Category Archives: ROUGH DIAMONDS

Alrosa Russian Diamond mine finds gigantic pink diamond, likely its most expensive one

Russia’s Alrosa (MCX:ALRS), the world’s top diamond producer by output in carats, has unearthed 27.85-carat pink precious rock the company believes could be the most expensive it has ever found.

Alrosa is trying to decide on whether to sell this pink rock as a rough diamond, or cut and polish it.The miner, majority-owned by the Russian government, said the gem-quality stone was found at its alluvial mines in Russia’s Far East, adding that the largest pink diamond it had previously discovered was less than 4 carats in weight.

The impressive pink rock, measuring 22.47 mm x 15.69 mm x 10.9 mm, has very few flaws and could become the company’s most expensive polished diamond if it decides to cut it, Alrosa said in the statement.

Coloured diamonds, especially pink ones, have been lately setting records in auctions. In April, Sotheby’s sold a 59.6-carat one — the ‘‘Pink Star’’ — for $71.2 million. Until then, the most expensive diamond ever sold at auction was the “Oppenheimer Blue,” which fetched 56.8 million Swiss francs (more than $57 million at the time) in May 2016.

The previous world auction record for a pink diamond was $46.2 million for the 24.78 carat “Graff Pink” in 2010.

Alrosa noted that it is currently trying to decide on whether to sell this pink rock as a rough diamond, or cut and polish it.

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Henry Sapiecha

Worlds biggest diamond mine Alrosa has sold $2.5 billion in diamonds so far this year 2017

World’s largest diamond producer by output said market has refound its balance.

Russia’s Alrosa (MCX:ALRS), the world’s top diamond producer by output, said Monday it sold $2.5 billion worth of rough and polished precious rocks from January to June this year.2017

From that total, rough diamonds sales totalled $2.442 billion, and polished ones fetched $54.9 million, the company said.

Last month alone, the miner brought in $365 million in diamond sales — $354 million in rough rocks and $10.6 m. in polished ones.

Alrosa Vice President Yury Okoemov said the company considers the seasonal slowdown of June officially at an end, adding the rough diamond market is back to being balanced.

The company, which is planning to increase production by 6% to 39.2 million carats this year, appointed in March Sergei Ivanov, the son of a close advisor to Russian president Vladimir Putin, as its new president.

Henry Sapiecha

Lucara gets almost $18M for fragment of its massive ‘Lesedi La Rona’ diamond

Canada’s Lucara Diamond (TSX:LUC), the company that hit the jackpot in 2015 after finding the world’s second-largest diamond, just got $17.5 million for a piece that broke from that rock, the now historic 1,109-carat “Lesedi La Rona.”

To date, Lucara has sold 145 diamonds for more than $1 million each.The 373.7-carat diamond, sold during the Vancouver-based miner’s $54.8 million recent tender to luxury jeweller Graff Diamonds, was one of 15 large and high value rocks offered by the company.

Just like the 1,109-carat diamond it found in 2015, all the stones sold this week were mined at Lucara’s Karowe mine in Botswana, which has been yielding massive rocks as of late.

Last year, the miner sold one of those mammoths — the 813-carat “The Constellation” — for $63 million, setting a new record for a rough gem.

It wasn’t that lucky when it came to three-billion-year-old “Lesedi La Rona,” meaning “our light” in the Tswana language spoken in Botswana, as the rock failed to sell at a Sotheby’s auction in June last year.

This is the 373.72-carat rock, once part of the second largest gem quality diamond ever discovered. (Image courtesy of Graff Diamonds.)

The gem, second in size only to the Cullinan diamond in the British Crown jewels, was expected to go for at least $70 million. The highest bid, however, was around $61 million, leaving it in Lucara’s hands.

To date, the company has sold 145 diamonds for more than $1 million each, bringing in revenues of more than $528 million, its President and CEO William Lamb said in the statement.

Botswana, the focus of Lucara, is the world’s largest producer of diamonds and the trade has transformed it into a middle-income nation.

Henry Sapiecha

HUGE 110 CARAT YELLOW DIAMOND UNEARTHED IN AFRICAN Liqhobong MINE

Shares in Africa-focused Firestone Diamonds (LON:FDI) shot up in London Wednesday after it announced it had unearthed an 110-carat yellow diamond, it’s biggest find so far, at its newly developed mine in Lesotho.

The company, which is just ramping up production at its Liqhobong operation, said the finding confirmed its belief that the deposit holds large stones.

Investors reacted positively to the news, with the stock climbing as much as 13% early in the day and trading 9.7% higher to 49.10p at 1:38PM GMT.

Firestone spent $185 million building Liqhobong, which boasts over 11 million carats in reserve. The total open pit resource contains over 17 million carats down to 393 metres.

Since production began at Liqhobong in October, and before today’s announcement, the company had recovered 20 stones larger than 10.8 carats, the industry cut off for an exceptional stone, including a 37-carat white diamond.

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Henry Sapiecha

Another large diamond dug from Lulo mine in Angola… 227-carat white rough

Weighing 227 carats, latest gemstone from Lucapa’s Angolan diamond mine is its second largest to date

lucapa_227-carat-diamond image www.worldwidediamonds.info

Big, valuable gemstones that may eventually get cut into smaller diamonds keep getting discovered in Angola.

Today Lucapa Diamond Company Ltd. (ASX:LOM) said it has uncovered yet another epic rock from its Lulo mine, the second largest to be pulled from deep inside the earth at Lulo.

