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Canadian latest diamond discoveries could fill pending supply void

Story by Paul Zimnisky of Diamond Analytics

On November 1st, De Beers said that it will be closing its nearly depleted Victor diamond mine in northern Ontario in early 2019. Victor is the first in a line of legacy diamond mines world-wide that will be closing over the next 5-years.

Most notably, Rio Tinto’s illustrious Argyle mine in Australia is expected to shut operations in 2021. At peak production, in the mid-90’s, Argyle produced over 40M carats annually. To put that into perspective, total 2017 global diamond output is estimated at less than 150M carats.

De Beers Voorspoed mine in Botswana is on pace to reach end-of-life by the end of the decade, and a slew of the company’s alluvial mines in Namibia are planned to be phased out by 2022.

With global diamond demand forecast to grow at approximately 3.5% annually over the next five years, driven by middle class consumers in Mainland China and India, the industry’s fastest growing large markets, a supply gap down the line seems inevitable if forecasts hold.

Globally there only two new diamond projects in the works with annual production potential of in excess of 1M carats, one in Angola, the other in Russia. Further, new diamond project exploration has been limited by challenges in the upstream diamond industry’s primary jurisdictions.

Greenfields diamond exploration in South Africa is at multi-decade lows due to delays in granting of prospecting licenses and perceived risks of a new Mining Charter, and this year there was a production disruption at the Williamson diamond mine in Tanzania related to government changes in mining legislation.

In Botswana, home to De Beers’ primary asset base, the country has been heavily explored and most major diamond discoveries are assumed to already have been made. In Russia, most major diamond production in is controlled by government entities.

Estimated global diamond production by nation in value in 2017. Total 2017 global diamond production estimated at $15.6 billion. Source: Paul Zimnisky
Notes: Asterisk notes G20 nation. Number inside parenthetical notes country’s ranking in Transparency International’s 2016 Corruption Perceptions Index (1-“very clean”, 176-“highly corrupt”). Dollar figure is estimated 2017 value of diamond production by nation. Percent figure is nation’s estimated contribution to global diamond production by value in 2017. All figures in USD.

This makes Canada, already the third largest diamond producing nation in the world by value (see chart above), arguably the most prospective diamond exploration jurisdiction in the world. In May of this year, Canada’s leading diamond producer, Dominion Diamond (private), pledged to spend C$50M on exploration over next 5 years, the company’s first major greenfields exploration since 2007.

After being acquired for US$1.2B in July by private-held the Washington Companies (at a 44% premium to where the stock was trading the day before initial indication of interest was made), on November 1st Dominion reiterated plans of “reinvigorating” exploration programs in Canada.

Dominion is partnered with North Arrow Minerals (TSX-V: NAR) on the prospective “Lac de Gras” property, which is located within a diamondiferous kimberlite field in the Northwest Territories that is the source to some of the richest diamond deposits in the world, including Dominion’s two world-class mines, Ekati and Diavik.

Dominion’s partner is known for making 2 of the only 5 kimberlite discoveries made in Canada over the last 5 years, and both of North Arrow’s discoveries were diamond bearing. Just last month North Arrow announced a discovery at the company’s 100%-owned Mel project in in the Nunavut territory of Canada. The company has plans to set up an exploration camp and drill the property next year.

Mel is approximately 200km northeast of the North Arrow’s 100%-owned Naujaat property which already has an inferred resource of over 26M carats and contains fancy yellow and orangey-yellow diamonds. In September, the company completed a C$2M drilling and mini-bulk sampling program at the property with results expected in the coming months. North Arrow also has pending results from a till sampling program at its Pikoo project, a 100%-owned diamond bearing kimberlite project in Saskatchewan that was discovered by North Arrow in 2013.

This coming March, Dominion will lead a drill program at the aforementioned Lac de Gras joint-venture (69% Dominion/31% North Arrow) in hopes of discovering new diamondiferous kimberlites. At around the same time North Arrow will also be drilling at its 100% owned Loki project, also in the Northwest Territories, and approximately only 30-40km away from both Ekati and Diavik.

