Diamonds – Page 46 – The Diamond Certification Laboratory of Australia (DCLA)

The Four Ex Diamond

Sourcing a diamond is easy with the help and guidance of the DCLA diamond exchange.

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.

A Nearly 64 Carat Diamond Cartier Bracelet Could Fetch HK$40 Million at Sotheby’s

An iconic Cartier bracelet with 63.66 carats of pear-shaped D color, internally flawless diamond set on rock crystal is expected to fetch between HK$40 million and HK$65 million (US$5.16 million and US$8.39 million) at Sotheby’s Hong Kong’s sale of magnificent jewels in April.

Taking nearly 2,000 hours to create, the bangle-bracelet from the collection “L’Odyssée de Cartier —Parcours d’un Style,” pays homage to an Art Deco inspiration featuring sparkling stones and the French maison’s emblematic panther, orchid, and Oriental motifs.

Louis Cartier, the brand’s third-generation jeweler was a pioneer in working with rock crystal, which became popular in the 1920s. Cartier utilized a polishing technique from the Renaissance period to give a soft shine to rock crystal which, when paired with a diamond, creates an intriguing light effect.

The unique piece “combines a phenomenal diamond, mesmerizing design and impeccable craftsmanship, and represents a high jewelry collectible that will shine through time,” Wenhao Yu, deputy chairman of jewelry at Sotheby’s Asia, said in a statement.

Also on offer is “Circle of Happiness,” a bangle made of 277.7 carats of green jadeite-jade from Myanmar. Sotheby’s did not disclose the estimate of this bracelet.

Sotheby’s sale of magnificent jewels will also feature pieces from the houses of Boucheron, Bulgari, Chanel, Chopard, Graff, Harry Winston, Hermès, Van Cleef & Arpels, and more.

“The appetite for high-quality jewels has never been stronger in Asia, with discerning collectors looking for rare diamonds and gemstones, as well as unique and iconic designs,” Yu said.

Source: barrons

Israel’s Diamond Trade Sees Strong February

Israel Diamond Exchange complex in Ramat Gan.

Israel’s diamond exports improved in February amid steady jewelry demand in key retail markets and the opening of a trade channel with Dubai, according to government data.

Polished shipments out of Israel jumped 24% year on year to $251.6 million for the month, with volume increasing 20% to 122,784 carats, the country’s Ministry of Economy and Industry reported last week. Rough exports rose 21% to $124 million, while volume slipped 9% to 188,317 carats.

The ministry attributed the growth to higher demand for studded jewelry in the US and China. As for rough trading, 16% of exports were to the United Arab Emirates (UAE), with which Israel reached a peace deal in August, the government noted. Before that, Israel was unable to ship goods directly to Dubai, an important center for rough tenders. The improvement also came despite a February lockdown in Israel, which affected the availability of flights, the ministry pointed out.

“The industry has cause for optimism after a difficult year,” said Ophir Gore, Israel’s diamond controller. “The data that the global diamond sector has seen in the past two months — especially in the American diamond and jewelry market — indicate demand has recovered. The first half of this year is expected to be particularly positive for the industry.”

Source: Diamonds.net

Meghan Markle accused of wearing earrings from Mohammed bin Salman

The Duchess of Sussex wore the dramatic diamond earrings to a state dinner in Fiji, three weeks after the Saudi crown prince allegedly ordered the killing of journalist Jamal Khashoggi.

Meghan Markle’s representatives hit back Tuesday at a bombshell news report that she faced an official complaint of bullying from several Kensington Palace staff members, and blasted “spurious allegations” related to another problematic choice — a pair of earrings worn to a state dinner in Fiji.

As reported by the Times in the UK, the Duchess of Sussex wore diamond earrings to the dinner during her and Prince Harry’s visit there in 2018. The Times said the earrings were a wedding gift from controversial Saudi Crown Prince Mohammed bin Salman, the Times said.

The dinner, hosted by the president of Fiji, took place three weeks after Washington Post journalist Jamal Khashoggi was murdered at the Saudi embassy in Turkey a killing that U.S. intelligence agencies say was ordered by bin Salman.

