Alrosa diamond sales less in October, but outlook is positive for the future

HANDLING-ROUGH-DIAMONDS image www.worldwidediamonds.info

Russia’s Alrosa (MCX:ALRS), the world’s top diamond producer by output in carats, said Tuesday that sales of rough gems dropped slightly in October, when compared to the previous month, though polished diamond sales remained unchanged.

Rough gems sales totalled $430.8 million in October, slightly less than the $435 million fetched in September, Alrosa said. Polished diamond sales came to $8.2 million.

De Beers, the world’s top producer by value, also reported Tuesday a drop in rough diamond sales —the lowest amount so this year.

But diamond producers are used to the up and downs in sales as they know the industry is seasonal, reaching its peak from November through to February.

Alrosa, which together with De Beers controls almost two-thirds of the diamond market, said earlier it intends to recover 1.7 million carats of diamonds a year from its Verkhne-Munskoye mine, which is slated to begin production in 2018.

The construction of that mine, which has 38.3 million carats of booked reserves, is part of a long-term development program that aims to increase Alrosa’s diamond production to 41 million carats by 2021.

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De Beers recent sale the lowest this year in less than shiny display

diamonds-in-the-rough-cluster-on-black image wwww.worldwidediamonds.info

Diamond giant De Beers, the world’s top producer by value, saw its sales of rough gems fall in its latest offering, but said results were in line with expected seasonal demand patterns.

The Anglo American’s unit sold $470 million of diamonds in the ninth cycle, compared with $494 million fetched at its previous sale.

“Encouragingly, the ninth sales cycle of 2016 showed continued good demand for De Beers rough diamonds, with sales in line with expected seasonal demand patterns,” the firm’s chief executive Bruce Cleaver said in the statement.

It sold $470 million of diamonds in the ninth cycle, compared with $494 million fetched at its previous sale.Rough-diamond prices have rebounded about 7.4% so far this year after De Beers and rival Alrosa reduced output in an effort to improve market conditions. Miners of the precious stone have been struggling due to weak demand and falling prices after global demand for diamond jewellery hit a high of $81 billion in 2014 and production soared, causing a supply-glut by 2015.

Russia’s Alrosa, the world’s top diamond producer by output in carats, also reported Tuesday a drop in rough gems sales.

De Beers, which currently has about 30% of the rough diamond market, began operations of at its newest mine in September. Gahcho Kué, in Canada’s Northwest Territories, is expected to contribute $5.2 billion (Cdn$6.7 billion) to the country’s economy and provide 1,200 new jobs.

This new operation as well as Stornoway’s (TSX:SWY) recently opened Renard mine in Quebec, are expected to add around 7 million carats annually to global production once fully operational, which is likely to affect prices, De Beers said in September.

De Beers sales for the year to date have reached $5.16 billion. The company was Anglo American’s largest profit driver in the first half of this year, accounting for about 40% of its underlying earnings during the period.

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World’s largest pair of pear-shaped diamonds could fetch up to $30m

worlds-largest-pair-of-pear-shaped-diamond-earrings-could-fetch-up-to-30m image www.worldwidediamonds.info

A newly created set of drop earrings featuring the world’s largest pair of pear-shaped diamonds, is expected to fetch up to $30 million when they go under Christie’s hammer in Geneva on Nov. 15.

The “flawless quality” rocks, weighing 52.55 and 50.47 carats, were made into earrings by Boehmer et Bassenge’s new boutique Maison de Haute Joaillerie, in Paris.

The piece of jewellery, named Miroir de l’Amour (Mirror of Love), will be sold alongside an exceedingly rare Fancy Vivid pink pear-shaped diamond ring, which is expected to sale for $16 to $18 million, the auction house said.

the-fancy-vivid-pink diamond image www.worldwidediamonds.info

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The Orange

the-orange

When it was auctioned in 2013, this diamond was the largest Fancy Vivid Orange diamond ever to have been discovered, weighing approximately 14.82 carats.

The gem, which sold for over $35.5 million — more than $15m above its high estimate — is also the largest Fancy Vivid Orange diamond ever graded by the Gemological Institute of America.

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The Winston Legacy

the-winston-legacy diamond image www.worldwidediamonds.info

On 15 May 2013 this exceptional pear-shaped gem — at 101.73 carats, one of the world’s most perfect diamonds — was the top lot in Christie’s record-breaking $102 million Geneva auction of Magnificent Jewels. It sold to Harry Winston for $26.7 million, setting a new world record at auction for a colourless diamond.