With active programs across multiple worthy projects in Canada’s premier diamond territories, North Arrow appears well positioned to add to previous success and maintain its status as Canada’s leading publicly-traded stand-alone diamond explorer.

Disclosure: Paul Zimnisky has been compensated by North Arrow Minerals to produce the above content. The content includes views that are based on observations and opinions. The author has made every effort to ensure the accuracy of information provided, however, accuracy cannot be guaranteed. The above content is strictly for informational purposes and should not be considered investment advice. Consult your investment professional before making any investment decisions. None of the parties involved accept culpability for losses and/or damages arising from the use of content above.

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Henry Sapiecha

Decadent Diamonds from Sotheby’s Auction House

This spring, Sotheby’s presents the ultimate in coloured diamonds: Apollo and Artemis comprised of a blue diamond weighing 14.54 carats, internally flawless, type IIb, and a pink diamond weighing 16.00 carats, VVS2 clarity, type IIa. The stones are currently mounted as a spectacular pair of earrings, but are being offered separately, on account of their extreme rarity, power and presence. They are, says David Bennett, Worldwide Chairman of Sotheby’s International Jewellery Division, “by far the most important pair of earrings ever offered at auction.”

pink-blue teardrop dimond earrings image www.worldwidediamonds.info

The Apollo and Artemis Diamonds. Exceptional fancy vivid blue diamond. Estimate CHF38,125,000–50,160,000 ($38,000,000–50,000,000). Important fancy intense pink diamond. Estimate CHF12,545,000–18,060,000 ($12,500,000–18,000,000). To be offered in Magnificent Jewels and Noble Jewels on 16 May in Geneva.

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The CTF Pink Star. Sold for HK$553,037,500 ($71,200,000).

PINK-STAR-DIAMOND IMAGE www.worldwidediamonds.info

On 4 April 2017 in Hong Kong, Sotheby’s set a new auction record for any diamond or jewel when The Pink Star, a 59.60-carat oval fancy vivid pink internally flawless diamond – the largest Internally Flawless, Fancy Vivid Pink diamond that the GIA has ever graded – sold to renowned jeweller Chow Tai Fook, who has renamed the stone the CTF Pink Star. Not only was the price more than double the previous record for a fancy vivid pink diamond, but it was also a new record for any work ever sold at auction in Asia.

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Rare platinum, fancy vivid green diamond and diamond ring. Estimate $1,000,000–1,500,000. To be offered in Magnificent Jewels, Including the Legendary Stotesbury Emerald on 25 April in New York.

rare-platinum-fancy-vivid-green-diamond-and-diamond-ring.image www.worldwidediamonds.info

In the elite world of fancy coloured diamonds, green and red are by far the rarest body colours. The appearance of green in a diamond is caused by millions of years of exposure to a source of natural irradiation in the earth, either among uranium compounds or percolating groundwater, which changes its specific absorption of light. Our upcoming New York sale presents a cut-cornered square mixed-cut Fancy Vivid Green diamond weighing 1.64 carats, flanked by two cut-cornered triangle-shaped diamonds weighing approximately .65 carats.

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Fancy intense purplish pink diamond ring, Piaget. Estimate CHF78,030,000-12,040,000 ($8,000,000-12,000,000). To be offered in Magnificent Jewels and Noble Jewels on 16 May in Geneva.

Fancy intense purplish pink diamond ring 7.04 carats image www.worldwidediamonds.info

Another exceptional colourful diamond on offer this spring in Geneva, this ring is set with a modified rectangular brilliant-cut fancy intense purplish pink diamond, weighing 7.04 carats, VS1 Clarity, type IIa, between triangular diamond shoulders.

