News – Page 69 – The Diamond Certification Laboratory of Australia (DCLA)

Gem Diamonds ramps up production in Lesotho

Gem Diamonds announced Thursday that the company produced 29,010 carats at its Letšeng mine in Lesotho, which is 11% more than in Q1 2020 – 26,110 carats.

The company’s revenue for the period was US$43.9 million Q1 2020 – US$47.3 million and an average price achieved for the period was US$1,630 per carat Q1 2020 – US$1,615 per carat.

The company said that 5 diamonds sold for more than US$1.0 million each, generating revenue of US$12.4 million during the period.

The group ended the period with US$26.9 million of cash on hand excluding US$8.2 million of the March tender proceeds received after the period end. During the period, Letšeng paid the remaining dividend of US$10.0 million which was declared in 2020.

CEO Clifford Elphick commented, “It is pleasing to see that carat production during the period was up some 11% on the same period in 2020 and that the average price of US$1,630 per carat was also slightly up on Q1 2020. Although the production from the mining mix was not as impressive as the second half of 2020, with fewer large diamonds recovered due to the areas accessed under the mining plan, prices achieved on a like for like basis remained strong for Letšeng’s high value diamond production.”

The company said it anticipates that the mining mix should improve over the coming months as the richer parts of the Satellite pit are accessed in accordance with the mine plan.

Gem Diamonds is a leading global diamond producer of large high value diamonds. The company owns 70% of the Letšeng mine in Lesotho and is currently in the process of selling its 100% share of the Ghaghoo mine in Botswana. The Letšeng mine is famous for the production of large, exceptional white diamonds, making it the highest dollar per carat kimberlite diamond mine in the world.

Source: Vladimir Basov Kitco

Christie’s to Offer 101ct. ‘Spectacle’ Diamond

Christie’s will sell a 100.94 carat diamond at its upcoming Magnificent Jewels auction in Geneva, where it expects the stone to fetch up to $18 million.

The emerald cut, D color, internally flawless diamond, called the Spectacle, originated from a 207.29-carat rough Alrosa unearthed in 2016 at its Zarnitsa pipe in Yakutia, Christie’s said Monday.

Alrosa cut the stone at its polishing facility in Moscow over the course of a year and eight months, Christie’s noted. The diamond the largest ever manufactured in Russia will lead the May 12 auction.

The Spectacle is the third D-color, 100-carat-plus diamond the auction house has sold over the past 10 years. The Winston Legacy, a 101.73 carat, D flawless stone, went for $26.7 million in Geneva in 2013, and the 163.41 carat, D flawless Creation I fetched $33.7 million in 2017.

“We are fascinated to present this long awaited gem,” said Alrosa CEO Sergey Ivanov. “A part of our The Spectacle Collection, bearing the same name, this exceptional 100.94 carat diamond displays a breathtaking performance, which is a natural wonder revealed by human hand. Astonishing size, combined with impeccable color and quality, characteristics and flawless provenance guarantees, make the Spectacle a unique occurrence.”

Source: Diamonds.net

GIA Recalls Diamonds over Treatment Query

Color grading at the GIA Carlsbad diamond grading lab.

The Gemological Institute of America (GIA) has asked customers to return a number of colored diamonds for reassessment, suspecting that a treatment might have gone under the radar.

The organization will reevaluate certain diamonds with “green or greenish” in the color grade, a spokesperson told Rapaport News last week. The recall applies to reports it issued between January and June 2020. The GIA declined to reveal how many stones were affected or to provide their report numbers.

“Recent research and investigation into potential treatment methods caused us to request the return of the subject diamonds for further analysis,” the spokesperson said.

The institute informed customers about the issue around six weeks ago, and is in the process of collecting and reassessing the diamonds. Some stones could get an “undetermined” ruling, while others may require further testing, the spokesperson explained. Many diamonds had already come back with their natural-color statuses confirmed, market sources said. The GIA bases its conclusions on the “state of knowledge and criteria in place at the date of examination,” it added.

