Gem Diamonds Unearths 101ct. and 71ct. Diamonds

Gem Diamonds 101 Carat and 71 Carat Rough Diamonds

Gem Diamonds has recovered two large diamonds within a 24-hour period at its Letšeng mine in Lesotho, the company said Wednesday.

The high-quality stones are white, type IIa diamonds weighing 101 carats and 71 carats, it added.

The 101-carat stone is the 14th diamond over 100 carats the miner has found this year, a record for the company. Last year, Gem Diamonds unearthed eight stones of that size.

The largest diamond the miner has found is the 910-carat Lesotho Legend, which it claims is the fifth-largest in history. It discovered the stone in January, and sold it in March for $40 million, or $43,912 per carat.

Image: The 101-carat and 71-carat diamonds. (Gem Diamonds)

Source: Diamonds.net

Low Prices Trigger A Four-Way Merger Proposal For African Diamond Miners

Gem Diamond Mine

Tough times in some parts of the diamond-mining industry has prompted an innovative solution, a four-way merger to create a new southern African diamond specialist.

The proposal, from the London office of the German bank, Berenberg, could see Gem Diamonds, Petra Diamonds, Lucara Diamond Corporation and Firestone Diamonds emerge as a single business with enhanced financial metrics courtesy of cost savings and a focus on big, high-quality gems.

If the deal happens, and at this stage it is just a proposal from Berenberg and not something the diamond-miners have embraced, the new business would have mines in South Africa, Botswana, Tanzania and Lesotho.

3% By Volume, 8% by Value

Collective diamond production would total five million carats a year, which is equivalent to 3% of global output, but more importantly the proposed business would account for 8% of diamond supply by value.

The difference between volume and value is the key to Berenberg’s plan which has been published at a time when miners of small and low-grade diamonds are battling a flooded market whereas companies able to supply high-quality gems are generating strong profits.

An uncut 25 carat diamond mined in Botswana.

Values At Trough Levels

Berenberg said in a research report titled “Consolidating African diamond mining” that current valuations of diamond mining companies were at trough levels with lacklustre enthusiasm for the sector.

“We think something new is needed to return this sector to its former glory,” Berenberg said.

The bank said the logical way to start the process would be for a transaction between Lucara and Gem, which would create the go-to business for large diamonds, followed by a transaction with Petra and then with Firestone rolled into the structure.

Each company has its own production profile but Lucara is the best known for big diamonds having given the world the monster Lesedi La Rona in 2015, an 1109 carat stone which sold for $53 million and has since been cut into 67 smaller gems by Graf Diamonds.

Strong Cash Flow 

According to Berenberg’s multi-stage merger proposal the new business would emerge with annual revenue of around $1.1 billion and free cash flow of $200 million.

The merged business would overcome problems which hurt investor interest in smaller diamond miners including low stock-market value, high debt levels, project risk, limited growth options and a lack of return to shareholders.

“Our $1.3 billion market capitalization business would have listings in Canada, London and Sweden and, through the ability to pay an attractive dividend (we calculate a possible yield of 7%-to-8%) and the potential to attract investment from a range of global investors,” Berenberg said.

Source: Forbes

552 Carat Yellow Diamond Is The Largest Ever Found In Canada

552 Carat Canadian rough diamond

Finding exceptionally large diamonds is rare. Finding extra large diamonds in fancy colors is even more rare. As such, the announcement by  Dominion Diamond Mines that it has unearthed  the largest known diamond ever found in North America is big news. Found in October at the Diavik Diamond Mine in  Calgary, Canada, the Canadamark yellow diamond weighs in at 552 carats and beats the previous record (held by the Diavik Foxfire diamond) of 187.7 carats that was also found at the same mine.

Dominion Diamond Mines ULC sources responsibly mined diamonds and owns 40 percent of Diavik. The Diavik Diamond Mine is just shy of 150 miles south of the Arctic Circle in the Northwest Territories of Canada, and has produced several important stones in the past. This newest discovery measures about 1-1/2 inches in diameter and more than 2 inches in height. The color and texture are unique geologically speaking, as such a large and rare yellow diamond doesn’t usually form in the region. According to Dominion Diamond Mines’ release, “Abrasion markings on the stone’s surface attest to the difficult journey it underwent during recovery, and the fact that it remains intact is remarkable.”

