Dubai Rough Tender Sells up to $40m

A rough tender in Dubai sold diamonds valued at $35m to $40m as optimism returned and traders from Israel were able to attend for the first time.

The week-long Trans Atlantic Gem Sales DMCC (TAGS) socially-distanced sale took place earlier this month at the Dubai Diamond Exchange.  Almost all the 45,000 carats were sold.
TAGS said it had received numerous new registrations from Israeli companies after the Abraham Accords signed in September normalized relations with the UAE.  There was also interest from India, UAE, Russia, China, and Belgium.
TAGS, which host regular tenders and auctions on behalf of producers and small artisanal miners from South African, Namibia, and Angola, said almost all the stones on offer were sold to 42 buyers.

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