GIA to Give Full Color, Clarity Grades for Lab-Grown

GIA grader

The Gemological Institute of America (GIA) is launching a new digital report for lab-grown diamonds that will feature specific color and clarity grades. The organization, which currently only offers loose descriptions and grade ranges for synthetics, will introduce the new reports early in the fourth quarter, it said Tuesday.

The service will incorporate the GIA’s two existing lab-grown reports. Its full reports — available for stones weighing 0.15 carats and larger — will include a 4Cs assessment and plotted diagrams showing clarity and proportions. Its lower-priced “dossiers,” which are available only for stones ranging from 0.15 to 1.99 carats, will just include the 4Cs assessment and the proportions diagram. The lab will also offer specific color and clarity grades for lab-grown colored diamonds.

The GIA began grading synthetic diamonds in 2007, and has since aligned the service more with what it offers for natural stones. Until last year, it only provided descriptions of color and clarity, such as “colorless” and “slightly included.” However, from July 1, 2019, it started indicating the range of traditional color and clarity scores to which those descriptions referred — such as “D to F” and “SI1 to SI2.”

The institute has now moved a stage further, arguing that enhanced transparency will benefit consumers and the trade.

“Natural- and laboratory-grown diamonds coexist today, accepted by both consumers and the trade,” said CEO Susan Jacques. “Ensuring consumers’ trust with GIA’s reliable, independent and authoritative grading reports for all diamonds benefits the public and the entire gem and jewelry industry. We believe the growth of laboratory-grown diamonds will expand the overall diamond market and bring in new customers.”

The reports will only be available in a digital format and will feature an updated design that distinguishes them from their natural-diamond counterparts. The California-headquartered organization will continue to laser-inscribe the stones with the words “laboratory-grown” alongside the GIA report number to further ensure differentiation from naturals. The documents will still carry a statement that the graded stone may have undergone post-growth treatment to alter its color, the GIA pointed out.

The GIA is keeping the same fee structure as for natural-diamond reports since the grading work is the same, it noted.

Source: Diamonds.net

A Crucial Moment for Artisanal Miners

Artisanal Miners Sierra Leone

The question of how to tackle the hardships facing informal diamond miners is as pressing today as it was when it first arose nearly 20 years ago.

It was first touted as an issue that perhaps the Kimberley Process (KP) could incorporate into its mission. But the KP was not equipped — or mandated — to meet the challenge, even if the sector represented an Achilles heel for a body tasked with facilitating the cross-border trade of responsibly sourced rough.

Instead, the Diamond Development Initiative (DDI) formed, taking a developmental approach to advancing artisanal miners. Since its inception, the DDI’s goal has been to create an infrastructure that allows these miners to sell their diamonds through legitimate means, get a fair price for them, and make a sustainable living.

Operating primarily, though not exclusively, in Sierra Leone and the Democratic Republic of the Congo (DRC), the organization’s work includes enabling community development; engaging with governments to formulate policies; organizing miners into cooperatives; providing professional training; and running initiatives to raise the diggers’ income, such as introducing them to new buyers.

Typically, the diggers work for less than $2 a day. With such low income, they’ve historically been incentivized to sell their diamonds on the black market, where the stones may be smuggled across the border, mixed with other goods, given a KP certificate and sold on the global market.

With an estimated 1 million to 1.5 million people working in the sector across 15 countries in Africa and three in South America, the DDI has spent much of its time registering miners in its systems and educating them on how they can benefit from working through its channels.

The organization achieved a significant milestone in April last year when it launched the Maendeleo Diamond Standards, a certification system designed to connect artisanal and small-scale diamond miners with responsible supply chains.

The standards include training on legal issues, community engagement, human rights, health and safety, ways to ensure violence-free operations, environmental management, interactions with large-scale mining, and navigating a site closure.

Clearly, given the scope of the artisanal mining sector, challenges remain. The DDI has had limited resources to pursue its goals and expand its reach.

In that context, the group announced in late July that it had merged with Resolve, a much larger non-government organization (NGO) engaged in addressing social, health and environmental issues. Being part of Resolve will give the DDI additional resources, such as administrative support for the work it wants to carry out, explained DDI founder and chairman Ian Smillie, who is joining Resolve’s board of advisers along with DDI vice chair Stephane Fischler. The group will be a division within Resolve and go by DDI@Resolve, with DDI executive director Ian Rowe at the helm.