The Canadamark(TM) program by Dominion Diamond Mines ensures that all diamonds bearing its logo are rigorously tracked from mine to polished gem in order to offer final consumers  full transparency of the supply chain. Once the rough is cut, the diamonds will  be certified as Canadamark(TM).

In the case of the previously found Diavik Foxfire diamonds,  rather than sell it in the rough, the stone was  cut and polished  — yielding a 37.87-carat brilliant-cut pear shaped diamond and a 36.80 carat brilliant-cut pear shape. Both of these stones sold recently at a Christie’s auction for $1.3 million.  It is expected that Dominion Diamond Mines will take the same approach with the 552-carat Canadamark(TM) yellow diamond. The yield could be several larger sized diamonds that Foxfire, or could be similar sizes but more of them.  It is impossible to know, as a rough diamond must be carefully studied before being cut to determine the perfect size and shape of the finished, polished stones that will show off their most beautiful color and brilliance.

Certain other fancy yellow  diamonds have made history. In fact, among the world’s largest yellow diamonds is the 439.86 carat light-yellow diamond that was found by DeBeers in 1888 and later cut into a 234.65-carat cushion-cut stone.  The Tiffany Yellow Diamond is also one of  the largest ever discovered. It weighted 287.42 carats in the rough when it was found in 1878 in the Kimberly Mine in South Africa. It was eventually cut in to the 128.54-carat cushion known a the Tiffany Yellow Diamond.

According to  a release issued by Dominion Diamond Mines, Kyle Washington, Chairman, says  “This incredible discovery showcases what is truly spectacular about Canadamark diamonds. “The color and texture of the diamond are a unique example of the journey that natural diamonds take from their formation until we unearth them. Our Diavik Mine has produced some of the most beautiful diamonds in the world, and this one certainly tops the list.”

Souce: Forbes

Coarse concentrator makes space for larger diamonds

DebTech concentrator for larger diamonds

Jwaneng has installed fit-for-purpose coarse concentrators from DebTech that will provide the mine the capability to recover large diamonds.

The two x-ray transmission (XRT) coarse concentrator plus (CC+) units were designed and manufactured by De Beers Technologies (DebTech) at its facilities near Johannesburg, and will be commissioned at Jwaneng by the end of 2018.

Located 120 km from Botswana’s capital Gaborone, Jwaneng is owned by Debswana – a joint venture between the Republic of Botswana and De Beers Plc; it is one of the world’s most valuable diamond mines by reserve value.

“The XRT CC+ units at Jwaneng are upscaled versions of our XRT coarse concentrator model,” says Gordon Taylor, head of DebTech.

“When initially considering Jwaneng’s requirements, we felt confident, given our history of developing these types of machines, that we could engineer the best solution for them.”

The two CC+ ore sorters form the heart of a new large diamond recovery pilot plant at Jwaneng.

Design and construction of the XRT CC+ units began in January 2017 and they were delivered to Debswana in January 2018 for early integration into the plant.

What makes this application different from the typical application of the ore sorting units, says Taylor, is the position of the units right at the front end of the plant.

Generally, they are located further down the process, where throughput requirements are not as onerous.

“This installation, on the other hand, will be treating coarse sized run-of-mine (ROM) material, so must handle substantial throughput quantities of up to 500 tph,” he says.

While it has long been considered quite likely that the Jwaneng pipe could contain large diamonds, previous processing techniques did not lend themselves to a simple elegant recovery system.

“The recent development of more cost-effective processing techniques based on improved XRT technology has changed the economics of finding larger diamonds,” he says.

The XRT technology is also valuable for replacing coarse and middles dense media separation (DMS), says Taylor, as the typical XRT concentrate yield is significantly less than an equivalent DMS plant.

“This considerably reduces downstream infrastructure.”

“XRT consumes much less power and water, does not require a consumable material such as ferrosilicon and is much more accurate at identifying and sorting diamonds,” indicates Taylor.

In the XRT sorting unit, material enters the unit via the inlet chute and is transported by the feeder to an internal conveyor belt, where it passes between the X-ray source and the X-ray camera.

The camera images are analysed by software algorithms and – if a diamond is identified – then a pneumatic ejection system is activated to divert the stone to a concentrate chute.