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The Blue

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The world’s largest and flawless pear-shaped diamond set a fresh all-time record at a global auction for a blue diamond. It was sold to Harry Winston for $24 million — more than $1.8 million per carat — and it was rechristened as the Winston Blue.

The diamond industry has rebounded this year after Anglo America’s De Beers unit and Russian rival Alrosa axed supply in 2015. And while rough-diamond prices have gained over 7% this year, main actors such as De Beers have repeatedly warned the final months of the year could be more difficult.

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World’s largest flawless heart-shaped diamond & this is it here

largest D Flawless heart shape diamond in the world image www.worldwidediamonds.info

Yes, they are a girl’s best friend. But, not every girl can get them and this particular gemstone is definitely a hard-to-get brilliant beautiful bountiful bling.

Graff Diamonds has just revealed in London its Graff Venus, the largest D Flawless heart shape diamond in the world, which weighs 118.78 carats and is the size of a walnut.

largest D Flawless heart shape diamond in the world image www.worldwidediamonds.info (2)

(Photo: Graff Diamonds).

This diamond has been described as a flawless type IIA with superb polish, excellent symmetry and nil fluorescence. These features are only accorded the top diamonds in the world.

The Venus heart shaped white diamond was cut from a 357-carat rough discovered at the Letšeng Mine in Lesotho in 2015.

It took 1.5 years for the stone to take shape, starting from the initial discovery, going through the analysis process and developing new technology to cut and polish the main diamond and the 22 other satellite stones yielded from the same piece of rough.

largest D Flawless heart shape diamond in the world study sketch image www.worldwidediamonds.info (2)

Will you be the lucky lady to receive this record-breaking superb white flawless heart-shaped gem? For now, Graff plans to showcase it around a number of countries before setting it as a jewel.

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DIAMONDS CAN BE FOREVER IN STORING DATA SCIENCE SAYS

data-contained-in-diamonds-could-stay-there-forever-too image www.worldwidediamonds.info

It’s said diamonds are forever and if the results of a new study published this week leads to a new, more practical use of the precious stones, data could also be stored on them, virtually forever.

According to a paper available at the journal Science Advances, diamonds can be used as a way to store vast amounts of data using atom-size flaws ordered in 3D arrays.

The authors, a team of physicists from City University of New York, used lasers to encode and read data on diamonds’ atomic-sized imperfections, known as a nitrogen vacancy centres.

They treated those minuscule spaces as magnets that could repel or absorb electrons and encoded simple gray-scale images, such as the faces of Albert Einstein and Erwin Schrödinger by adding an electron and taking another away using lasers.

data-storage-diamonds image www.worldwidediamonds.info

The scientists encoded images of Albert Einstein and Erwin Schrödinger on a diamond by adding and removing electrons with green and red lasers. (Image: Meriles Group, City College of the City University of New York)

The results of these experiments suggest that diamonds could be used to encode data in the form of negatively and neutrally charged defects, which lasers can read, write, erase and rewrite, the physicists said.

“With these advanced protocols, the storage capacity of a diamond would surpass what existing technologies can achieve,” the authors wrote in a blog. “This is just a beginning, but these initial results provide us a potential way of storing huge amount of data in a brand new way. We’re looking forward to transform this beautiful quirk of physics into a vastly useful technology.”

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World’s largest new diamond mine opens in Canada

The Gahcho Kue diamond mine image www.worldwidediamonds.info

The Gahcho Kue diamond mine – one of the largest new mines in the world – has officially opened in Canada’s North West Territories.

The open-pit mine is located near the Arctic Circle, 280 km northeast of the province’s capital Yellowknife.

De Beers officially opened it, with chief executive Bruce Cleaver telling AFP, “It’s the largest diamond mine brought into production in the last 13 years and it’s the biggest outside South Africa.”

The company owns a 51 per cent of the joint venture, with the remainder owned by Canada’s Mountain Province Diamonds.

Its name comes from the local indigenous Chipewyan term for “big rabbit”.

The site is mainly accessible by air, with trucks only able to access via ice roads for a short period of time in winter months. An estimated 530 workers will be employed, and flown in for two week rotations.

It will produce 54 million carats of rough diamonds during its 12-year life.

