Victor Mine To Be Closed By De Beers in 2019

De Beers Victor Mine Canada

Production will cease at the De Beers Victor mine in Canada in 2019, the company announced Wednesday.

The Diamond Mine in Ontario started production in July 2008 will continue to operate until the open pit is exhausted. This is in line with the company’s original study of mine and the plan for the project.

The mine has yielded 7 million carats of rough exceeding the forecast of 6 million carats predicted for its life of mine.

 

De Beers discovered the Victor kimberlite cluster in 1987 the first economically viable mine in Canada.

De Beers Will Close Four Namibian Diamond Mines

DeBeers Diamond Namdeb

Due to resources dwindling Beers’ joint ventures will close four diamond mines by 2022.

Namdeb is a DeBeers project with the government of Namibia, Will close the Elizabeth Bay mine at the end of 2018 followed by the Daberas deposit at the end of 2019 and Sendelingsdrif in 2020. The main asset  Southern Coastal will close in 2022.

Production saw a shift to offshore assets this past year. For the first nine months of 2017, Debmarine’s production surged 22% to 1.1 million carats.

Subdued world economic growth will make the next few years challenging, mainly due to negative impacts forecast in exchange rates and other indices.

 

De Beers’ $370M Sight Reflects Slow Rough Market

De Beers Diamonds

De Beers’ October sight closed with a value of $370 million as rough-diamond buying slowed due to holidays and sightholders reported a sluggish dealer market.

Proceeds from the miner’s eighth sales cycle fell 27% from $507 million in the previous sight in August, and dropped 25% compared with the equivalent period a year ago, according to Rapaport records. Rough prices were largely unchanged from the previous sight, sightholders noted, with many dealers on the secondary market struggling to make a profit on the goods or even cover costs.

De Beers offered fewer rough diamonds for sale during the month as last week’s sight occurred during a period when polishing factories in India and Israel were closed for religious holidays, the company’s CEO Bruce Cleaver explained Tuesday.

“Sales were in line with expectations, at what is a seasonally slower time for rough-diamond demand,” Cleaver added.

The Indian cutting industry is preparing to close for Diwali, which occurs this Thursday. Buyers brought rough purchases forward to the July sales cycle because of the relatively early date of the festival this year, De Beers noted at previous sights. The last two sights have both been significantly smaller than a year ago as a result.

Sightholders were optimistic about the end-of-year holiday season, even as De Beers’ rough sales have declined 7% to $4.38 billion for the year to date, Rapaport records show. Russian miner Alrosa echoed this positive outlook, also noting that the timing of Diwali had weakened sales in September.

“We expect the traditional revival of the market situation in the fourth quarter, as the industry starts to prepare for the winter holiday season,” Alrosa vice president Yury Okoyomov said last week.

Source: diamonds.net

37 carat Pink Diamond Up for Sale

Raj Pink diamond

Sotheby’s Auctioneers announced  the upcoming  auction of the Raj Pink diamond.

Weighing 37.30 carats the Pink diamond is the largest Fancy Intense Pink Diamond, according to Sotheby’s.

The Pink Diamond will feature at the auction house’s Magnificent Jewels in Geneva next month, and is estimated to fetch $20 million to $30 million USD.

The Original Rough Diamond was studied for over a year before the master cutter finished the polished Raj Pink Modified Cushion Brilliant cut

 

 

Petra Diamonds shares drop

Petra Diamond mine

More trouble for diamond miner Petra Diamonds  yesterday after it warned it is heading into financial trouble with its lenders.

Petra has borrowed heavily to expand its operations in the country. The company is now likely to breach its banking covenants at the end of the year, because of the row with the government in Tanzania. As well as strikes at three of its mines in South Africa.

Petra diamonds is known for the size and quality of the diamonds produced at the famous Cullinan mine outside of Pretoria in South Africa.

 

163ct D Flawless Diamond to be Auctioned at Christie’s

163ct. D Flawless Diamond at Christie’sAuction

The emerald cut diamond weighing  163.41 carats will be the largest D colour  flawless diamond to appear at an auction.

The 404.20 carat “4 de Fevereiro,” alluvial rough diamond that Lucapa Diamond Company recovered is the largest rough diamond in history originating from Angola.

The Rough Diamond was recovered at Lulo mine in Angola in February 2016, and sold for $16 million USD later that month by Lucapa.

The auction will take place on November 14, in Geneva at the Four Seasons Hotel des Bergues .

Young Rough Diamonds Discovered

diamond garnet inclusion

Geologists have discovered  what they refer to as young diamonds, after analyzing a number of rough diamonds.

It now appears the creation of rough diamonds, may have occurred  later in the Earth’s history than was previously thought. Diamond  requires extreme temperatures and pressures to form. Geologists though these conditions only existed in the early formation of Earth.

Small impurities in the diamonds could indicate the conditions in which they are formed. So 26 diamonds donated by the De Beers Group where analyzed by a research team in Amsterdam.

Sm-Nd isotope techniques are used by researchers to analyzed the sampled garnet inclusions, Which are a common mineral found in Earth’s mantle and sometimes within the diamonds.

The scientists discovered two sets of diamonds, one of Archaean age 2.95 billion years old thought to be the original source of the diamonds. And then surprisingly the  other of Proterozoic age 1.15 billion years old.

