Monthly Archives: September 2016

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.

DDD7

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.

www.www-gems.com

www.gem-creations.com

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.

www.www-gems.com

www.gem-creations.com

Beautiful_Russian_4_300_250

Henry Sapiecha

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.

Beautiful_Russian_2_300_250

Henry Sapiecha

 

 

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.

www.www-gems.com

www.gem-creations.com

Hot_Russian_300_250

Henry Sapiecha