Lab Grown Diamond – Page 8 – The Diamond Certification Laboratory of Australia (DCLA)

Lucara Sells Digital Sales Platform to ex-CEO

Canadian miner Lucara has sold Clara, its digital sales platform, to former CEO Eira Thomas and a group led by the Vancouver-based HRA Group of Companies.

The move gives Clara’s new owners the freedom to sell other diamonds, in addition to those produced by Lucara at its Karowe mine, in Botswana. It also allows Lucara to focus on the underground expansion of the mine.

Thomas, who stood down last August as Lucara CEO, led the commercialization of the Clara. She said it was designed to disrupt the way diamonds are traded after a century of inefficiency and inflexibility.

Clara’s new owners – HRA and Thomas – will pay $3m in cash and return 10,000,000 Lucara common shares initially issued as partial consideration when Lucara originally acquired the platform in 2018.

“We are excited about the opportunity to realize its full potential, which remains largely unexplored,” said Aaron Ariel, managing director and original founder of Clara.

“We believe it will become the industry’s premier global rough-diamond marketplace. We look forward to partnering with stakeholders throughout the supply chain who share our vision for a healthier, more transparent, and, last but certainly not least, a more profitable industry for all.”

Lucara will retain a 3% net profit interest on Clara’s net earnings and has granted Clara a five-year rough diamond supply agreement for stones meeting the size and quality specifications historically sold through the Clara platform.

Lucara’s larger stones – those over 10.8-cts – are sold via HB Antwerp as part of an ongoing 10-year agreement. They account for around 70 per cent of the company’s revenue.

William Lamb, president and CEO of Lucara, said: “The divestiture of Clara enables us to intensify our strategic focus on maximizing returns and long-term value creation at our world-class Karowe diamond mine in Botswana.

“While the Clara platform provides an innovative digital channel for rough diamond sales, the successful onboarding of other producers’ rough production required to scale the platform, remains unattainable while the platform is owned by a pure-play diamond producer.”

Source: Idex

Angola Seizes 710 Rough Diamonds from Three Guineans

The Criminal Investigative Service (SIC) in Angola seized 710 diamonds of different carats on Sunday in Lucapa, a municipality in the northeastern Lunda-Norte province of Angola.

According to Graciano Lumanhe, the SIC spokesperson in Lunda-Norte, three individuals from Guinea Conakry were found in possession of the diamonds.

Angola Seizes 710 Diamond Stones From Three Guineans
In addition to the diamonds, the officers also discovered a diamond weighing scale, two calculating machines, magnifying glasses, a sieve, and $860 and 68,000 kwanzas in cash during the operation.

All the evidence has been submitted to the Office of the Public Prosecutor as part of the preparations for criminal proceedings against the three suspects.

Source: Newscentral.africa

4ct. Pink Diamond Takes Spotlight at Sotheby’s

A fancy-pink diamond pendant is set to headline an upcoming jewelry auction at Sotheby’s in Paris, where it is expected to fetch up to EUR 550,000 ($612,797).

The cushion-cut, 4.03-carat diamond piece will feature at the October 10 Fine Jewels sale, according to the Sotheby’s website. The auction will also offer jewels from Cartier, Van Cleef & Arpels, and Giovanni Ferraris.  

Additionally, the event will showcase more than 80 pieces from the collection of British singer Dame Shirley Bassey, including diamond jewelry Elton John gifted her.  

Here are the rest of top 10 jewels that will be auctioned:  

This Cartier Tutti Frutti bracelet designed as a band of articulated branches —embellished with carved emeralds, rubies and emerald beads drill-set with single-cut diamonds — carries a top estimate of EUR 450,000 ($501,395).

A necklace from the Shirley Bassey collection composed of a row of graduated brilliant-cut diamonds, with the main ones weighing 5.50, 5.36, and 4.61 carats, could sell for up to EUR 280,000 ($311,798).

gold and diamond Cartier set comprising a necklace, two bracelets, a pair of ear clips, and a ring image — Sotheby’s will offer this gold and diamond Cartier set comprising a necklace, two bracelets, a pair of ear clips, and a ring, each paved with brilliant-cut diamonds, for a high price of EUR 260,000 ($289,687).

gold and diamond Cartier set comprising a necklace, two bracelets, a pair of ear clips, and a ring — A David Morris ring bearing a rectangular step-cut, 7.15-carat diamond of F color and internally flawless clarity, flanked by tapered baguette diamonds, is expected to bring in EUR 140,000 to EUR 250,000 ($155,990 to $278,554).