Sources estimated that the number of reports under review was close to 100 and could be much higher. The GIA did not specify the nature of the possible treatment. The case is unrelated to the recent discovery of a treated fancy-color diamond on which the institute reported in the latest edition of its academic journal, Gems & Gemology.

“GIA has been investigating the cause of color in diamonds and other gem materials for nearly 70 years,” the spokesperson continued. “Among GIA’s earliest area of research was determining origin of color of green diamonds, which remains even today one of the most difficult areas of gemology. The research process is dynamic, and we recently discovered new information that may provide new insights about the origin of color of the group of diamonds that we have requested to be returned for review.”

The GIA is already dealing with a wider grading backlog following a rebound in market activity in recent months. The organization is operating with as much capacity as local Covid-19 rules allow, using weekends, second shifts and overtime, the spokesperson said.

Source: Diamonds.net

Fancy Pink Diamond Fetches $3.5m at Christie’s Auction

A 2.17-carat fancy vivid purplish pink diamond fetched $3.5m at auction, well above its high estimate of $2.5m.

It was the most expensive of a “Perfect Palette” of three colored diamonds that raised a total of $8.4m last week at Christie’s New York April Magnificent Jewels.

The pink diamond (pictured) was a cut-cornered square modified brilliant-cut stone, natural color, SI1 clarity, set with round diamonds in a platinum and 18k yellow gold ring.

A fancy vivid blue cut-cornered rectangular modified brilliant-cut diamond of 2.13 carats, natural color, VS1 clarity, set in a platinum ring with round diamonds, sold for $2.67m (high estimate $3m).

And a fancy vivid orange cut-cornered rectangular modified brilliant-cut diamond of 2.34 carats, natural color, VS1 clarity, set in platinum and 18k yellow gold, sold for $2.19m (high estimate $2.5m).

The sale of over 200 lots – including signed pieces by Belperron, Bulgari, Cartier, Graff, Harry Winston, Hemmerle, JAR, Lacloche, Tiffany & Co., and Van Cleef & Arpels – brought in a total of $35m.

Christie’s said there were bids from 40 countries and 94 per cent of lots were sold.

Source: IDEX

The Four Ex Diamond

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Proportion is graded alongside Symmetry, polish and importantly the Transparency.

This is why the Diamond Exchange are the most sought after for those who want the finest diamonds available.

To ensure the highest quality, the Diamond Exchange works with the finest rough diamond producers based in South Africa, Antwerp, Israel and India.

Each diamond is then meticulously analysed by our Laboratory diamond gemologists.

Using sophisticated laboratory equipment every aspect of the individual stone is checked, including the all-important proportions that will produce the most brilliance.

Proportions

Proportions affect how light travels within the diamond.

Diamonds that are cut too shallow and wide, or too deep and narrow lose light out the sides or bottom, causing the diamond to lose brilliance.

A select Diamond exchange Diamond are cut to ideal diamond proportions, creating a superior diamond to reflecting the maximum amount of light back to the eye.

Symmetry

The alignment of a diamond’s facets in relation to each other or opposing facets affects the diamond’s light performance.

Facets which are symmetrical and aligned, reflect light directly back to your eye.

Symmetry grading to Hearts and Arrows standards ensure its brilliance and fire is emitted evenly.

Certification

All Diamond Exchange diamonds are certified by recognised international accredited laboratories.

This provides you an authoritative analysis of your diamond.

Diamond Exchange also verifies that your diamond meets all the specific quality requirements and checks the diamond is cold laser inscribed.

Transparency

Transparency, also called pellucidity, is the material property of allowing light to pass through. In mineralogy, another term for this property is diaphaneity.

Developed by the DCLA , the Transparency Grade is the degree to which a diamond transmits light, directly relevant to its ‘cloudiness’ or ‘haziness.

In other words, it is a comprehensive assessment of light performance based on the quality of the diamond crystal itself.

Fancy Colour Diamond Trio Fetches $8M at Christie’s

The Perfect Palette diamonds. Christie’s

Three rings featuring diamonds with fancy-vivid color stole the show at the Christie’s Magnificent Jewels auction, selling for more than $8 million combined.

