Oppenheimers sell De Beers diamonds stake

South Africa’s Oppenheimer dynasty has ended a century in the diamond business which shaped the region, selling its 40% of De Beers to global miner Anglo American for A$4.91 billion.

The historic deal will end the involvement of the Oppenheimer family in De Beers, and will take Anglo American’s stake up to 85 per cent. The government of Botswana owns the remaining 15 percent of De Beers and has an option to lift this to 25 percent.

“The transaction is a unique opportunity for Anglo American to consolidate control of the world’s leading diamond company, De Beers,” chief executive Cynthia Carroll said.
Nicky Oppenheimer, representing the Oppenheimer interests, said that the agreement had been “difficult” for the family to reach.

“This has been a momentous and difficult decision as my family has been in the diamond industry for more than 100 years and part of De Beers for over 80 years,” Nicky Oppenheimer said in the statement. “ After careful and deliberate consideration of the offer, and what is best in the interests of the family, we unanimously agreed to accept Anglo American’s offer.”

De Beers is a global leader in the mining, exploration, and marketing of diamonds.
 

Diamond Buying Workshop for Consumers

DCLA’s next  in-laboratory workshop on ‘How to Buy a Diamond’ is set for Friday December 2.

DCLA diamond experts will walk participants through How to Buy a Diamond during a 2-3 hour in-house workshop located at the actual DCLA Laboratory.

Diamond Buying workshop topics include:

•  Detailed explanation and hands-on evaluation of the 4C’s of diamond grading. Participants will take part in the grading process to learn how the quality and value of a diamond is established.

•  Choosing the diamond shape, size, and quality right for you

•How to shop for a diamond and questions to ask jewellers

•How to read, understand, and compare Diamond Grading Certificates when shopping

•Explanation and identification of diamond treatments, and how they affect value

•Explanation and identification of synthetic diamonds, and how they affect value

Participants will have ample opportunity to ask questions throughout the workshop.
Spacing is limited, contact DCLA on 1300 66 3252(DCLA) to register and reserve your place.

Next Workshop: Friday December 6 at 1pm
Cost of workshop: $210+GST

For Jewellers: Workshop for Diamond Sales Staff

DCLA diamond experts will walk participants through a diamond course specifically tailored for on-floor sales staff, in a hands on workshop presented at the DCLA Laboratory.

Consumers are becoming more discerning and better informed; the internet is full of information and misinformation that can confuse the diamond buying customer, and jewellers now more than ever need to have the right answers for the barrage of questions they face when potential customers walk through the door.

With these factors in mind, subject areas covered in the workshop include the following:

  • Detailed explanation and hands-on evaluation of the 4C’s of diamond grading. Participants will take part in the grading process to learn how the quality and value of a diamond are established.
     
  • Guiding consumers to the shape, size, and quality right for them.
     
  • Proper handling and presentation of loose diamonds for customer viewing.
     
  • Explanation and identification of synthetic and treated diamonds, and how value is affected.
     
  • How to read and explain Diamond Grading Certificates
     
  • Discussions regarding common consumer misconceptions and answering frequently asked questions with confidence, topics including:
    • Differences between diamond grading certificates
    • The influx of online retailers and managing price comparisons
    • Conflict diamonds and the Kimberly Process

Participants will have ample opportunity to ask questions throughout the approximate 6 hour workshop.

The next session will be conducted over the course of two consecutive afternoons:

Monday November 28th          1:00pm to 4:00 pm
Tuesday November 29th         1:00pm to 4:00pm

Cost: $640 plus GST

Spacing is limited, contact DCLA on 1300 66 3252 (DCLA) or email [email protected] to register.

Custom tailored private workshops are also available for groups of 8 to 12 participants, please contact Anna Cisecki on 02 9261 2104 for more information.

Jewellery World

A new jewellery show produced by Jewellery World, Australia’s professional jewellery magazine, and Interpoint Events, an award winning exhibition company, will be launched next year.

26 to 28 August, 2012
Royal Hall Of Industries & Hordern Pavilion
Moore Park, FOX Studios, Sydney

A new marketing division, Jewellery Promotion Service, has been established so a share of the profits from the Jewellery World Show (JWS) can be ploughed into consumer advertising to promote the industry.

Therefore, when you exhibit at JWS you will not only be helping yourself but you will also be helping the whole industry.

