Diavik Foxfire to Headline Rough Diamond Week

IsdeRamat Gan: Rio Tinto’s 187.7 ct. Diavik Foxfire diamond, the largest rough diamond ever found in North America, will headline the Israel Diamond Exchange (IDE) 3rd International Rough Diamond Week, opening next Sunday in IDE’s Rough Trading Hall in Ramat Gan.

The Diavik Foxfire was discovered last fall in the Diavik Diamond Mine in Canada’s Northwest Territories. The stone is being shown at select diamond centers around the world before it will be sold by auction next month. Alan Davies, Rio Tinto Chief Executive, Diamonds and Minerals said, “We are bringing the Diavik Foxfire to our major trading markets. The Israel Diamond Exchange’s Rough Diamond Week is one of the few venues chosen to showcase the stone prior to opening it for online bidding.”

Organizers of the 3rd International Rough Diamond Week said that the event would also showcase other large and outstanding stones including a 32.33 ct. Vivid Pink diamond, an 18.35 ct. Intense Pink diamond and a 245.42 ct. D color diamond. The rough diamond week will feature tenders and auctions by major diamond producers and traders including Rio Tinto, De Beers Group, Alrosa and Tzoffeys 1818. Other prominent rough importers will exhibit within an open sales area.

Shai Schnitzer, Chairman of the International Rough Diamond Week, said that this would be one of the largest rough trading events ever held in Ramat Gan. “There has been great interest by rough diamond traders and buyers in Israel and abroad, and we expect to see several hundred in the IDE Rough Trading Hall during next week,” he added.

IDE President Yoram Dvash said that Israel was a key location for rough diamond trading, with a volume of over $5 billion annually. “We are very pleased that the 3rd International Rough Diamond Week has attracted the most important rough diamond producers to Israel. The fact that Rio Tinto is showing this huge diamond in Ramat Gan is testimony to the importance it attributes to Israel as a rough diamond hub.”