The trio of jewels, called the Perfect Palette, achieved a total of $8.4 million at the New York sale, Christie’s said Tuesday. A 2.17-carat, fancy-vivid-purplish-pink diamond ring brought in $3.5 million, beating its $2.5 million high estimate, while a 2.13-carat, fancy-vivid-blue diamond ring sold for $2.7 million, toward the upper end of its valuation. The third — a 2.34-carat, fancy-vivid-orange diamond ring — went for $2.2 million, just under its top estimate at the April 13 sale. The entire auction garnered $35 million, with 94% of items on offer finding buyers.

Another high earner was a pear brilliant-cut, 38.04-carat, D-flawless, type IIa diamond ring, which fetched $3 million. A Burmese ruby ring by F.J. Cooper, a prominent Philadelphia jeweler, went for $1.7 million. Both pieces fell within their presale estimates.

Other notable items included an oval modified brilliant-cut, 25.55-carat, fancy-vivid-yellow, VS1-clarity diamond ring, which sold for $1.7 million, smashing its $1.2 million high estimate. An emerald-cut, 14.50-carat, D-color, internally flawless, type IIa diamond ring also shattered its $1 million upper valuation, selling for $1.4 million at the auction.

A diamond and onyx Serpenti wristwatch, donated by Bulgari, fetched $50,000, within estimates. Proceeds from the timepiece will benefit the Elizabeth Taylor AIDS Foundation.

Participants at the sale originated from 40 countries across five continents, Christie’s noted. The auction house is still holding its Online Jewels sale, which began on April 8 and will run through April 20. It features a selection of items from Bulgari, Cartier and Elsa Peretti for Tiffany & Co., among others.

Source: Diamonds.net

Argyle Diamond Mine Closure: The End of a Sparkling Era

Pink and red diamonds are among the most special gems in the world. The value of these highly sought-after natural stones speaks for itself, but their rarity has arguably increased since the closure of Rio Tinto’s Argyle mine.

The asset, which ceased mining activity on November 3, 2020, had been in operation since 1983. In that time, 865 million carats of rough diamonds were produced.

The unique geological chemistry of the Western Australia location birthed the rarest hues, including champagne, cognac, blue, violet and of course, the coveted Argyle pink and red diamonds. Millions of carats of white diamonds were produced at the prolific property as well.

After 37 years of output, Argyle’s closure came at a time of flux for the diamond market. The sector has been dealing with reduced demand caused by the COVID-19 pandemic, as well as shifting demographics.

While mining activity has concluded at the source of 90 percent of the world’s pink gems, diamond analyst Paul Zimnisky noted that Rio Tinto is likely still processing ore from Argyle.

“So Argyle diamonds will probably still be ‘produced’ this year,” he said. “Also, Rio may have some rough inventory overhang following all of the supply chain disruptions last year. But by the end of this calendar year or early next year, I think most of the primary market Argyle rough goods will be off the market.”

Demand for pink diamonds steadily growing

Colored diamonds, especially pink and red, are among the most valued gems on Earth. Prices can range from US$10,000 per carat for less intensely colored stones up to US$70,000 per carat for vivid hues.

Ahead of the Argyle closure, pink diamond prices were on the rise. According to the Fancy Color Research Foundation FCRF, the value of pink diamonds rose 116 percent between 2010 and 2020. That’s more than any other colored diamond segment, including the extremely rare blue diamonds.

Even 2020’s disruptions and closures didn’t dent the rosy outlook for colored stones.

“The prices of all pink diamonds overall remained without a change in Q4 2020, with fancy and fancy intense categories presenting a slight increase,” a FCRF report states. “Although 2020 was challenging in terms of logistics and travel, contrary to market expectations, fancy color diamond prices proved to be resilient, with minor price decreases across the board.”

With as much as 95 percent of global pink diamond supply now removed, there is some anticipation that prices for the gems will continue to increase, perhaps at a faster rate.