The merger was born of the realization that the vast number of initiatives out there advocating for artisanal miners — not just in diamonds, but also in minerals such as gold, cobalt, tin, tantalum and tungsten — could lead to confusion. With NGOs, private companies, and government agencies all approaching donors and policy-makers to get support for their programs, the messaging could get muddled, Smillie explained. A pooling of resources would make for more efficient processes and a better outcome for the artisanal mining community.

Another example in July was De Beers’ GemFair program partnering with the Deutsche Gesellschaft für Internationale Zusammenarbeit and the Mano River Union — a cross-border association comprising Sierra Leone, Liberia, Guinea and the Ivory Coast — to develop training in those four countries. Efforts like these have become especially important in the Covid-19 environment, where diamond demand has slumped to historic lows.

While the pandemic has halted activity in the DRC, Sierra Leone has been better able to manage due to its experience with the 2014 Ebola outbreak. But like the rest of the trade, artisanal miners need to think beyond Covid-19 and make sure the right systems are in place to facilitate sales when demand returns. That challenge is especially difficult for these miners, who rely on the DDI’s guidance to gain access to the global diamond market. Hopefully, Resolve will help broaden the DDI’s scope. And as activity scales up, it will be up to the greater jewelry industry to support this important part of the global diamond community.

Source: Diamonds.net

Alrosa’s July diamond sales drop 79%, state help may be on its way

alrosa-large-rough-diamonds

Russian diamond producer Alrosa said on Monday that its rough and polished diamond sales totalled $35.8 million in July, down 79% from a year earlier after the coronavirus pandemic hit demand and the supply chain.

It marked a fourth consecutive month of weak sales as falling demand and supply chain disruptions since March have prompted Alrosa and other producers to reduce output and relax payment terms for clients.

Alrosa’s sales rose from $31.3 million in June but still were only a fraction of the usual sales of the world’s largest producer of rough diamonds. Its sales in July 2019 totalled $170.5 million.

The state-controlled firm has previously said that it was prepared for months of weak sales and that in coming months it will discuss with Russia’s finance ministry whether state precious metals and gems repository Gokhran could buy $0.5 billion-$1 billion of the firm’s rough diamonds.

The finance ministry is yet to take the final decision but is positive about the possibility of such a deal, the Kommersant newspaper reported on Monday, citing an unnamed source at the ministry.

Such a deal would help to improve the situation in the market, as it did in 2008-2009 when Gokhran bought diamonds worth $1 billion from Alrosa during the global financial crisis, the source told Kommersant.

Reporting by Polina Devitt – reuters

Russia unearths its largest ever colour 236-carat rough diamond

Russian 236 carat rough diamond

The stunning gem aged from 120 to 230 million years was mined in Arctic Yakutia.

The rough diamond is of deep amber colour, its dimensions are 47x24x22 mm.

The precious discovery was made by workers of remote Ebelyakh mine on river Anabar in the extreme north of Yakutia, not far from shores of Laptev Sea and some 1,211km north west from Yakutsk. 

The mine belongs to Diamonds of Anabar, part of ALROSA Group. 

The rough diamond is of deep amber colour, its dimensions are 47x24x22 mm.

The decision hasn’t yet been made as to whether it’ll be sent to Alrosa’s in-house cutting and polishing division, or sold rough. 

Russia unearths its largest ever colour 236-carat diamond

‘Such a large natural color rough diamond is a unique discovery.

‘Now, the stone is at ALROSA’s United Selling Organization being studied and evaluated by our specialists.

‘After that, we will decide whether to give it to our manufacturers for cutting or sell it as a rough.

‘Of course, cutters in any country will be interested in such a diamond, as it has the potential to give several high quality polished diamonds,’ said Pavel Vinikhin, head of ALROSA’s cutting and polishing division.

The Ebelyakh mine has produced several brightly-coloured rough diamonds in the past several years.

In summer 2017 alone a crimson, a pink and an intense yellow stones were found within a month. 

Pictured below are the intense yellow and pink diamonds cut and polished from rough stones mined at Ebelyakh. Pictures: ALROSA

Russia unearths its largest ever colour 236-carat diamond
Russia unearths its largest ever colour 236-carat diamond

Source: siberiantimes

July Figures Cast Cloud over US Retail Recovery

Retail slump

The US retail outlook is declining after the country’s economic recovery slowed in July amid a resurgence of coronavirus cases, according to the National Retail Federation (NRF).