With this new mine – the sixth to open in Canada in the last 20 years – the country becomes the fifth largest diamonds producer in the world by volume, as well as the third by value, recording more than $1.5 billion a year in exports.

Cleaver indicated a medium to long term growth in the demand for jewellery, which will still support diamond growth, although production is in decline.

China, the US, Japan, and India are the largest diamond purchasers, buying more than 70 per cent of diamonds sold each year.

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Production to begin at world’s largest new diamond mine

Mountain Province Diamonds has began ramping up its Gahcho Kué diamond mine in Canada’s Northwest Territories to commercial production, following its successful commissioning. 

The Gahcho Kué, a joint venture between Mountain Province Diamonds and De Beers Canada, is considered the world’s largest new diamond mine.

The project will begin commercial production in the first quarter of next year and produce an average of 4.5 million carats annually during its 12 year life.

First ore was produced on March 23 2016, with Mountain Province President and CEO Patrick Evans saying both the commissioning and ramp up activities was a “major achievement” for the joint venture.

During the ramp up commissioning phase, the site also produced two large gems; a 12.10 carat and 24.64 carat diamond.

Its first diamond sale is set to take place by the end of this year.

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Henry Sapiecha

This new technology could be the worst enemy for blood diamonds

Illegal diamond miners.image www.wordwidediamonds.info

Sooner than you think, you will be able to learn where a diamond really comes from, its measurements, grading and other key information by simply using a smartphone, as two companies have partnered to bring near field communication (NFC) — best known for enabling mobile payments — into the diamond industry.

Thinfilm, which prints NFC tags, and Sarine Technologies, which develops technologies for diamonds and gemstones, said Tuesday they are working together to empower jewellers and consumers by increasing transparency in the diamond retail.

Applying near field communication, or NFC, smartphone users can learn a diamond’s history, measurements, grading and other key information.Thinfilm will produce NFC tags that show a smartphone user the profiles of individual diamonds. They will be printed on paper sold with diamonds wholesale or eventually on tags attached to rings in stores.

The technology could ease the work began in 2003 by the Kimberly Process, an international organization that oversees the diamond trade, and which goal is to eliminate from the market all blood diamonds—stones that fuel violent conflicts through their sale.

Currently, The KP works through a so-called “system of warranties,” whereby every government must provide a written guarantee that their diamonds are not involved in funding any conflict. The 81 participating countries, which account for roughly 99% of the world diamond trade, also only deal with each other.

However, the system is not exempt of fraud and fake certificates have been often found attached to diamonds sold in global markets. This, as the a Kimberley Process certificate does not apply to an individual diamond but to a group of rough stones which are then cut and shipped around the world. Without a tracking system, this is where the trail currently ends.

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Swiss jeweller buys rights to $63M Constellation Lucara diamond

Cutting and polishing the 813-carat stone could result in one of the world’s largest flawless diamonds

lucara-813-ct-diamond image www.worldwidediamonds.info

The world’s most expensive rough diamond is now in the hands of De Grisogono, a Swiss luxury jeweller and watch maker.

Geneva-based De Grisogono purchased the rights to market Lucara Diamond’s (TSX:LUC) Constellation gem, which sold in May for a record $63 million, at the launch of the 28th Biennale des Antiquaires in Paris. The price was not disclosed.

The company entered into an agreement with Nemesis International when the Dubai-based corporation bought the 813-carat stone from Lucara, which recovered it last November from its Karowe mine in Botswana.

“I love her and I hate her. Love because something like this is so exceptional – I could never dream to be able to have a stone like this in my own hands – and hate her because I don’t know how I’m going to dress her.”

According to De Grisogono, cutting and polishing the Constellation – a process expected to take several months – could result in one of the world’s largest flawless diamonds. The impressive rock weighs 813 carats and measures six centimetres (2.4 inches) across. According to Nickolas Polak, international director of Nemesis, the diamond will be cut in Antwerp and is expected to produce the world’s largest D Flawless diamond, weighing between 300 carats and 350 carats, reported the fashion website WWD.

“(This is) the first time we’ve taken such a historic stone and had full creative freedom to do what we want with it,” CNN quotes De Grisogono CEO John Leitao, who added that the firm plans to transform Constellation into “a stone that rivals the crown jewels.” The company’s founder was even more colourful in his comments: “I love her and I hate her,” said Fawaz Gruosi. “Love because something like this is so exceptional – I could never dream to be able to have a stone like this in my own hands – and hate her because I don’t know how I’m going to dress her.”

