the banking system, and gold bonds will be offered to the population as an alternative to gold. ie bonds will be offered in tranches and interest income thereon will be paid in rupees. Through this scheme, the government hopes to get $ 2.3 billion. Timing drive circuit will be determined in consultation with the Reserve Bank of the country.
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