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Extraordinary pair of platinum and diamond earrings. Estimate $4,500,000–5,500,000. To be offered in Magnificent Jewels, Including the Legendary Stotesbury Emerald on 25 April in New York.

diamond earrings feature two square emerald-cut diamonds, weighing 20.29 and 20.02 carats, topped by two smaller square emerald-cut diamonds weighing 1.01 carats each image www.worldwidediamonds.info

These earrings feature two square emerald-cut diamonds, weighing 20.29 and 20.02 carats, topped by two smaller square emerald-cut diamonds weighing 1.01 carats each.

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The Unique Pink. Sold for CHF30,826,000 ($31,561,200).

unique-pink-diamond-Weighing 15.38 carats, the “Unique Pink image www.wordwidediamonds.info

Weighing 15.38 carats, the “Unique Pink” is a Type IIa brilliant cut diamond with unparallelled saturation. Until this April, when Sotheby’s Hong Kong sold the CTF Pink Star, the largest fancy vivid pink diamond ever offered at auction for a record-setting price, the Unique Pink held the world auction record for any fancy vivid pink diamond. It also contributed to the May 2016 Geneva sale of Magnificent Jewels and Noble Jewels sale becoming the new world record for any jewellery auction.

De Beers Millennium Jewel 4. Sold for HK$248,280,000 ($32,013,223).

De Beers Millennium 10.10 carat blue diamond image www.worldwid3ediamonds.info

To celebrate the Millennium in 2000, De Beers, together with The Steinmetz Group, showcased an exceptional collection of eleven important blue diamonds, the De Beers Millennium Jewels, in a specially designed exhibit at London’s Millennium Dome. Offered for sale from an Asian private collection, this rare and internally flawless 10.10-carat blue diamond is the largest oval-shaped fancy vivid blue diamond ever to appear at auction and was the most expensive diamond ever sold in Hong Kong before the CTF Pink Star in April 2017.

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The Graff Pink. Sold for CHF45,442,500 ($46,158,674).

The Graff Pink diamond 24.78 carats image www.worldwidediamonds.info

Type IIa pink diamonds are very rare in nature, but this fancy intense pink round-cornered rectangular step-cut diamond weighing 24.78 carats, set between shield-shaped diamond shoulders, is a perfect, pure pink colour, which has been graded “fancy intense pink” by the GIA with no secondary colour modifier. Adding to this diamond’s exquisite nature is its classic emerald cut – a style most associated with white diamonds – that is immensely sought-after in rare colours. According to the consignor, the stone had not appeared on the open market since it was first purchased some 65 years ago from Harry Winston himself. In 2010, Laurence Graff bought the diamond and renamed it The Graff Pink.

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Magnificent oval diamond 118.28 carat, D colour, flawless, type IIA. Sold for HK$238,680,000 ($30,782,560).

Magnificent oval diamond 118.28 carat, D colour, flawless, type IIA image www.worldwidediamonds.info

Unearthed in 2011 from the deep mines in Southern Africa, the 299-carat rough of this oval diamond is one of the largest and most beautiful diamond roughs found in recent years. Carefully and meticulously worked over months, the unrefined stone was transformed into a mesmerising 118.28-carat unmounted, brilliant-cut diamond. When sold at Sotheby’s Hong Kong in 2013, it became the world record for any white diamond at auction, as well as the biggest diamond ever sold at auction.

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The Lady Dalal. Sold for CHF11,282,500 ($12,361,558).

The Lady Dalal 110.03 carat yellow diamond image www.worldwidediamonds.info

Polished diamonds over 100 carats of any colour, weak or strong, are rare, which makes this 110.03-carat yellow diamond all the more impressive. The Sun-Drop, the largest known fancy vivid yellow pear-shaped diamond, was unveiled to the world at London’s Natural History Museum where it was exhibited in the famous Vault Gallery in 2011. After being sold at Sotheby’s Geneva the same year, it was renamed The Lady Dalal.

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The Blue Moon of Josephine. Sold for CHF48,634,000 ($48,468,158).