“A lack of clarity regarding job outlook and future finances tends to influence spending behavior,” said NRF chief economist Jack Kleinhenz. “Coupled with that, uncertainty about further fiscal support from Congress is likely to cause consumers to shift more into saving their money and away from spending.”

The end of supplemental unemployment insurance benefits, which will result in many consumers losing income, could also disrupt retail sales, the NRF said.

While the US Census Bureau has not yet released monthly figures for July, the Federal Reserve Bank of New York’s Weekly Economic Index — a composite of 10 indicators that measure real-time economic activity — fell to -7.24% on July 25 from -6.65% on July 18. Officials at the bank have cited decreased retail sales as the main factor in the drop. The decline comes after US retail sales were up 8% in May compared with the previous month, and rose another 6% in June, NRF data showed.

Meanwhile, The Conference Board’s Consumer Confidence Index, which assesses consumer sentiment, fell to 92.6 in July from 98.3 in June.

“Such uncertainty about the short-term future does not bode well for the recovery, nor for consumer spending,” added Lynn Franco, senior director of economic indicators for The Conference Board.

Source: diamonds.net

Jacob & Co Billionaire ASHOKA Watch Features 189 Carats Of Diamonds

Jacob Co ASHOKA

It’d take a pretty special kind of bloke to pull this one off. Even among the richest figures currently walking about on this Earth, I just can’t imagine a Bezos, Buffet, or Musk being able to wear the Jacob & Co Billionaire ASHOKA watch on their wrists without every single one of us scrunching up our faces. In any case, it’s very much real and priced at US$7 million.

Reportedly a new and improved update of Floyd Mayweather’s hella frosty 260 carat Jacob & Co Billionaire’s watch – which itself cost US$18 million – this revised iteration features over 189 carats of proprietary diamond cuts by William Goldberg. What’s so special about a William Goldberg ASHOKA diamond? As it so happens, less than 1% of all rough diamonds meet the criteria to even become an ASHOKA. In other words, what you see before you are the elite stones.

With a distinct rectangular shape highlighted by the skeletonised calibre JCAM09 tourbillon movement, this mind-numbingly opulent timepiece is comprised of 167 elements, 19 jewels, and brings a 72-hour power reserve to the table. The 19 jewels themselves have been divided into 62 individual examples to completely cover the case, bracelet, and clasp. But you didn’t need me to tell you where to look for ’em.

Naturally, an offering such as this will be ultra-exclusive. Given the rarity of ASHOKA diamonds in the world, only a single Jacob & Co Billionaire ASHOKA watch will ever be crafted.

Source: bosshunting

Vasana Ratanasunya on her mission to make diamonds everyday jewellery

Vasana Ratanasunya

When Vasana Ratanasunya first set her mind on making VVS & Co. Bangkok a go-to name for every lady looking to enrich their life with a piece of diamond jewellery, she knew she had to take the path less trodden by others in the market in order to achieve her goal.

“There are lot of myths and mindsets when it comes to wearing, and even buying a piece of diamond jewellery,” she said during a dinner meeting with Prestige. “The most important issue, however, is that we measure the value of diamonds by the number of times we can wear them, so the easiest items to sell are some simple piece of earrings or bracelets because people think they can wear them as often as they could. That’s the mindset I want to change.”

A graduate in fashion, Vasana understands the rule of mix-and-match and proportion better than anyone. After her love for fashion has matured into a passion for precious stones that are forever, Vasana brings her own sense of style into bringing diamonds into everyday wardrobe. Her tricks? Go big when you dress down, go moderate when you dress for work, and go big for your evening.

VVS & Co.

“The problem with women who buy only small items thinking they can wear them often is that, you end up not having a good big piece to wear when you have to attend events like a gala dinner that requires an evening dress. That’s why I always tell people to go for a full matching set of diamond jewelleries instead of buying small pieces here and there. You have this big set for an evening occasion but for everyday, you can just wear a bracelet with your office look, or a pair of chandelier earrings with a t-shirt and denim on a day-out with friends. It’s just about mix-and-match!”

“Most importantly, you invest in this one set and it will become something you can pass on to your children. It has an emotional value that cannot be measured by money.”

Another ground-breaking approach Vasana has brought into the industry is her savviness in social media commerce. With the Covid-19 bringing a slow-down to international export — which previously contributed to the majority of sales for VVS & Co. — Vasana broke out of the crisis using online channels — most notably an Instagram live session which has received huge interests from fans and earned the brand a lot of new customers.

vvs

“I would say we are lucky in a way that the name VVS has been in the industry for a long time. People have known about us for decades and they trust our quality. It’s not easy to sell something as expensive as diamonds online. People need to really trust you to buy something this precious from you and we have our history to thank.”