At the time, multiple outlets, including Elle, reported that the dramatic diamond earrings were borrowed from the royal family.

According to the Times, the duchess didn’t deny that she said the earrings were borrowed, “despite being aware of their provenance.” But in a statement, her spokesperson objected to “spurious allegations regarding the use of gifts loaned to the duchess by the Crown.”

People magazine reported that the earrings were gifted on March 7, 2018, from the Saudi royal family, who is represented by bin Salman. The crown prince met with the queen at Buckingham palace during a three-day visit to launch a Saudi U.K. economic and investment partnership. At the time, bin Salman was viewed by Western leaders and the media as a potential force for progressive change in the Middle East, but that view changed with the death of Khashoggi.

Neither Meghan or Harry was present when the earrings were received by Buckingham Palace, People said. As is protocol, any wedding gift of this nature remains the property of The Crown, People added. According to The Sun, her lawyers said that her were aware who the earrings were from, while Meghan wasn’t aware of rumors that bin Salman was involved in Khashoggi’s murder.

The Times report comes five days before Meghan and Harry are set to appear on CBS in a highly-anticipated, “wide-ranging” interview with Oprah Winfrey. It appears timed to cast Meghan in a less glowing light.

The Times report said current and former palace employees approached the newspaper, concerned that the Winfrey interview would be one-sided and that the palace had not adequately addressed their concerns about the bullying.

The interview already has been recorded, and the legendary talk-show host says in promotional ads that the couple reveal “shocking things” about Meghan’s “almost unsurvivable” time in the royal family. The couple also are expected to discuss their decision to stop being working royals and re-locate to Meghan’s home state of California.

A spokesperson for the Sussexes said the bullying allegations reported by the Times make them victims of “a calculated smear campaign” that is based on “misleading and harmful misinformation.” The statement said the duchess was “saddened by this latest attack on her character, particularly as someone who has been the target of bullying herself and is deeply committed to supporting those who have experienced pain and trauma.”

Attorneys for the Sussexes also refuted the bullying allegations, saying that The Times is “being used by Buckingham Palace to peddle a wholly false narrative.”

The fact that such allegations are being aired publicly shows how bitter the conflict has grown between the Sussexes and the royal establishment since the couple left the U.K. at the end of 2019.

The employees told the Times they were bullied by the U.S.-born former TV actress after she married Prince Harry in May 2018. One former employee, who was not named in the Times story, said they had been personally “humiliated” by Meghan, while another aide discussed experiencing “more like emotional cruelty and manipulation.”

An official October 2018 complaint, made by Jason Knauf, the couple’s communications secretary at the time, also said Meghan drove two personal assistants out of the household and was undermining the confidence of a third staff member, the Times said.

Royal sources additionally told the Times about a tense atmosphere in Kensington Palace where Meghan and Harry lived alongside Prince William and Kate Middleton until splitting their Sussex and Cambridge households at the beginning of 2019. The Times said staff would be “reduced to tears,” while another, anticipating a confrontation with Meghan, reportedly told a colleague: “I can’t stop shaking.”

The Times report also said staff had a “difficult” time on the couple’s royal tour of Australia, New Zealand, Fiji and Tonga in October 2018. Meghan had just announced she was pregnant with their son, Archie, and the tour was widely covered, with reporters covering every move she made and every outfit she wore.

Fashionistas raved about the “showstopper” blue cape Safiyaa gown Meghan wore to the dinner hosted by the president of Fiji. It was her first state dinner, and Elle reported that she accessorized the gown with earrings that were “borrowed from the royal family.”

At the time, Elle said Kensington Palace wouldn’t confirm to reporters which member of the royal family she borrowed the earrings from, but “some speculate it was the queen.” Another publication, The Court Jeweler, agreed that the earrings “definitely made a statement,” but thought they might have been borrowed from her mother-in-law, Camilla Parker Bowles.