The Blue Moon of Josephine 12.03 carats vivid blue diamond image www.worldwidediamonds.info

Smashing all records, the Blue Moon Diamond, renamed The Blue Moon of Josephine, sold in November 2015 at Sotheby’s Geneva for over $4 million per carat – the world auction price-per-carat record for a diamond or gemstone. “After seeing the stone’s colour and understanding its significance, it was fitting to name it the Blue Moon Diamond,” noted Suzette Gomes, CEO of Cora International. “Not only its shape is reminiscent of a full moon,” she said of the cushion-shaped fancy vivid blue 12.03-carat diamond, “but the metaphor for the expression is exactly what one could say about the occurrence and existence of such a gemstone.”

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A spectacular emerald-cut diamond. Sold for $22,090,000.

emerald-cut diamond 110.20 carat white diamond image www.worldwidediamonds.info

Only six perfect diamonds weighing over 100 carats have sold at auction in the last 25 years. Sotheby’s sold five of those spectacular stones at sales in Geneva, Hong Kong, and New York, where in April 2015, this jaw-dropping 100.20-carat, type IIa diamond was offered. The classic, emerald-cut diamond’s D colour and internally flawless clarity are exceptionally rare at this scale.

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Superb and highly important fancy vivid purple-pink diamond and diamond ring, mounted by Sotheby’s Diamonds. Sold for HK$137,880,000 ($17,778,247).

fancy vivid purple-pink diamond and diamond ring 8.41 carats pear shaped image www.worldwidediamonds.info

This ring centres an 8.41-carat, pear-shaped, type IIa pink diamond, shown here, which is prized not only for its sweet, intensely saturated hue, but also for its internally flawless clarity. With a stylised mount pavé-set throughout with circular-cut diamonds, this jewel sold at Sotheby’s Hong Kong in 2014.

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The Beau Sancy. Sold for CHF9,042,500 ($9,678,188).

The Beau Sancy 34.98 carat double rose cut diamond image www.worldwidediamonds.info

Before this 34.98-carat modified pear double rose-cut diamond sold at Sotheby’s Geneva in 2012, its first royal owner was Marie de Medici, the wealthiest heiress in Europe, who in 1600 married Henri IV, considered the greatest king ever to rule France. Descending from the Medici through her father, Francesco, Grand Duke of Tuscany, who gave her this gem, she was not only rich but very grand. Cut and polished towards the end of the 16th century, the Beau Sancy also exhibits the first attempts to liberate the “fire” inherent in the stone – a property of diamond so admired today

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The Zoe Diamond. Sold for $32,645,000.

zoe diamond magnificent and rare 9.75-carat fancy vivid blue diamond pendant image www.worldwidediamonds.info

In the November 2014 sale of the Collection of Mrs Paul Mellon, collectors eagerly vied for jewellery and objects of vertu that evoked her celebrated style. After 20 minutes of competitive bidding, Mrs Mellon’s magnificent and rare 9.75-carat fancy vivid blue diamond pendant sold for more than double its high estimate, driving the 98%-sold auction total to $218 million. It was renamed The Zoe Diamond.

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Magnificent diamond. Sold for CHF12,597,000 ($14,201,354).

70.33-carat cushion brilliant white diamond image www.wordwidediamonds.info

Introduced at the beginning of the 20th century, the modern cushion-cut derives from ancient cushion-cut diamonds, sometimes referred to as “old mine” cuts. This magnificent 70.33-carat cushion brilliant diamond has not only received the highest colour and clarity grade from the GIA for white diamonds – D colour and flawless clarity – but it also is a type IIa diamond.

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The Graff Vivid Yellow. Sold for CHF14,501,000 ($16,347,847).