Source: prestigeonline

Diamonds Are A Watch’s Best Friend

Harry Winston

New models in Harry Winston’s Ocean Biretrograde collection reaffirm the brand’s status as one of the world’s most important purveyors of diamonds. Before the Swatch Group acquired Harry Winston in 2013, it was owned by Dominion Diamond company, the joint venture partner in Canada’s first diamond mine, Ekati, which entitled the company to first pick of run-of-mine gems.

Previous to that, it was owned by the Winston family. It was founded by Harry Winston, whose nickname, “the King of Diamonds,” resulted from his having acquired and sold some of the world’s top diamonds: the 726-carat Jonker; the 94.80-carat Star of the East (which he later sold to the Duchess of Windsor); and the storied 45.52-carat fancy blue Hope Diamond.

The Swatch Group has been careful to honor the legacy of Harry Winston, setting most ladies’ models, and some men’s, with diamonds new pieces in the Ocean Biretrograde Automatic 36mm collection and the more petite Emerald collection.

Diamond and black lacquer version in 18k gold of the Harry Winston Ocean Biretrograde Automatic 36mm collection.

The Emerald collection is named after the shape of founder Harry Winston’s favorite diamond cut, the emerald. New 18k yellow and white gold models are ideal cocktail watches, at 18mm wide. They come with either a flexible Milanese woven bracelet or a classic satin double tour strap.

Diamond watch on a Milanese style woven bracelet from the Emerald collection by Harry Winston.

And now for the finale of the 2020 lineup: the Precious Cluster, set using Mr. Winston’s signature clustering technique with over seven carats of pear and trillion-cut diamonds, and the Winston Cluster, the high jewelry version with brilliant, marquise, and pear-cut diamonds totaling over 25 carats. The Cluster is a perfect response to the line, “Talk To Me Harry Winston!” from the 1953 song “Diamonds Are A Girl’s Best Friend.”

Source: forbes

“Botswana Should Not Produce or Sell Synthetic Diamonds”

Debswana_Orapa

According to the official, synthetics will “compromise” the value of Botswana’s natural diamonds

Lucara 123 carat diamond
Lucara Diamonds

Mmetla Masire, permanent secretary at Botswana’s Ministry of Minerals, said in a Parliamentary Accounts Committee quoted by Rough & Polished that Botswana cannot engage in production and sale of synthetic diamonds as this will compromise “the value of our diamonds”. Credit: Debswana

The Letlhakane diamond mine in Botswana
De Beers mining

Masire said that “Botswana will send a confusing message to its customers should it decide to produce and sale synthetic diamonds”. He added that the Debswana Diamond Company (the joint venture between the government of Botswana and diamond miner De Beers) is searching for other markets other than the US to sell its diamonds, including in China. Credit: De Beers

Masire “refused to provide an update on the ongoing negotiations between Gaborone and De Beers as disclosure of any information pertaining to the negotiations will potentially influence the outcome”. Botswana and De Beers’ huge 10-year diamond sale agreement is expected to expire by the end of 2020. Botswana accounts for more than two-thirds of De Beers’ diamond production.

Source: israelidiamond

GIA Embraces Automated Clarity Grading

GIA Grading Report

The Gemological Institute of America (GIA) has teamed up with IBM Research to develop an automated system for grading the clarity of a diamond.

The artificial intelligence (AI) technology uses data from tens of millions of diamonds GIA laboratories have examined in the past, applying the institute’s existing grading standards. It’s already in limited use at the GIA’s New York and Carlsbad laboratories, the institute said Monday.

Grading laboratories have increasingly invested in AI in recent years, as it promises more accurate and consistent results. Sarine Technologies unveiled its automated color and clarity grading equipment in 2016, while the GIA has been working with IBM on the joint project for around two years.

“IBM’s AI technology, combined with GIA’s expertise, extensive data and gemological-research capabilities, enables us to deliver advancements in consistency, accuracy and speed unlike any other organization,” said Tom Moses, the GIA’s executive vice president and chief laboratory and research officer.

The program will initially include the most popular diamond sizes. The GIA aims to expand it to other sizes, shapes and qualities in the future. The GIA and IBM are planning other collaborations combining gemological evaluation with AI.

Source: Diamonds.net