Several months later, People magazine, citing a Daily Mail report, described how Meghan had been especially eager to make a good impression at the state dinner in Fiji. She wanted to complete her look with a tiara but Prince Charles said no, explaining to her that wearing such a sparkling accessory would be viewed as too “extravagant” in some Commonwealth countries.

Tiaras are usually reserved for royal weddings or state banquets with visiting dignitaries at Buckingham Palace, People explained.

“Meghan did not understand all of this because she was new to the role and so Prince Charles told her that it would not be appropriate,” the source told the Daily Mail at the time. Charles’s advice was “kindly” dispensed.

Source: mercurynews

Beware a Supply Bottleneck

The positive sentiment the diamond market experienced during the past few months was a welcome change from the gloomy tone that characterized 2020. Buoyed by holiday sales that proved better than expected, the trade gained the confidence to buy again, even with activity limited mostly to online platforms.

For the first time in many years, polished suppliers struggled to fill orders due to shortages during the fourth quarter. Just a year earlier, the midstream was plagued by what seemed to be a chronic oversupply that pushed down polished prices and caused profit margins to tighten. Among the few benefits of the Covid-19 lockdowns was that manufacturers were forced to freeze rough purchases, stop production, and start depleting the excess inventory they had.

With fewer goods available, it was understandable that the rough market would wake up again in the fourth quarter. The resurgence was a remarkable one, too: The combined volume of De Beers’ and Alrosa’s rough sales rose 57% year on year to 23.9 million carats in the final three months of the year. That’s more carats in a quarter than the two have sold since the beginning of 2017 — itself an anomaly period that arguably fueled the ensuing oversupply crisis.

The positive momentum continued into the new year with reports of sizable rough sales last month. De Beers notched its largest sight in three years, while Petra Diamonds and Mountain Province continued to see good demand at their tender sales, with prices up 8%.

In the February issue of the Rapaport Research Report, we consider the question of whether the strong rough sales are a product of polished demand or of the low supply that typified the market earlier in 2020. It could be both. What’s certain is that the rough market must cool in the coming months or risk throwing the industry back into a polished-oversupply scenario.

Such an event would undo the hard work that went into restoring an equilibrium between the rough and polished markets. It would also fuel skepticism about the stated intention — by miners, manufacturers and retailers alike — of ensuring the diamond market becomes demand driven and more efficient in its operations.

Now, at the start of February 2021, the industry is at a crossroads. Manufacturers must curb their rough purchases to maintain the balance we’ve achieved in recent months and ensure a sustainable recovery. While the holiday season was relatively positive for the industry, global diamond jewelry sales have not yet returned to pre-pandemic levels and are unlikely to do so this year. For now, this means the recovery remains a supply-driven one, and the industry needs to walk the fine line between caution and its enthusiasm to do business again.

Source: Diamonds.net

Mountain Province’s first diamond sale of 2021 shows 8% price rise

After a devastating 2020 which saw a near-collapse in the global diamond trade, Mountain Province Diamonds‘ latest sales figures show the sparkle may be starting to return to the diamond sector.

The 49% owner of the Gahcho Kué mine in the Northwest Territories, operated by 51% owner De Beers, sold 241,827 carats of diamonds for $21.8 million or $90 per carat in the sale, which closed on Jan. 22 in Antwerp. That represents an encouraging increase from an average sales price of $64 per carat in the final quarter of 2020 and $37 per carat in the third quarter.

“The first sale of the year was excellent, the growing confidence amongst rough diamond buyers translated into a healthy price improvement of 8% on a like for like basis when compared to our record high volume December sale,” said Mountain Province president and CEO, Stuart Brown, in a release. “We expect to see a continuation of the positive trend as rough and polished markets continue to strengthen post a successful retail season.”

The company’s next sale, in February, will include the 157-carat “Polaris” gem diamond, recovered in the fourth quarter. Named after the North Star, the stone appears colourless in daylight, but under ultraviolet light “exhibits a rare natural blue fluorescence that echoes its Arctic origins.”