According to Lucapa, the 227-carat stone was found in a new mining block, indicating that the entire 50-kilometre length of the Cacuilo River is diamondiferous.The stone weighing 227 carats, discovered by Lucapa and its partners, Empresa Nacional de Diamantes EP, and Rosas & Petales, is a Type IIa D-Colour gem. It’s the same type of diamond that Lucapa recovered in September, in that case weighing 172.6 carats. The largest diamond to come out of the mine was a 404.2-carat monster that Lucapa unveiled a year ago, and which Lucapa later sold for AUD$22.5 million. The huge rock bested Angola’s previous record for its largest diamond, the Angolan Star, a 217.4-carat gem recovered in 2007.

According to Lucapa, the 227-carat stone was found in a new mining block, indicating that the entire 50-kilometre length of the Cacuilo River is diamondiferous. The alluvial diamond area is among Lucapa’s 3,000 square kilometre Lulo concession, and has so far only been about 20% explored by Lucapa and its partners. The gem was discovered using a new XRT large-diamond recovery circuit recently installed at Lulo.

So far Lucapa has unearthed seven diamonds over 100 carats from the Lulo diamond project. Located 150km from Alrosa’s Catoca mine, the world’s fourth largest diamond mine, Lulo hosts Type IIa diamonds which account for less than 1% of global supply.

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.

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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.

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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

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Henry Sapiecha

Alrosa unearths 241.21-carat diamond, one of largest ever found in Russia

alrosa-unearths-241-21-carat-diamond-one-of-largest-ever-found-in-russia image www.worldwidediamonds.info

The diamond was found the Nyurbinsky open-pit mine, in Nakyn. (Image courtesy of ALROSA)

Russia’s Alrosa (MCX:ALRS), the world’s top diamond producer by output in carats, has unveiled the discovery of a 241.21-carat rough diamond at its Nyurbinsky open-pit mine.

The diamond is one of the largest ever recovered in Russia.

The precious rock, said the company, is one of the largest rough diamonds ever recovered in Russia and the third largest among those found by the company’s Nyurba Mining and Processing Division.

The massive diamond measures 38.64 mm by 27.34 mm by 25.46 mm, and is translucent with a grey hue. Traces of dissolution–etching channels and caverns–are observed on the surface.

The intermediate and peripheral zones have large cracks and the crystal contains graphite and sulphide inclusions, Alrosa said.

alrosa-241carats-diamond image www.worldwidediamonds.info

The massive diamond measures 38.64 mm by 27.34 mm by 25.46 mm, and is translucent with a grey hue. (Image courtesy of ALROSA)

The Nyurbinsky has been in operations since 2001. Identified reserves January last year amounted to 36.9 million carats.

The Nyurba Mining and Processing Division is one of Alrosa’s youngest divisions, in charge of the Nakyn ore field as well as the Nyurbinsky and Botuobinsky open-pit mines.

The state-owned diamond miner may be privatized as soon as this summer, Russian Economy Minister Alexei Ulyukayev said at the St Petersburg International Economic Forum on Thursday, according to Reuters.

www.www-gems.com

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Henry Sapiecha

Second largest diamond in the world does not reach reserve at auction

lesedi-la-Rona-main-tennis ball diamond www.worldwidediamonds.info

The world’s second largest diamond – the size of a tennis ball –  has failed to sell at Sotheby’s auction in London on Wednesday.

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Initially valued at more than CAD$90million, the highest bid for the 1109-carat diamond reached only $61 million.

diamond_huge-rough-image www.worldwidediamonds.info

The diamond, dubbed ‘Lesedi La Rona’, was discovered at Lucara Diamond Corp’s Karowe mine in Botswana last year and translates to ‘our light’ in the local language.

lucara-huge diamond image www.worldwidediamonds.info

Its size is second only to the Cullinan diamond which was cut into nine pieces to form part of the UK crown jewels.

DDD

Henry Sapiecha

Petra finds yet another huge diamond at its very productive Cullinan mine

petra-finds-another-massive-diamond-at-its-cullinan-mine 121.26-carat white rock image www.worldwidediamonds.info

London-listed Petra Diamonds (LON:PDL), already known for its major findings of recent months, has just unearthed a 121.26-carat white rock from its Cullinan mine in South Africa.

The gem is a Type II diamond “of exceptional colour and clarity”, the company said, and is “an outstanding example of the large, high quality diamonds for which the mine is known.”

The 121.26-carat white diamond, along with a number of other high quality stones, will be sold in the last tender of Petra’ 2016 financial year.While Petra did not provide a value estimation, it did say the freshly found rock, along with a number of other high quality stones, will be sold in the last tender of its 2016 financial year.

Last week, a 24.18-carat intense blue diamond known as The Cullinan Dream, which Petra found in 2014, sold for $25.4 million in New York, breaking all records and becoming the most expensive gem of its kind ever sold at auction.

The Cullinan mine, located north-east of Pretoria, has yielded several massive gems, including the largest rough gem diamond ever discovered — the Cullinan. The 3,106-carat stone was cut into two highly significant diamonds, which can be found in the Crown Jewels of the Queen of England.

Petra, which operates four diamond mines in South Africa and one in Tanzania, posted a loss for the first half of its financial year in February, due to fewer sales demand and a glut of supply that pushed rough diamond prices down by 9%.

www.gem-creations.com

www.www-gems.com

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petra-diamonds-cullinan-mine image www.wordwidediamonds.info

DDD7

Henry Sapiecha