Source: investingnews

Zimbabwe Mine Running out of Diamonds

The Murowa mine, in Zimbabwe, reported a 15 per cent drop in its diamond production for 2020 as known deposits begin to run dry.

Owners RioZim said it was exploring sites near the three kimberlites pipes currently being worked in the southern central Midlands Province.

Rough output in the year ending 31 December 2020 from the RioZim associate RZM Murowa Private Limited was 579,000 carats, down from 685,000 carats the previous year.

RioZim chairman Saleem Rashid Beebeejaun said the main reason for the drop in yields was that the mine had been processing low-grade resources from its K2 pipe. High-grade resources at K1 have become depleted.

But firm gold prices helped the minerals and mining parent company RioZim bounce back with a $454m profit in 2020, after a $584m loss in 2020.

Source: John Jeffay IDEX

Rolex 2021 Collections Include An Out-Of-This-World Daytona, Two-Tone Explorer And Diamond Day-Date

Two new 36mm Explorers, one of them two-tone, headline Rolex’s 2021 introductions, released today. Other new models include a Daytona with a meteorite dial, a diamond-studded Day-Date with orange accents and a fully set Lady-Datejust

The Rolex Explorer two-tone in 18k yellow gold and Oystersteel.

The Explorer is sized down a notch to 36mm from 39mm. But it’s really back to the beginning – the Explorer was 36mm when it was introduced in 1963, which also bore the iconic 3,6 and 9 numeral placement. The two-tone 18k yellow gold and Oystersteel combo is new. The dial is lacquered now, in keeping with its notch up the scale into gold territory. Inside is the caliber 3230, featuring Rolex’s signature Chronergy escapement and a blue Parachrom hairspring, with a power reserve of 70 hours. $10,800

Rolex Daytona with meteorite dial in 18k white gold. — Rolex Daytona with meteorite dial in 18k white gold

The second new stunner from Rolex is out of this world in more ways than one. Not only is it likely to be even more unattainable than the standard Daytona at retail, but it has a solid meteorite dial. The 18k white gold version is the same size, same movement, same ceramic bezel, same Oysterflex bracelet as the standard model, but the meteorite dial somehow changes everything. It is now more than a sports watch, more than an investment piece. It is a fashion statement! There are also yellow gold and Everose gold versions, but this dial is more than perfect on the white gold version, which is priced at $34,050.

Diamond paved Rolex Day-Date 36 with coral enameled numerals and a coral alligator strap. — Diamond paved Rolex Day-Date 36 with coral enameled numerals and a coral alligator strap

Rolex is also demonstrating its metiers and gemsetting prowess with two jeweled watches this year: a diamond paved Day-Date 36 with orange enameled numerals and an orange alligator strap to match; and a fully set Lady-Datejust set with more than 500 diamonds – there are also turquoise and burgundy editions. The numerals on the Day-Date shine with the unmistakable glow of enamel. On the Lady-Datejust, the numerals are made of gold with a black PVD coating. The Lady-Datejust is set with 1,089 diamonds.

The Rolex Lady-Datejust is set with 1,089 diamonds. — The Rolex Lady-Datejust is set with 1,089 diamonds

Source: Carol Besler Contributor Forbes

Lucapa recovered a 100 carat diamond

Lucapa Diamond Company and its partners, Empresa Nacional de Diamantes E.P. and Rosas & Petalas, have recovered the 23rd rough diamond over 100 carats at the Sociedade Mineira Do Lulo from the Lulo alluvial diamond mine in Angola.

The 144 carat Type IIa D colour diamond was recovered from Mining Block 08, is the sixth 100 carat diamond recovered in 2021 so far and 23rd 100 carat stone recovered at Lulo since exploration and mining operations began.

Including the first 100 carat recovery from MB46 as 2020 ended, SML has now recovered seven 100 carat diamonds in a little over three months. With these 100 carat recoveries and the two Special pink diamonds in inventory, SML is well positioned to achieve record diamond revenues for the first half of 2021.

Source: miningreview