The Graff Vivid Yellow 100.09 carat diamond image www.worldwidediamonds.info

Of exceptional beauty and extraordinary fire, this brilliant gem is one of the largest fancy vivid yellow diamonds in the world. It is listed in Ian Balfour’s book Famous Diamonds as one of the few rare yellow diamonds greater than 100 carats. The 100.09-carat brilliant fancy vivid yellow diamond, which can also be detached and worn as a pendant, was sold at Sotheby’s Geneva in 2014.

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‘The Historic Pink’ magnificent fancy vivid pink diamond ring. Sold for CHF14,810,000 ($15,903,422).

'The Historic Pink' magnificent fancy vivid pink diamond ring. 8.72 carats image www.worldwidediamonds.info

This exceptional vivid pink Type IIa diamond, formerly in the collection of American heiress Huguette Clark, was mounted as a ring by Dreicer. Set with a cushion brilliant-cut fancy vivid pink diamond weighing 8.72 carats, this ring sold most recently in 2014 at Sotheby’s Geneva.

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Exceptional pear-shaped diamond. Sold for $14,165,000.

Exceptional pear-shaped white diamond 74.79 carats image www.worldwidediamonds.info

At 74.79 carats, this unmounted type IIa diamond has it all: D colour, VVS1 clarity, and it is potentially internally flawless.

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Henry Sapiecha

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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Henry Sapiecha

Pear-shaped 15.38ct pink diamond sells for $42.8 million at Sotheby’s Auction house

pink-diamond weighed in at 15.38 carats image www.worldwidediamonds.info (3)

“The Unique Pink”, the largest Fancy Vivid Pink pear shaped diamond ever offered at an auction.

Geneva:  A rare pear-shaped vivid pink diamond fetched 30.8 million Swiss francs ($42.8 million) at auction on Tuesday, Sotheby’s said, but several other large stones failed to reach the reserve prices set by the sellers.

The “Unique Pink”, weighing 15.38 carats and mounted on a ring, sold to an Asian private collector bidding by telephone, the auction house said.

It was the star lot at the saleroom’s semi-annual auction in Geneva, with a pre-sale estimate of $38 million to $51 million.

pink-diamond weighed in at 15.38 carats image www.worldwidediamonds.info (2)

The diamond weighed in at 15.38 carats.

“The Unique Pink set a new world record for a fancy vivid pink diamond … It’s the highest price ever paid for a fancy vivid pink diamond,” David Bennett, worldwide chairman of Sotheby’s international jewellery division, told reporters.
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The “Sweet Josephine”, a fancy vivid pink diamond weighing 16.08 carats, held the previous record since selling for $38.9 million at rival Christie’s in November, and still retains the price per carat record in the category.

Overall, the Sotheby’s sale netted $238 million, “setting a new world record for any jewellery auction”, Sotheby’s said in a statement. It eclipsed $218 million set a year ago.

pink-diamond weighed in at 15.38 carats image www.worldwidediamonds.info

The rare diamond set a new world record. Photo: Kirsty Wigglesworth

In all, 83.2 per cent of the 488 lots on offer found new owners, but “The Emperor Ruby” was among those stranded, with a bid of 3.6 million francs ($5 million).

“There were a few stones that were disappointing but overall the sale was a huge success,” Bennett said.

A British collection of 29 jewels by French jeweller Cartier sold for $4.6 million, doubling its low estimate, he said.

A “new world record” was set for a jewel by the late Paris-based jeweller Alexandre Reza – a fancy intense blue diamond brooch surrounded with diamonds sold for $18.3 million, he said.

“We’ve made a great effort to put together a sale that we thought was suitable for this particular market which is strong for the right things,” Bennett said. “It seems to have paid off.”

Ehud Arye Laniado, chairman of New York-based Cora International LLC, which cut, polished and sold the pink diamond, told Reuters in the showroom: “It was the time to sell. It is quite a strong price.

“We think slowly the market is grouping together with people who do believe in strong prices for fancy coloured diamonds. It is a good sign because we see people who do believe in the resale value of those stones, like art,” he added. “The trend will move to white diamonds.”