To register your interest in exhibiting at JWS, contact me by Friday 30 September 2011 on (02) 8586 6199 or email [email protected]

DCLA Celebrates 10 Years

On May 2nd, 2011 The DCLA celebrated ten years in business as one of the world’s leading diamond certification laboratories.

Specialising in diamond certification, cold laser inscription, education and consumer protection, the DCLA has built a global name from the ground up over the past decade. The company opened its facility on the 2 of May 2001 and immediately became the Australian bench mark for ethics and accuracy. Still the only recognised Laboratory grading to the IDC rules, the DCLA continues to lead the way in innovation, diamond certification and detection of treatments and enhancements. DCLA remains the only laboratory that has tested all diamonds ever certified to be of natural origin and untreated. Subscribing to the belief that a business must keep its brand fresh, the company will continue to innovate and provide exceptional services and protection to the trade and public. We look forward to the next ten years and the challenges that face the natural diamond trade.

AGS launches Diamond Search platform

AGS Laboratory
AGS Laboratory

The American Gem Society, in partnership with Verichannel, announced today the launch of a specialized search engine for diamonds graded by AGS Lab, available from AGS suppliers.

The online service is integrated into the members only section of the AGS website, and is also accessible to AGS members from the Verichannel platform itself. “AGS Diamond Search” consists of a database of stones uploaded by AGS suppliers, and also stones uploaded directly from the AGS Lab, immediately after being graded, based on permissions set by the supplier. They are searchable using standard criteria of color, clarity, shape, etc.  AGS retailers contact suppliers directly to initiate a purchase.

 
“We’re very pleased to be able to make this resource available as a member benefit for AGS retailers and suppliers,” said Ruth Batson, AGS Chief Executive Officer. It makes sense to give our retail store buyers the most convenient means possible of finding AGS stones from AGS suppliers, essentially all in one place, and right there at our website.”
“We have already uploaded hundreds of stones into the AGS Diamond Search,” said Charles Rosario, Senior Vice President of Lazare Kaplan International Inc., an AGS supplier. “Given that this is a very targeted and exclusive environment, it provides a means of reaching out to AGS stores directly and efficiently.”
 
Verichannel created the concept of labs uploading diamonds online, immediately after being graded, when it launched its Daily Diamond Report service in January. “The same technology is being used for AGS Diamond Search,” noted Jacques Voorhees, president of Verichannel. “In today’s diamond  market, buyers and sellers need to be able to communicate with each other as efficiently as possible, especially when it comes to finding  the right diamond, and finding it quickly.”
 
“At the AGS Lab, we provide a direct feed of freshly graded diamonds to Verichannel’s database, with authorization from suppliers,” explained Peter Yantzer, Executive Director of Gemological Services for the AGS Lab. “These then instantly become part of the AGS Diamond Search system on the AGS website. It’s the fastest way imaginable to get a stone to market.”
 
“AGS Diamond Search will be a big time saver,” noted AGS retailer Tom Wright, of Wright’s Jewelers, Lincoln, Nebraska. “We’ll begin using this resource as soon as we’re back from Conclave.”
 
More information on AGS Diamond Search is available at www.ags.org and also at www.Verichannel.com.

BlueNile diamonds

BlueNile is widely consider to be the world’s best place to buy GIA certified diamonds at the lowest prices, but is it a good deal?

Buying diamonds online is risky, ensure you take measures to protect your purchase.

The DCLA offers this advice:

     •  Use the two week return policy wisely by sending the stone and report into the DCLA Laboratory to be verified.

     •  Check the proportion grade, it is more important to the quality of the diamond and more scientific overall than a cut grade.

     •  Check the comments on the Diamond Certificate: clouds, graining and other structures or inclusions may affect the transparency of the diamond.

     •  Make sure the diamond is laser inscribed, with the Diamond Report number. This will help provide security and is a permanent identification.

     •  Don’t buy the cheapest stone available, it is cheap for a reason!
 

BlueNile is a Forbes 500 listed company and has a great reputation, but buying on the internet is dangerous if you are uninformed.

Make an informed decision and verify your purchase. The DCLA Laboratory will confirm the diamond is the diamond matching the report.

If you are one of the many people buying a diamond with a GIA certificate online from BlueNile or other sites, call the DCLA for advice… it’s free, and could save you thousands.
 