Mountain Province recently released its production and sales results for the fourth quarter. Two confirmed cases of covid-19 during the quarter affected production as existing health and safety precautions were further enhanced. For the quarter, the operation saw a 12% decrease in total tonnes mined (ore and waste), a 21% decrease in tonnes treated (to 736,140 tonnes), and a 23% decline in carats recovered (to 1.5 million carats).

Mountain Province’s share of fourth-quarter production was nearly 745,600 carats.

For the year, the company recorded total sales of 3.3 million diamonds at an average price of $51 per carat for C$227 million ($171.3 million) in revenue.

“Under very difficult circumstances, all driven by Covid-19, the Gahcho Kué mine has performed well in being able to maintain production, albeit at a reduced level, and came very close to the revised guidance in tonnes mined and treated and exceeded the revised guidance target for carats recovered,” Brown said earlier this month on the release of the production figures. He added that the carat recovery was “particularly pleasing under the circumstances” and positioned the company for positive sales numbers in the first quarter of 2021.

Brown said that the last quarter of the year saw a “strong recovery” in the diamond market. In addition, the late 2020 closure of Rio Tinto‘s high-volume Argyle mine in Australia is expected to help establish a “more balanced” supply and demand equilibrium.

“The diamond market came under unprecedented pressure from early March to early September and although this pressure remains, we did see a strong recovery with respect to rough diamond demand in the last quarter of the year,” Brown said. “The two sales during the last quarter saw significant price recovery across all categories of diamonds sold. Early diamond jewelry retail sales reports are encouraging, and we expect to see steady demand for rough diamonds in the first quarter of 2021. There will no doubt still be challenges ahead but we are certainly more positive in our outlook as we start 2021 compared to the middle of 2020.”

Source: Canadian Mining Journal

Petra Diamonds’ investors back restructuring

Petra Diamond’s Finsch mine in South Africa

Struggling Petra Diamonds (LON: PDL) said on Wednesday its investors have approved plans to restructure the business, a move that aims to provide the miner with a more stable, deleveraged capital structure to ensure its short and long-term viability.

Over 95% of shareholders voted in favour of a resolution that includes reducing authorized share capital of the company by cutting the nominal value of all ordinary shares from 10p to 0.001p.

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It also involves an increase to Petra’s authorized share capital through the creation of 8.5-million ordinary shares and the authorization for directors to allot ordinary shares up to £88,447 ( just over 8.8-million ordinary shares).

Hefty debt
Petra Diamonds’ weak financial position, a product of stagnant demand and heavy borrowing to expand its mines, particularly the iconic Cullinan, pushed it to put itself up for sale in June. Petra reversed the decision in October, opting instead for the debt-for-equity restructuring approved Wednesday.

The company noted it expected to complete the reorganization in the first quarter of 2021.

Petra’s shares slumped by more than 80% last year as the covid-19 pandemic battered the global diamond sector, with mines forced to shut down while consumer demand continued to fall.

The diamond miner, which has three operations in South Africa and one in Tanzania, is also dealing with allegations of human rights abuses at its Williamson mine in Tanzania, resulting from the actions of its security guards.

Source: Mining.com

Mothae diamonds sell for $7.2 million

Lucapa Diamond Company and its partner, the Government of the Kingdom of Lesotho, have provided an update on the first sale of diamonds in 2021 from the Mothae kimberlite mine in Lesotho.

The parcel of 4,676 carats of rough diamonds were sold for a total of US$5.6 million or US$1,198 per carat. This is the highest average US$ per carat price achieved by Mothae on the sale of any run of mine production parcel.

The sale included a number of Specials (diamonds weighing >10.8 carats), including the 101 carat D colour diamond recovered following re-opening of the mine in Q4 2020, which is the most valuable diamond recovered to date at Mothae.

Lucapa MD, Stephen Wetherall comments:

“Following a tough 2020, where both of our mines were impacted by the pandemic, our valued teams have shown their resilience and operations have bounced back strongly.

“The good recoveries at both mines and growing demand leading to strengthening diamond prices has seen a strong start to 2021.”

