Stargems Holds Record $50M Tender in Dubai

RAPAPORT... Stargems sold nearly $50 million worth of rough diamonds ata record-breaking tender in Dubai this month. A total of 577,000 carats of high-quality rough from acrossAfrica went on sale at the Dubai Diamond Exchange's Almas Towers, withmore than 500,000 of those originating from the Sacim mine in the DemocraticRepublic of Congo. More than 200 international buyers attended the sale,one of the largest rough-diamond tenders to take place in the UnitedArab Emirates, the Dubai Multi Commodities Centre (DMCC) said Monday. "Our November tender has set a new record for Stargems,"noted Shailesh Javeri, chairman of Stargems. "We are delighted with theoverwhelming interest shown in the tender and the competitive price achievedfor the rough stones." Image: From left to right: Juma Ghabish, government relations adviser for DMCC; Bhavesh Javeri, managing director of Stargems; Feryal Ahmadi, chief executive officer of DMCC; and Karan Javeri, CEO of Stargems. (Dubai Multi Commodities Center)