Botswana Wants Option to Buy Unusually Big Diamonds

1107 carat Rough Diamond

The world’s second largest 1,109 carat rough diamond discovered two years ago, has prompted the Botswana  government to amend the law giving it first option to buy unusually large diamonds.

Botswana’s success has been due to the rough diamond mines.

An official told a local newspaper that it referred to stones that were unusually large, were particularly clear or had a rare colour.

The price will agreed between the government and the producer, both parties with the current market price of the rough stones.

 

Diamond stockpiles Increase In Indian Companies

Rough Diamonds
A  US slowdown in demand for polished diamonds is gradually building up inventories at Indian jewellery manufacturing companies, leading to a decline in diamond prices by as much as seven percent this month.
The US usually orders bulk for the holiday season, but this year the volumes are down.

Inventories have started piling up at the manufacturing units. It will become a matter of worry if this continues for long.  We do not expect manufacturing activities to be cut down due to this slowdown in export markets. Manufacturing companies may reduce rough purchases.

Diamond markets in Belgium and Israel are also quiet. Rough diamond trading has slowed.

Table

The table is one of the most important facets of a polished diamond, situated at the very top of the diamond, in the crown area. It is the largest flat facet on the diamond and plays a crucial role in how light interacts with the stone. The table facet is typically positioned parallel to the girdle, which is the outermost edge of the diamond, and it serves as a window through which light enters and exits the diamond. The size and proportion of the table facet significantly impact the overall appearance, brilliance, and sparkle of the diamond.

Position and Shape:
The table is flat and circular in shape, with its size and dimensions typically defined as a percentage of the diameter of the diamond, measured from the girdle.
It is placed directly at the top of the diamond, centered on the crown. For round brilliant cut diamonds, the table should be symmetrical to allow for even light reflection and maximum brilliance.
The size of the table relative to the overall dimensions of the diamond is an important factor in its overall cut quality and light performance. A table that is too large or too small can negatively affect the diamond’s visual appeal.
Role of the Table in Diamond Brilliance:
The table facet is the primary surface through which light enters the diamond, and its quality directly influences the diamond’s brilliance (the amount of white light reflected). Light entering the table facet is refracted through the diamond’s other facets, creating the sparkle and life that is characteristic of a well-cut diamond.
If the table is too large, it may result in excessive light leakage, where light passes through the bottom of the diamond, reducing its brilliance. Conversely, a table that is too small may limit the diamond’s ability to reflect light effectively, making the diamond appear darker or less vibrant.
Table and Diamond Cut Quality:
The size of the table is one of the key factors considered when assessing a diamond’s cut grade. The table-to-depth ratio is calculated by measuring the table’s diameter and comparing it to the diamond’s overall depth. An ideal round brilliant cut diamond typically has a table size that falls within a certain percentage range of its overall diameter, usually between 53% and 58% for optimal brilliance.

Ideal Table Size: For round brilliant cut diamonds, an ideal table size typically falls between 53% and 58% of the overall diameter, balancing light reflection and maximizing brilliance.
Large Table: A diamond with an excessively large table relative to its depth may reflect less light, leading to a loss of brilliance and a flat appearance. In contrast, a smaller table could result in a diamond that looks darker or less reflective.
Table in Fancy Shapes:
While the table is a key feature in all diamonds, it is especially important for round brilliant cut diamonds. In fancy-shaped diamonds, such as princess, emerald, and asscher cuts, the table may vary slightly in shape and size to accommodate the unique proportions and angles of each cut. However, the role of the table in influencing light entry and brilliance remains consistent across all diamond shapes.

DCLA and Table Quality:
The Diamond Certification Laboratory of Australia (DCLA) is one of the leading authorities in diamond grading and certification, particularly within the Australian market. When a diamond is graded by DCLA, the table is assessed as part of the overall cut grade. DCLA uses a comprehensive set of criteria to evaluate all facets of the diamond, including the table facet.

The table is evaluated for size, symmetry, and alignment, ensuring that it contributes to the overall quality of the cut and the diamond’s ability to reflect light properly.
DCLA reports provide detailed information about the table size in relation to the diamond’s total diameter, helping consumers and investors understand how the table contributes to the diamond’s brilliance and overall visual appeal.
DCLA also measures the proportions of the table and other facets, ensuring that the diamond meets industry standards for ideal proportions. The laboratory’s expertise in evaluating the table facet, alongside other critical attributes like crown angle and pavilion depth, ensures that each diamond receives a thorough and accurate grading report that reflects its true quality.

Table and Diamond Certification:
In the grading report issued by DCLA, the table facet is one of the important details that helps determine the diamond’s overall cut grade. Since the cut is a significant factor in determining the diamond’s beauty and value, the size, proportions, and finish of the table are carefully examined. A well-proportioned table enhances the diamond’s light performance, while an incorrect or poorly finished table can result in suboptimal visual appeal.

In addition to the table’s size, the report may also include additional information about the table’s polish, symmetry, and overall surface quality, as these factors all influence the diamond’s final appearance.

The table is a crucial facet in determining a diamond’s overall beauty and brilliance. Its size, shape, and position play a vital role in how the diamond interacts with light and contributes to the diamond’s overall sparkle and visual appeal. Whether it is a round brilliant cut diamond or a fancy shape, the quality and proportions of the table can significantly affect the diamond’s grade and value. The DCLA ensures that diamonds are thoroughly assessed and accurately graded, with special attention to the table’s impact on the diamond’s overall cut quality and performance.