Reuters

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Henry Sapiecha

This is the 68-carat diamond Lucapa just found at its Lulo mine in Angola Africa

this-is-the-68-carat-diamond-lucapa-just-found-at-its-lulo-mine-in-angola image www.worldwidediamonds.info

Australia-based Lucapa Diamond (ASX:LOM) has recovered another major rock from trial mining at E46 alluvial terraces — a new area at its Lulo mine, in Angola.

The 68.1-carat gem-quality diamond is one of eight “significant” rocks found at the site, located about 10 km upstream from the alluvial Mining Block 8 and 6, from which Lucapa has been mining diamonds since the firm began commercial operations in January last year.

lucapa-diamond-at-lulo image www.worldwidediamonds.info

(Image courtesy of Lucapa Diamond)

According to the miner, the finding highlights the potential for widespread recovery of large gems from its Lulo mine, considering the largest individual diamond recovered from the initial exploration bulk sampling phase conducted in the area weighed just 6.9 carat.

Lulo, about 700 kilometers (435 miles) east of Angola’s capital Luanda, is a joint venture between the company and the Angolan government. Lulo is located 150km from Alrosa’s Catoca mine, the world’s fourth largest diamond mine.

The mine hosts type-2a diamonds which account for less than 1% of global supply and, according to Lucapa, the world’s most famous large, white, flawless diamonds belong to this category.

lucapa-exploration-at-lulo-map image www.worldwidediamonds.info

(Image courtesy of Lucapa Diamond)

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.

The government has recently reduced taxes and cut state ownership requirements as it seeks to rekindle the industry after the global financial crisis forced mines to close.

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Henry Sapiecha

A small Australian diamond miner just found this huge gemstone in Angola

angola-diamond-image www.worldwidediamonds.info

The 404.2 carat Type IIa D-colour Lulo gem

An Australian mining company has just announced the discovery of an enormous 400-carat diamond, and its shares are going wild.

The find – the biggest diamond ever unearthed in Angola – was announced by the Perth-based Lucapa Diamond Company. A short time ago, the company’s shares were up 32% to $0.425.

The gem is 404.2 carats, or about 80 grams, in weight and is the fourth 100+ carat diamond recovered from the Lulo diamond project in Angola’s Lunda Norte province.

The diamond is the 27th biggest recorded in the world and the biggest discovered by an Australian company.

The previous record for Angola’s largest diamond belonged to the Angolan Star, a 217.4 carat gem recovered in 2007.

Based on recent average prices, the latest diamond is worth more than $800,000 just on its weight alone. Cut and mounted into a piece of jewellery, the price would run into many millions.

The alluvial Mining Block 8 at Lulo, which has already produced more than 60 large special diamonds since mining started there in August 2015. The previous largest diamond recovered at Lulo weighed 133.4 carats.

Over the 12 months since the company started operations at Lulo, 10,372 carats have been recovered, not including the latest find. In the December quarter, the company recorded diamond revenues of $8.1 million at record quarterly average selling prices of $2141 per carat.

CEO Stephen Wetherall says Lucapa and its partners Endiama and Rosas & Pétalas are extremely proud to have recovered such an exceptional world-class diamond.

“We have always emphasised the very special nature of the Lulo diamond field and this recovery — together with the other 100 carat-plus diamonds recovered this year alone — is further evidence of that,” he says.

“And while we continue mining these exceptional alluvial gems from Mining Blocks 6 and 8 at Lulo, we are also continuing to advance our systematic exploration program to find the kimberlite source of these diamonds.”

Kimberlite is a type of rock desposit where diamonds form.

The company is essentially finding diamonds as it digs trenches in search of the core of the diamond source, the kimberlite pipe.

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Henry Sapiecha

Rio uncovers large diamond as prices set for decline

diavik-foxfire.rio tinto rough diamond image www.worldwidediamonds.info

Rio Tinto has unveiled a 187.7 carat rough diamond, as miners predict a decline in rough diamond prices ahead.