“We look forward to Mothae receiving further value following implementation of the cutting and polishing partnership and to completing the expansion at Mothae this quarter.”

Source: miningreview

Diamond Prices Firm After Supply Declines

Diamond trading was seasonally slow in December as the industry’s focus shifted to retail and as diamantaires took their end-of-year break. Sentiment received a boost from strong holiday e-commerce sales, the distribution of Covid-19 vaccines, and the US approval of a $900 billion coronavirus stimulus package.

Polished prices firmed as supply declined due to limitations on diamond manufacturing during India’s lockdowns. The RapNet Diamond Index (RAPI™) for 1-carat diamonds rose 2.3% in December and 5.8% for the full year.

RapNet Diamond Index (RAPI™)
	December	4Q 2020	FY 2020
RAPI 0.30 ct.	0.4%	-4.7%	0.2%
RAPI 0.50 ct.	0.8%	-2.3%	12.1%
RAPI 1 ct.	2.3%	3.8%	5.8%
RAPI 3 ct.	2.5%	7.0%	3.7%

The industry began 2021 with a healthier supply-demand balance than it had at any stage in the past five years.

The volume of 1-carat diamonds on RapNet in the D-H, IF-VS range — the categories the RAPI measures — declined 24% in the second half of 2020. The top 10% of diamonds in that category were selling at an average of 32% below the Rapaport Price List on January 1, 2021, compared to 37% below on July 1, 2020. The lower discount suggests that demand is stronger relative to the available supply.

Manufacturers are raising polished production in anticipation of steady first-quarter orders as jewelers and dealers seek to replace inventory they’ve sold during the holiday period.

Jewelers with solid e-commerce programs had a good season. Many off-mall independents also did well, as consumers felt safer visiting stand-alone stores than crowded malls and were driven to support local community businesses following the Covid-19 lockdowns. Independents without an effective online presence struggled.

US jewelry sales for October 11 to December 24 fell 4.3% year on year, according to Mastercard SpendingPulse. Online jewelry sales grew 45%.

There is some optimism for the year ahead even as Covid-19 continues to disrupt business activity. To ensure growth, the trade must intensify its efforts to engage with consumers via storytelling and improved omni-channel platforms while keeping supply in sync with prevailing levels of demand.

Source: Diamonds.net

Christie’s Rakes In $5M from Paris Sale

A 14.7-carat diamond ring was the top seller for Christie’s in Paris, nearly tripling its high estimate.

The marquise-cut, E-color, SI1-clarity stone sold for EUR 437,500 ($531,812), or $35,322 per carat, well above its EUR 150,000 ($182,333) upper valuation. It was one of a number of noteworthy diamonds that led the sale Paris Jewels sale, which took place from November 24 to December 9. The auction brought in $5 million, Christie’s said last week.

A ring set with a rectangular cut-cornered, H-color, VS2-clarity diamond, weighing 1.22 carats, fetched EUR 237,500 ($288,696), or $25,167 per carat, nearly double its high estimate. Meanwhile, a ring containing two old-cut, J-color diamonds, each weighing 6.73 carats, smashed its presale high estimate, selling for EUR 137,500 ($167,139).

Colored stones also performed well, Christie’s noted. A pair of ruby and diamond mystery-set earrings by Van Cleef & Arpels garnered EUR 137,500 against a EUR 40,000 ($48,626) upper estimate, while a Ballerina brooch by the designer brought in EUR 106,250 ($129,164), doubling its estimate. A retro ruby and diamond bracelet, which transforms into double clips, tripled its valuation, achieving EUR 93,500 ($113,664).

In total, Christie’s sold 80% of the items on offer, with many pieces selling above their estimates.

“This last jewelry auction of the season demonstrated the continued strength of the jewelry market despite the challenges due to the pandemic,” said Violaine d’Astorg, director of the jewels department at Christie’s France. “Limited exhibition time and auctions without [the] public in the room were compensated [for] by intense activity on the phone and over Christie’s Live.”

Source: Diamonds.net