News – Page 136 – The Diamond Certification Laboratory of Australia (DCLA)

Petra Diamonds shares drop

More trouble for diamond miner Petra Diamonds yesterday after it warned it is heading into financial trouble with its lenders.

Petra has borrowed heavily to expand its operations in the country. The company is now likely to breach its banking covenants at the end of the year, because of the row with the government in Tanzania. As well as strikes at three of its mines in South Africa.

Petra diamonds is known for the size and quality of the diamonds produced at the famous Cullinan mine outside of Pretoria in South Africa.

13 Carat Diamond Sold By Merlin

Merlin Diamonds has a sold a rough white diamond for $157,880, or $11,898 per carat. The Rough Diamond was recovered at its mine in Northern Australia.

The Rough Diamond weighing 13.27 carats is of Gem quality and has D colour, in a statement by Merlin mine.

Merlin Diamond mine in Australia was acquired from Rio Tinto in 2004.

163ct D Flawless Diamond to be Auctioned at Christie’s

163ct. D Flawless Diamond at Christie’sAuction

The emerald cut diamond weighing 163.41 carats will be the largest D colour flawless diamond to appear at an auction.

The 404.20 carat “4 de Fevereiro,” alluvial rough diamond that Lucapa Diamond Company recovered is the largest rough diamond in history originating from Angola.

The Rough Diamond was recovered at Lulo mine in Angola in February 2016, and sold for $16 million USD later that month by Lucapa.

The auction will take place on November 14, in Geneva at the Four Seasons Hotel des Bergues .

Graff pays $53m for historic diamond

Laurence Graff of Graff Jewellers has purchased the 1,109 carat Lesedi La Rona rough Diamond.

Discovered by Canadian mining company Lucara Diamond Corp at the Botswana mine.

The diamond sold for USD $53 million.

The 1,109 gem is the world’s largest High quality rough diamond to be discovered in more than a century and the largest rough diamond in existence today.

Second only to the Cullinan which weighed 3,106.75 carats, and was discovered at the Premier No. 2 mine in , South Africa, on 26 January 1905.

Young Rough Diamonds Discovered

Geologists have discovered what they refer to as young diamonds, after analyzing a number of rough diamonds.

It now appears the creation of rough diamonds, may have occurred later in the Earth’s history than was previously thought. Diamond requires extreme temperatures and pressures to form. Geologists though these conditions only existed in the early formation of Earth.

Small impurities in the diamonds could indicate the conditions in which they are formed. So 26 diamonds donated by the De Beers Group where analyzed by a research team in Amsterdam.

Sm-Nd isotope techniques are used by researchers to analyzed the sampled garnet inclusions, Which are a common mineral found in Earth’s mantle and sometimes within the diamonds.

The scientists discovered two sets of diamonds, one of Archaean age 2.95 billion years old thought to be the original source of the diamonds. And then surprisingly the other of Proterozoic age 1.15 billion years old.

Alrosa Russian Diamond Miner Recovers 27.85 carat pink diamond

Exceptional Large Pink Diamond Discovered in Russia Could Be Most Expensive ever by Alrosa

Alrosa Diamond Mining is examining the rough and will decide on whether to sell it as a rough diamond, or cut and polish it in house.

The Rough Diamond is high quality and could make it Alrosa’s most expensive diamond if it decides to cut and polished the stone.

Chief Executive Officer Sergey Ivanov said Alrosa has mainly focused on rough diamond mining, will increase revenues from its polishing unit.

Botswana Wants Option to Buy Unusually Big Diamonds

The world’s second largest 1,109 carat rough diamond discovered two years ago, has prompted the Botswana government to amend the law giving it first option to buy unusually large diamonds.

Botswana’s success has been due to the rough diamond mines.

An official told a local newspaper that it referred to stones that were unusually large, were particularly clear or had a rare colour.

The price will agreed between the government and the producer, both parties with the current market price of the rough stones.

SELLING YOUR DIAMOND ?

If you are you considering selling your diamond, but feel as though you have no idea how or where to begin with the process?

This article will give you a few tips to help you along the way.

TIP #1 Diamonds are usually given to display love, making the sentimental value higher to the seller than the actual value to a buyer. Should you be in the market to sell your diamond, make sure you are ready to part with the diamond before beginning the process.

TIP #2 Be sure of the quality and authenticity of what you are trying to sell. Make sure of the quality and the grade of the stone. This is most important for the ultimate value of the diamond. There have been many instances where a seller is committed to selling their diamond only to find out the quality isn’t as described when originally purchased.

There are Jewellers or services available, who will give an unbiased assessment of your stone. But it is far more valuable in the long run to get a report from a recognised Laboratory.

It is also recommended to verify the report matches the Laser inscription before placing your diamond on the market, to assure your diamond is the same stone should it not sell.

TIP #3 Now that you have an accurate report of the quality, make sure you get a realistic selling value. Believing the diamond holds a higher value than it truly possesses will lead to a challenging, frustrating experience which can be dragged out.

An appraiser can assist you with determining a fair selling, price so you can avoid this pitfall. Diamonds are priced in US dollars, so your diamonds price will be affected when converted to your local currency.

A good way to see current retail values is to visit online stores like dcladiamondexchange.com.au or bluenile.com.

TIP #4 There are many ways to sell a preloved diamond or diamond jewellery. Research your selling options to make an educated decision that works best for you. Be it an online market or exploring options through a local jeweller or dealer, be sure you are using the best option for your needs.

Example, if time is not of the essence, an online market or an auction house could be the best way forward. If you want a quick sale, visiting your local dealer may be the best option.

DCLA Diamond Laboratory provides an internationally recognised and respected report to any seller or prospective buyer.

DCLA will provide you with an experience expert to advise you and give you the accurate value protecting you when selling. Our goal is to provide you with as much knowledge as possible.

Visit www.dcla.com.au for information advice or to make an appointment.

Or call us on 1300 413 425 or Sydney 02 92612104

Petra Diamonds suspends operations at its Tanzania mine

The Tanzanian governments confrontational approach to miners operating in the country including Petra Diamonds, has led to Petra suspending operations at its mine.

The Tanzanian government seized a shipment of rough diamonds belonging to Petra. They also question and held a number of staff in the latest assault on the African country’s mining sector.

This includes the concentrate exports ban and the non repayment of value added tax.

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