This sapphire and diamond bracelet by Van Cleef & Arpels forms a stylized buckle set with a row of oval sapphires framed by brilliant-cut diamonds. It has a presale range of EUR 140,000 to EUR 240,000 ($155,990 to $267,410).

ring with a pear-shaped, fancy-brownish-yellow diamond image — **This ring with a pear-shaped, fancy-brownish-yellow diamond weighing 20.03 carats could achieve as much as EUR 220,000 ($245,116).**

**A necklace composed of openwork and oval motifs, each set with an oval sapphire within a double surrounding of brilliant-cut diamonds, has an upper price of EUR 180,000 ($200,540).**

diamond ring with marquise-shaped diamond shoulders image — **A 21.17-carat, fancy-light-brown-yellow, SI2-clarity diamond ring with marquise-shaped diamond shoulders is anticipated to realize up to EUR 170,000 ($189,415).**

**This claw-set ring with a rectangular step-cut, 5.06-carat diamond flanked by triangular diamonds carries a high estimate of EUR 150,000 ($155,990).**

Lightbox Launches New Campaigns – Despite Ending Production

The wholly-owned De Beers-owned subsidiary says it has enough existing lab grown diamonds inventory to keep it going for the time being.

Lightbox has just launched new campaigns for its lab grown diamonds – despite its announcement in June that it was halting production.

The wholly-owned De Beers-owned subsidiary says it has enough existing inventory to keep it going for the time being.

The production facility in Portland, Oregon, USA, is now being used to manufacture industrial diamonds by Element Six, also owned by De Beers.

“Lightbox has sufficient existing inventory from Element Six to meet the brand’s needs for the foreseeable future,” a company spokesperson told IDEX Online.

“At JCK (in June), we communicated that Element Six (our synthetic diamond industrial business which had also been producing LGDs for Lightbox) would suspend production of LGDs for jewellery to focus on high-tech industrial applications.

“However, Lightbox as a brand is continuing as it plays an important role in supporting the differentiation between LGDs and natural diamonds as LGD prices continue to decline and they are increasingly used in fashion jewellery.

“The latest Lightbox campaigns, referenced in the email below, reinforce this as they focus on foregrounding the message of Lightbox’s recently lowered per carat pricing and its fashion-forward approach to product design.

Lightbox says its new Fall campaigns – Shine Bright Spend Less and Modern Family – reflect the brand’s focus on fashion jewelry and accessible pricing.

Melissa Crivillaro, Lightbox’s chief marketing officer, said: “Our accessible prices, our fun and colorful innovations, and our fashion-focused lab-grown diamond jewelry collections underpin Lightbox’s broad appeal.

“As we lean into our next chapter with a revived identity, new creative campaigns and bold price messaging, we look to connect more deeply with our customers.”

Source: Idex

Yellow Gold Is Hot, Diamonds Are Not At Hong Kong Jewelry Trade Show

The pulse of the jewelry industry and its relationship with the constantly changing world is reflected each year at Jewellery & Gem World Hong Kong (JGWHK).

This year the annual jewelry trade show attracted more than 3,300 exhibitors, a 5% decline from 2023, according to Informa Markets, which owns and operates the fair. Although final buyer numbers aren’t available, walking the floors on the first four days, it’s easy to see that foot traffic was down as well. Still the show is expected to attract about 50,000 visitors.

Buyers in the Fine Design Pavilion of Jewellery & Gem World Hong Kong 3,300 exhibitors — *Buyers in the Fine Design Pavilion of Jewellery & Gem World Hong Kong*

More important than the numbers themselves is what they represent. A major typhoon in the Shanghai area a few days before the show began meant many exhibitors and buyers from the area could not immediately make the trip to Hong Kong. Obviously, war in Ukraine and in Gaza has kept people in these regions from attending. After years of exponential growth, the U.S. jewelry market has softened, partly due to the upcoming presidential election. The China market has softened as well, reflecting the country’s overall economic challenges. These are the two largest markets in the world for jewelry. Then for the first time in memory, the fair coincided with the Mid-Autumn Festival on September 18, which further reduced overall attendance, at least temporarily.

For a fair that has been held during trade wars, citywide political protests and a once-in-a-century typhoon, these distractions were mild by comparison. Through it all JGWHK remains, by far, the largest jewelry trade fair in the world, and for good reason.

Read full article: forbes.com

India’s Polished Exports Fall Again in August

India’s exports of polished diamonds fell by 23.8 per cent year-on-year in August, according to the latest figures from the GJEPC (Gem and Jewellery Export Promotion Council).