“The system provides continuous x-ray transmission images of material being processed, and these images are used to accurately discriminate between material types,” he says.

“The ‘Dual Energy’ feature on XRT sorting systems is a further enhancement that improves the technique’s ability to analyse materials of differing thickness.”

The powerful imaging capabilities of the system allows not only identification and ejection of diamonds – be they low-luminescent, type II, coloured or boart – but the generation of online carat estimates and stone count values.

He also highlights the accuracy of the latest XRT technology in the CC+ units in efficiently treating large volumes of material.

“The latest XRT technology minimises the number of ‘false positives’ that the system identifies, and therefore cuts down drastically on the amount of mined material that must be unnecessarily accommodated in downstream processing capacity,” he says.

“This accuracy transforms the economics of the whole process, and makes for much more efficient minerals processing.”

Supplied in 12 m shipping containers, the CC+ units are designed to conveniently include all the related technology and services that the customer will need to operate the plant.

The containerised solution generally requires only an electrical power source and a water connection.

Each sorter is self-contained with its own dedicated control room, internal water and electrical power conditioning, and internal compressed air generation.

Ease of use is ensured by a user-friendly, menu-driven control interface for the operator and the machines are fully integrated into the plant control system.

“The containerised configuration means that we can construct and test the machines under controlled workshop conditions, ensuring that all aspects are ready for commissioning by the time the unit leaves our facilities,” says Taylor.

“Containerisation also makes it simpler to transport the units to site and to off-load, while reducing commissioning time considerably.”

DebTech will also be supplying full maintenance support for the CC+ units, which are fitted to provide remote diagnostics.

“In summary, the XRT CC+ sorters supplied to Jwaneng will optimise diamond recovery with minimum gangue material at high feed-rates, while providing the customer with the highest chances of recovering large stones,” says Taylor.

LUCAPA TO SELL LARGE AND EXCEPTIONAL DIAMONDS IN “HISTORIC” AUCTION

pink-diamond-lucapa-angola

Lucapa Diamond Company, owner and operator of the Lulo mine in Angola, will sell seven large and exceptional Lulo diamonds an “historic inaugural international tender under Angola’s new diamond marketing laws” in January.

The auction, which will be held at the offices of Sodiam Angolan state diamond marketing company in Luanda, will feature “major international diamantaires and large stone manufacturers”. The seven Lulo diamonds to be offered at tender include Type IIa D colour white gems of up to 114 carats and a 46 carat pink diamond.

In its latest diamond sale, held in late November, Lucapa raked in $4.2 million from the sale of 3,411 carats. The sale achieved an average price per carat of $1,220. The sale has brought the total year-to-date sales of Lulo diamonds to $24.5 million at an average price of $1,353 per carat.

Source: israelidiamond

18ct. Diamond Smashes Estimate at Bonhams

Bonhams NY 18ct ring

An 18.04 carat diamond fetched $828,500 at Bonhams on Monday, exceeding its presale estimate of $400,000 to $600,000, Bonhams said Tuesday.

The emerald cut, G color, VS2 clarity ring flanked by trillion cut diamonds led the company’s New York Fine Jewelry sale. It was the first time the stone which was from a private collection had appeared at auction.

“We saw some fierce bidding for this magnificent diamond and are delighted with how well it performed,” said Caroline Morrissey, head of sales for Bonhams Jewelr, US.

At the same sale, a solitaire ring by Royal de Versailles featuring a round brilliant cut, 7.01 carat diamond garnered $275,000, beating its estimate of $180,000 to $250,000.

Other notable items from the auction included a pear-shaped brilliant cut, 5.03 carat, D color, internally flawless diamond solitaire ring. The piece went for $250,000, within its original valuation of $200,000 to $300,000. A cushion shaped modified brilliant cut, 18.76 carat, fancy light yellow diamond ring flanked by white, trillion shaped diamonds fetched $231,250, smashing its estimate of $100,000 to $150,000.

A rectangular shaped emerald cut, 33.03 carat, deep intense blue Sri Lankan sapphire ring failed to find a buyer, Bonhams said. That piece carried a presale estimate of $250,000 to $350,000.

