Trans Atlantic Dubai Tender Grosses $46M

RAPAPORT... Trans Atlantic Gem Sales (TAGS) sold $46.4 million worth ofrough diamonds during a tender in Dubai in late November and early December, itsaid Wednesday. The company sold 97,841 carats of high-quality stones frommines in South Africa and Angola for an average price of $474 per carat. Thecompany extended its final bidding deadline due to strong interest, it said. "Through 2019 we anticipate a sustained supply of...production,which will provide our customers with a regular and meaningful volume ofhigh-quality rough, to form an important component of manufacturers' monthlyproduction programs," a TAGS spokesperson noted. Some 168 clients attended the tender, the company's 10th andfinal sale this year. TAGS facilitates rough auctions and tenders on behalf ofdiamond producers, operating out of sales offices in Antwerp, Cape Town andDubai. Image: Rough diamonds. (Trans Atlantic Gem Sales)