Diamond bourse sells $15m in rough gems

The Dubai Diamond Exchange recently held a successful tender for rough diamonds, totalling about $15 million (Dh54 million) in value, officials said.

"The supply of rough diamonds is a key success factor in creating a viable hub for the diamond sector. We have worked aggressively with partners to establish this supply in a short period of time," said Tawfiq Abdullah, chairman of the Dubai Diamond Exchange (DDE).

Thirty companies, including a number of high-profile buyers and overseas industry leaders, participated in the tender and 90 per cent of the goods were sold, officials said.

Global Diamond Tenders, a registered member of Dubai Metals and Commodities Centre (DMCC), in association with Brinks and ABN Amro, conducted the tender.

It took place on the trading floor of the Exchange's temporary premises in Business Avenue.

"We are very pleased by the response to this tender. We were also pleased by the positive remarks by the buyers, not only on the products offered, but also on how the tender process was conducted."