Diamonds sparkle at the Academy Awards

Diamonds were a hit on Oscar night, showcasing some of the most dazzling diamonds on offer at the 83rd Annual Academy Awards ceremony in Los Angeles on Sunday night.

Academy Awards hostess, Anne Hathaway, set off her bare neckline with a $10 million Tiffany Lucida Star Diamond necklace set with a total of 94 carats of diamonds. The necklace was paired with 10-carat diamond earrings, also from Tiffany, and a 5-carat diamond ring. Best actress award winner Natalie Portman accessorized with a Tiffany rubellite tassel earrings set with rose-cut diamonds, an Elsa Peretti Diamonds by the yard bracelet, diamond earrings worn as hair accessories and a diamond ring, both by Jean Schlumberger.

De Beers Forevermark brand featured strongly among the guests. Melissa Leo accepted her best supporting actress award wearing Forevermark 2.05-carat diamond drop earrings paired with a 10-carat Forevermark diamond flower ring.

Amy Adams jazzed up her deep midnight blue L’Wren Scott sequined gown with a Cartier emerald and pearl necklace that layered over the navy blue beads of her dress and a striking platinum houte joaillarie secret watch bracelet set with several rows of colorless diamonds and featuring a large carved emerald watch face in the center, also by Cartier.

Best actress nominee Nicole Kidman matched her Dior Couture gown with a 150-carat 19th Century Riviere diamond necklace by Fred Leighton and wore the long strand of old-mine diamonds as a choker, with a string of sparkling stones trailing down her open back.

Actress Helen Mirren was nearly all Cartier, wearing a classic silk gray gown designed by Vivienne Westwood in collaboration with Cartier jewels. She complimented the shape and color of her dress with a vintage platinum necklace from 1907 set with diamonds and pearls, and a large diamond and platinum bracelet from Cartier’s Archive Museum Collection.

Jennifer Hudson wore a fancy colored diamond and platinum ring, platinum and diamond earrings, a wide 50-carat diamond and platinum bracelet, and a platinum and diamond leaf bracelet all by Neil Lane. Colored diamonds also made an appearance on best actress nominee Jennifer Laurence who displayed platinum and fancy yellow 16-carat diamond earrings by Chopard. Sandra Bullock was spotted donning diamond and platinum stud earrings, together with vintage platinum and diamond bangles by Harry Winston.

Mila Kunis was glamorous in Neil Lane diamond and platinum cocktail ring, line bracelet, bangle and earrings totalling 30 carats while Penelope Cruz wore a 10-carat pink sapphire ring with two carat diamonds by Chopard. Young best supporting actress nominee Hailee Steinfeld was ballerina pretty with her platinum and 10-carat diamond headband, and a platinum and diamond ring by Fred Leighton.

Conclusion of Taylor Trial Delayed

Boycott of the trial by former Liberian President Charles Taylor could delay its conclusion indefinitely.

The war crimes trial of Charles Taylor at the Special Court for Sierra Leone in The Hague was set to close this week. However, the final proceedings may now be delayed in much the same manner that the opening was postponed just over three years ago: amidst a boycott by the former Liberian President.

Testimony was supposed to close the trial this week, with the defense scheduled to present its closing arguments on Wednesday and rebuttals taking place on Friday. However, true to the drama that has beset the trial from the start, Taylor’s lawyer, Courtenay Griffiths, stormed out on Tuesday to protest the court’s refusal to accept the defense’s final written case summary.

The court reasoned that the document was filed some 20 days late, while Griffiths argued that he had requested an extension on the January deadline. He explained that the submission of his defense summation was contingent on rulings on eight legal matters that were rendered after the filing deadline.

The British lawyer said he would boycott the hearing until the document was accepted.

Following his lawyer’s example, Taylor “waived his right” to attend Wednesday’s hearing. As the defense appeals the court’s rejection of its summation document, the closing could be delayed indefinitely.

It is not the first time Taylor has halted the trial. Back in June 2007, Taylor boycotted the opening sessions and dismissed his initial legal team, causing a delay of six months until new counsel was assigned.

The trial has been a long, drawn-out process. Since January 2008, the court has heard evidence from 94 prosecution witnesses and 21 for the defense and has admitted 1,093 exhibits. Its very nature has also been a sensitive one, with the location moved from Freetown to The Hague so as not to evoke too much emotion amongst the local Sierra Leone population.

