De Beers Returns to Israel After 9-Year Hiatus
Translated & summarized from NEWSru Israel by baba
De Beers is returning to Israel after a nine-year break, with diamond tenders scheduled for October 13-15 at the Israel Diamond Exchange in Ramat Gan. The move follows a new tax agreement that lowers taxable income for diamond traders. Despite the return, the global diamond industry faces challenges, including competition from lab-grown diamonds and declining prices, which have also impacted Israeli diamond trade volumes.
The story in 6 lines · by baba
- De Beers will resume operations in Israel after a nine-year absence, holding tenders from October 13-15.
- The company's return is linked to a new tax agreement lowering taxable income for Israeli diamond traders.
- Israeli traders can now participate in De Beers tenders locally, avoiding international travel.
- The global diamond industry is struggling with competition from lab-grown diamonds and falling prices.
- De Beers' rough diamond prices fell 32% in the first half of 2026.
- Israeli diamond exports decreased by 22.3% in the first half of the year.
De Beers, one of the world's largest diamond mining companies, is resuming operations in Israel after a nine-year absence. From Tuesday, October 13, to Thursday, October 15, the company's diamonds will be available to buyers at the Israel Diamond Exchange in Ramat Gan. This return follows a new taxation agreement between the Diamond Exchange and the Israel Tax Authority. The agreement establishes a fixed, low percentage of turnover as the taxable income for diamond traders, eliminating a previous minimum threshold that forced traders to declare high income even during periods of reduced activity. This new Israeli tax rate is significantly lower than the 2.1% of turnover taxed in Belgium. De Beers' tenders are a primary channel for selling the company's rough, natural diamonds, open to registered clients, traders, and manufacturers who meet specific criteria. Israeli market participants will now be able to inspect goods and bid in tenders without traveling abroad. The diamond industry is currently facing significant challenges, including competition from lab-grown diamonds. De Beers' average rough diamond price in the first half of 2026 was $105 per carat, a decrease of approximately 32% compared to the previous year. Diamond trading volumes in Israel have also declined, with net exports of polished diamonds falling 22.3% to $625.7 million in the first half of the year, and rough diamond exports dropping 34.6% to $191.2 million. Imports of both polished and rough diamonds also saw decreases.
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