Lucara made headlines with an even bigger diamond also dug from Karowe, the 1,109-carat “Lesedi La Rona”  (or “our light” in the Tswana language spoken in Botswana). However that stone, which was expected to fetch $70 million, failed to sell at auction and Lucara is still searching for a buyer.

De Grisogono also purchased the rights to market a 404-carat rough diamond from Nemesis International in May. According to Rapaport News, that stone was recovered by Lucapa Diamond Company (ASX:LOM) at its Lulo mine in Angola.

Three days ago Lucapa dug a 38.6-carat pink diamond, also from Lulo. The coloured stone is the largest “fancy” pink diamond recovered to date from the mine.  The Australian company reportedly sold it last week as part of a parcel of other rocks for a total of $5.8 million.

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Lucapa finds another massive diamond at Lulo, biggest pink yet

lucapa-finds-another-massive-diamond-at-lulo-biggest-pink-yet image www.worldwidediamonds.info

Australian Lucapa Diamond (ASX:LOM) has unearthed yet another massive, this time a  38.6-carat pink diamond, at its Lulo project in Angola.

The coloured stone is the largest “fancy” pink diamond recovered to date from Lulo, surpassing the 28.5-carat, said the company, which sold it earlier this week as part of a parcel of other rocks for a total of $5.8 million.

The Lulo diamond project, located 150km from Alrosa’s Catoca mine, the world’s fourth largest diamond mine, hosts type-2a diamonds which account for less than 1% of global supply.

The 38.6-carat pink diamond was sold earlier this week as part of a parcel of other rocks for

a total of $5.8 million.

Lucapa holds a 35-year license for the project, which recently bore a 404.2-carat white diamond, considered the largest diamond ever recovered in Angola and the biggest diamond ever found by an Australian company.

Angola is the world’s No.4 diamond producer by value and No.6 by volume. Its industry, which began a century ago under Portuguese colonial rule, is successfully emerging from a long period of difficulty as a result of a civil war that ended in 2002.

Earlier this year, the government reduced taxes and cut state ownership requirements to rekindle the industry after the global financial crisis forced mines to close.

The world’s biggest pink diamond found to date was unearthed at Rio Tinto’s Argyle mine, weighing 13 carats.

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Henry Sapiecha

Massive Cullinan Dream blue diamond fetches over $25m at auction

Price fetched makes it the most expensive fancy intense blue diamond ever sold at auction.

massive-cullinan-dream-blue-diamond-fetches-over-25m-at-auctionimage www.worldwidediamonds.info

The Cullinan Dream in the rough.

A 24.18-carat intense blue diamond known as The Cullinan Dream has just sold for $25.4 million at Christie’s Magnificent Jewels auction in New York, breaking all records and becoming the most expensive gem of its kind ever sold at auction.

The diamond, cut from a 122.52-carat rock found at Petra Diamond’s (LON:PDL) Cullinan mine in South Africa in 2014, is the largest of four blue diamonds made from the original.

The Cullinan Dream, a cut-cornered rectangular mixed-cut diamond, has been classified by the Gemological Institute of America as Type IIb. Those kinds of gems are very rare and account for less than one-half of 1% of all diamonds found in nature.

cullinam-dream-diamond-ring image www.worldwidediamonds.info

The Cullinan Dream is now a cut-cornered rectangular mixed-cut fancy intense blue diamond, weighing approximately 24.18 carats.

Type IIb gems contain a small amount of the element boron trapped in the crystal carbon structure during their formation that can give rise to a blue or grey coloration, Petra Diamonds said in a statement.

The mine is best known for the discovery of the Cullinan diamond, at 3,106 carats the largest rough diamond ever found. The gem was cut into two highly significant diamonds, which can be found in the British Crown Jewels.

Cullinan-Dream is now a cut-cornered rectangular mixed-cut fancy intense blue diamond, weighing approximately 24.18 carats.image www.worldwidediamonds.info

It is flanked on either side by a tapered baguette-cut diamond and set in a platinum ring, inscribed “Cullinan Dream”.

Since acquiring a majority stake in the mine in 2008, Petra Diamonds has found some high-profile blue diamonds, including “The Blue Moon of Josephine,” which sold in November for $48.5 million and “The Star of Josephine” — a 7.03 carat polished stone that sold in 2009 for $9.49 million, representing what at the time was a world record price per carat of $1.35 million.

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