The diamond, one of the largest ever discovered in Canada, has been called the Diavik Foxfire, and was uncovered at the Diavik mine just 220 kilometres south of the Arctic Circle.

The unveiling of the rough diamond comes as prices for the stones decline.

Rio Tinto Diamonds managing director, Jean-Marc Lieberherr, explained the reduction in demand from China coupled with a lack of available credit in the industry has wreaked havoc on the sector.

“There is a need for the rough prices to adjust to the economic value of the polished price and that trend is in motion at the moment,” Lieberherr told Bloomberg.

Prices for rough diamonds have fallen by nearly a fifth this year, and expected to continue falling for a sixth quarter.

However there is an expectation that this current situation will reverse mid-next year, as traders and cutters begin releasing supply.

“The polished pipeline is a little bit overloaded and it will probably take until about the middle of next year to come back to normal levels,” Lieberherr stated.

“The last 12 to 18 months have been tough for the industry.”

The larger producers, De Beers and Rio Tinto, have all lowered production in an effort to support prices, while Australian diamond magnates are facing financial difficulties in the low market.

Late last month the second largest single diamond ever – a 1111 carat stone – was uncovered.

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Henry Sapiecha

Synthetic diamonds can be used in MRI scan to detect early stage cancers

clear rbc white diamond image www.worldwidediamonds.info

Synthetic diamonds can be used in MRI scan

Diamonds are considered as one of nature’s most beautiful inventions, but a new study published in the journal Nature Communications reveals these precious gems they are much more valuable than that, able to help detect early stage cancer.

An Australian research team led by Ewa Rej from University of Sydney discovered a method to use synthetic diamonds in MRI scans to identify cancerous tumours before they become life-threatening. “By attaching hyperpolarized diamonds to molecules targeting cancers the technique can allow tracking of the molecules’ movement in the body,” explained Rej.

Researchers already knew nano-diamonds hold non-toxic properties allowing them to deliver drugs during chemotherapy treatments, and decided to focus on hyperpolarizing the small stones so their signal is detectable by an MRI scanner.

“We thought we could build on these non-toxic properties realising that diamonds have magnetic characteristics enabling them to act as beacons in MRIs,” commented David Reilly from the university in an interview to the Business Standard.

MORE HERE >> www.newcures.info

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Henry Sapiecha

Coronet Gets Guinness World Record for $2 Million Diamond Guitar

Diamond

Hong Kong-based Jewelry brand Coronet celebrated its first appearance in Baselworld with a bang: the company partnered with Chow Tai Fook and designer Mark Lui to create a $2 million Diamond Gibson Guitar, and entered the Guinness Book of Records as the maker of the most valuable guitar ever made.

Named “Eden of Coronet”, the guitar is adorned with over 400 carat diamonds set in approximately 1.6kg of 18k gold.

According to Coronet, the guitar took a team of 68 people to produce, adding up to 700 work days to complete.

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Henry Sapiecha

Russian diamond mining giant Alrosa Q3 output drops

Rough diamonds at the Mirny Sorting Center, Republic of Sakha, Russia. ALROSA. image www.worldwidediamonds.info

Russian Alrosa, the world’s largest diamond producer by carat, said Monday its third-quarter production dropped 2% as a consequence of a shift to underground production at one of its mine in the country’s Far East.

The company’s total diamond production for the quarter reached 9.7 million carats, slightly down from 9.9 million carats in the same period a year ago, Alrosa said in the statement.

“The production decrease was mainly driven by the reduction in ore processing at the Udachnaya pipe in line with the company’s plan for the transition to underground mining at the deposit,” the miner said.

Alrosa’s rough diamond sales were up 8% for the first nine months of 2014 compared to the same period last year at 28.8 million carats or $3.7 billion.

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Henry Sapiecha

pink diamonds line image www.worldwidediamonds.info