The auction brought in a total of $4 million, according to Rapaport calculations, which Bonhams declined to confirm. The auction house will hold its Fine Jewelry sale in London on Wednesday, featuring a 24.31 carat diamond estimated at $1.7 million to $2.3 million.

Source: Diamonds.net

Graff Hong Kong to Display Lesedi Polished

Graff store hong kong

Graff will present a selection of flawless polished stones from the 1,109-carat Lesedi La Rona at its new Hong Kong boutique.

"Lesedi la Rona" Diamond To Be Auctioned At Sotheby's London
“Lesedi la Rona” Diamond To Be Auctioned At Sotheby’s London

Graff purchased the D-color diamond — the second-largest rough in history — from Lucara Diamond Corp. for $53 million in September 2017. The luxury jeweler has since cut about 30 polished diamonds from the original stone, and will display them in Asia for the first time, it said last week.

Graff recently opened its new flagship store in the St. George’s Building on Chater Road, close to the luxury jeweler’s previous location. The 2,800-square-foot boutique, which Graff created together with luxury architect Peter Marino, will also have a dedicated watch area, bridal-hall houses featuring wedding jewelry, and three VIP rooms containing high jewelry.

The luxuriously designed space will include a private event hall for special celebrations and memorable moments, Graff added.

Image: The new Graff boutique, Hong Kong. (Graff Diamonds)

Sapphire Necklace Sells for $15M at Christie’s

Christies peacock necklace

A rare sapphire necklace was the top seller at Christie’s Magnificent Jewels auction in Hong Kong, which garnered about $60 million in total on Tuesday.

The Peacock Necklace, which had a presale estimate of $12 million to $15 million, became the most expensive Kashmir sapphire necklace per carat in auction history, Christie’s said. The piece contains 21 cushion-cut Kashmir sapphires weighing a total of 109.08 carats. It fetched $15 million at the sale, achieving a price of $137,146 per carat.

Christie’s also garnered $1.3 million from the sale of the 24.04-carat, fancy-yellow Moon of Baroda pendant, which Marilyn Monroe wore to the premiere of her 1953 movie, Gentlemen Prefer Blondes. The piece smashed its estimate of $500,000 to $750,000. An autographed photo of the actress wearing the necklace fetched $35,302, compared with its original estimate of $10,000 to $15,000.

An oval-shaped, 10.04-carat, Burmese pigeon’s blood ruby and diamond ring brought in $7.2 million in line with an expected $6.9 million to $8.7 million. A set of pear brilliant-cut, fancy-pink earrings weighing 5.21 carats and 5.01 carats sold for $4.3 million, within its presale valuation range of $3.8 million to $4.5 million .

Christie’s sold 70% of lots on offer at the auction.

Image: The Peacock Necklace. (Christie’s)

Source: Diamonds.net

DCLA has opened a second diamond laboratory

DCLA Adelaide office

Australia’s International listed and recognised diamond grading laboratory DCLA, has opened a second office under the directorship of Mr Matthew Zamel.

The new office Address 319/38 Gawler Place Adelaide SA 5000. This is the second Laboratory to be opened after 17 years as Australia’s trusted name in diamond analysis certification.

DCLA employs the most qualified, knowledgeable people using the most technologically advanced gemmological equipment and references available worldwide.

DCLA remains the only laboratory who can guarantee all diamonds ever graded are untreated and natural mined origin.

DCLA founded in 2001 is an Australian based company and proudly the only Diamond grading laboratory recognised by international bodies from its founding.

About US

The DCLA is an Australian owned company.

The DCLA shareholders and directors have a heritage of over 3 generations in the industry.

The DCLA directors come from a long line of professional diamond cutters and markers.

Our involvement in the diamond trade has been from Diamond mining and in Africa, to our Cutting works in South Africa and most recently the formation in 2001 of the DCLA laboratory in Australia.

Lucapa Diamonds highest dollar per carat miner dazzles the market

Lucapa Diamonds

Lucapa Diamond Company is well advanced with a strategic plan to unlock greater wealth from its asset portfolio by expanding production of large, premium value diamonds and continuing exploration programmes to make new discoveries.

Its operations include an extensive exploration programme at its 40% owned Lulo alluvial mine to locate the hardrock source or sources of the exceptional alluvial diamonds and the development of a second high value diamond mine at Mothae in Lesotho.