Total foreign sales were $1.04bn, compared to $1.36bn last August. Exports in July were $908m, down 22.7 per cent.

Polished diamond exports have fallen every month this year, down 20 per cent in January, 28 per cent in February, 27 per cent in March, 17 per cent in April, 15 per cent in May and 26 per cent in June. All figures are for US dollars.

Gross exports of all gems and jewelry fell by 18.8 per cent during August – a slower rate of decline than diamonds – to $2.01bn.

Rough imports for the April to August period were down 22.6 per cent to $4.98bn.

Source: Idex

Gem Diamonds’ Letšeng mine yields 212 carat stone

Africa focused miner Gem Diamonds has found yet another big precious stone at its prolific Letšeng mine in Lesotho, the third greater than 100 carat diamond mined in September.

The 212.91 carat Type II white diamond was recovered on September 19th, the company said on Monday. It is the thirteenth diamond over 100-carat unearthed this year at the operation, it noted.

Type IIa diamonds are the most valued and collectable precious gemstones, as they contain either very little or no nitrogen atoms in their crystal structure.

The Letšeng mine, owned 70% by Gem Diamonds, is one of the world’s ten largest diamond operations by revenue. At 3,100 metres (10,000 feet) above sea level, it is also one of the world’s most elevated diamond mines.

The operation has a track record of producing large, exceptional white diamonds, which makes it the highest-dollar-per-carat kimberlite diamond mine in the world.

Source: mining.com

Lab Grown Discussions at AGS Confluence

Round Diamond Held in Tweezers Upright on Luxury Black Background.

The American Gem Society (AGS) will present panel discussions on lab grown diamond pricing and supply, advances in lab grown identification and the art of natural diamond storytelling.

The three-hour Confluence is an online-only event, featuring three pre-recorded sessions, designed to allow the speakers to take part in a live chat Q&A.

The event is scheduled for 25 September and will be accessible to non-AGS members for a $150 fee. The sessions will remain available, on demand, until 31 December.

The Importance of Diamond Screening: Challenges, Techniques, and Resources covers the latest screening technologies and their limitations, providing guidance on using gemological instruments for verification.

Laboratory-Grown Diamonds: Pricing, Supply, and Disclosure explores the complexities of the lab grown diamond market, including pricing dynamics and the importance of transparency.

And The Incredible Story of Natural Diamonds delves into the geological history and mining processes of natural diamonds, featuring insights from experts at GIA , which is sponsoring the event.

AGS is a nonprofit trade association representing a select group of jewelers, independent appraisers, and suppliers in the jewelry industry.

Source: IDEX

Tiffany Vacates Half its Flagship Shanghai Store

Shanghai,China-Oct.7th 2022: large Tiffany Co. flagship store at Huaihai Road with many walking people

Tiffany & Co. is reportedly vacating half of its 12,000 sq ft flagship store in Shanghai as luxury sales plummet in China.

The two-floor store (pictured), at the city’s Hong Kong Plaza, opened in 2019, with a bold design featuring almost 7,000 handcrafted glass diamonds.

But LVMH, the luxury conglomerate that owns Tiffany, has been hit by the economic slowdown globally and by government restrictions in China on ostentatious consumption.

In Q2 of this year LVMH posted a 14 per cent drop in sales for Asia (excluding Japan), which includes China. Profits globally for its watch and jewelry operations fell by 19 per cent during the quarter.

Tiffany will give up half the space at its Shanghai store later this month, according to a Bloomberg news report, and the landlord is in talks with potential new tenants.

It said Tiffany had asked property development and investment Lai Fung to reduce its rent.

Source: IDEX

Russia Increases Rough Exports to India

Rough diamonds imported from Russia to India

Russian exports of rough diamonds to India increased by well over a fifth, to 4.1m carats, during the first six months of the G7 sanctions.

Total sales were up by 22.23 per cent for January to June 2024, according to the Indian Ministry of Commerce and Industry. But revenue fell by 15.22 per cent, as prices keep declining, from $614m to $520m.

Russian exports for June alone were 347,620 carats, an increase of almost 32 per cent on the same month last year.

The G7 and EU nations imposed sanctions on all Russian diamonds of 1.0-cts and above, regardless of where they were cut and polished, from 1 January. The threshold was lowered to 0.50-cts and above from 1 September.

Rough diamonds imported from Russia to India can only be sold to markets beyond the G7 and EU.

India’s diamond industry has been calling on the government to allow direct payments to Russia so it can more easily buy sanctioned goods.

Source: IDEX