The issue of whether the boycotts are defense tactics or legitimate legal protests will hopefully be ironed out by the procedural decisions of the presiding judges sooner rather than later. The population of Sierra Leoneans would surely like to put this final chapter of its ugly civil war to bed – with justice served.

Rather than divert attention to the procedural issues facing the court, it is worth stressing what is at stake for the people of Sierra Leone, as well as for the diamond industry in these penultimate moments of the trial.

It may be easy to forget that the tragic civil war in Sierra Leone, the backdrop to the trial, still burns in the memories of the people of that country, with hundreds of thousands dead and countless limbs dismembered, as many of the prosecutor witnesses testified. It was also this conflict that ultimately led to the establishment of the Kimberley Process Certification Scheme (KPCS) in 2000, to stem the flow of conflict diamonds used by rebel movements to finance wars against legitimate governments.

Prosecutors allege that during Taylor’s term as Liberia’s president between 1997 and 2003, he “created, armed, supported, and controlled the Revolutionary United Front (RUF) in a ten-year campaign of terror against the civilian population of Sierra Leone,” from his neighboring Liberia. In addition, prosecutors assert in their written summation that Taylor directed and facilitated RUF’s control of the diamond mining areas so that “many millions of dollars worth of RUF diamonds – mostly mined by civilians under conditions amounting to slavery – were delivered to Taylor.”

As a result of these allegations, Taylor faces an 11-count indictment for crimes against humanity, war crimes and violations of international humanitarian law. These are listed by the court as follows:

Acts of terrorism; Murder; Violence to life, health and physical or mental well-being of persons, in particular murder; Rape; Sexual slavery and any other form of sexual violence; Outrages upon personal dignity; Violence to life, health and physical or mental well-being of persons, in particular cruel treatment; Other inhumane acts; Conscripting or enlisting children under the age of 15 years into armed forces or groups or using them to participate actively in hostilities; Enslavement; and Pillage.

Taylor is the first African leader to face an international tribunal and has pleaded innocent to all charges. Rather, he claims to have been at the forefront of brokering peace between the Sierra Leone government and the rebels.

Griffiths, whose written summation was not accepted by the court for the aforementioned reasons and therefore had not been published at press time, has argued bias by the court. He has further claimed a U.S.-led conspiracy against Taylor, citing cables written by U.S. diplomats stationed in the West African country and leaked by WikiLeaks to major media outlets, which then published them. It appears to be the case that Griffiths is clutching at straws, both in his government conspiracy claim and regarding what are perceived as delay tactics.

Either way, the diamond industry should be following these events closely, particularly as it continues to face conflict-diamond-related reputational challenges, vis-a-vie a weakened KP and a manipulative member in Zimbabwe. The conclusion of the Taylor trial will hopefully not only bring some closure to the people of Sierra Leone, but also strengthen the diamond industry’s resolve to react to human rights violations with a sense of urgency. After all, the industry’s vulnerability to the ethical challenges posed by manipulative dictators remains as relevant today as during the presidency of Charles Taylor.

The Charles Taylor Trial
Editorial, Diamonds.net News 
Feb 10, 2011 By Avi Krawitz

Gemesis Goes White, to Market Directly to Consumers

Gemesis Diamond Company, which produces of gem quality lab created diamonds, announced that it is producing colourless diamonds.

Until now, the company offered only yellow diamonds. The company said the new line of diamonds is of excellent colour and clarity, adding that most diamonds in current inventory average approximately half-carats; however, Gemesis succeeded in producing colourless diamonds larger than one carat.

The colourless diamond offering was not the only news from the company. Gemesis also plans to go directly to consumers, saying that it is in the final stages of developing its own jewellery line. Gemesis will be launching a new e-commerce website in the coming months, combined with parallel sales through limited retailers who subscribe to the company program – including education, approach, and pricing philosophy.

The company’s own Internet pricing will not undermine participating retailers, it promised. The company also reported advances made with its fancy colour stones, achieving a vivid yellow colour. The new yellow stones will also be available on the e-commerce site. In May 2008, Gemesis announced the beginning of regular production of pink diamonds. Maybe due to the economic crisis that followed a few months later, those diamonds were never widely sold in the market.