691 posts categorized "Diamond Industry News"

Pink Star diamond sets new world record in Hong Kong - BBC News

Pink Star diamondA rare diamond known as the Pink Star has been sold in Hong Kong for more than $71m (£57m), setting a new world record for any gemstone at auction.

The oval-shaped 59.6 carat stone was bought after just five minutes' bidding at Sotheby's, reports said.

It is the largest polished diamond in its class to go under the hammer.

It sold for $83m in Geneva in 2013 but the buyer later defaulted. The record until now was held by the Oppenheimer Blue, which sold for $50m last May.

Bidding for the gem, which was found by De Beers at a mine in Africa in 1999 and cut over a period of two years, began at $56m.

Sotheby's said the buyer was Hong Kong jewellery retailer Chow Tai Fook Jewellery.

Alexander Breckner, head of diamonds at jewellers "77 Diamonds", told the BBC that the stone was exceptional.

"It's the largest pink diamond ever found in the history of humankind. It's an incredible colour to it.

"And the sheer size of the stone already makes it so rare and so beautiful."

via www.bbc.com


The journey of one of the rarest, largest diamonds - CNN.com

Cullinan Heritage rough diamondWhat do you do with one of the world's largest rough diamonds?  You chip away at it - - for some 47,000 man hours and then turn it into one lavish neckpiece, featuring 11,551 diamonds.

Follow this link to see a photo gallery that depicts a visual journey -- from the origins of where one of the world's rarest and largest diamonds was unearthed, to how it formed the core of an absurdly lavish necklace, made of 11,551 diamonds and hundreds of pieces of jade and jadeite. The piece was designed as a collaboration between jewelry designer Wallace Chan and Hong Kong's largest jewelry retailer, Chow Tai Fook.

via www.cnn.com


Two Large Rough Diamonds Found in Lesotho

New York--Two large diamonds have been uncovered in Africa in as many weeks, putting an end to the drought of big diamond finds the industry seems to have been experiencing.
Lesotho diamonds
Gem Diamonds uncovered the 114-carat D color, Type II rough diamond on the left at Letšeng while Firestone Diamonds found the 110-carat light yellow rough diamond at right at its Liqhobong project.

Mining company Gem Diamonds Ltd. announced the recovery of a 114-carat rough diamond from its Letšeng mine in Lesotho on Friday.

The company described it as a D color, Type II diamond of “exceptional quality.”

The Letšeng mine is known for producing large, high-quality white diamonds, selling at an average price of $2,000 per carat, according to Bloomberg, which is the highest in the industry.

It is the deposit responsible for producing the 357-carat chunk of rough that was cut into the 118.78-carat “Graff Venus,” the world’s largest flawless heart-shaped diamond.

Since Gem Diamonds acquired Letšeng in 2006, the mine has produced four of the 20 largest gem-quality white diamonds ever recorded, though last year it only recovered five stones bigger than 100 carats, less than half what it found the year prior.

The news of Gem’s find came on the heels of another big diamond find from a rival miner in Lesotho, a small kingdom within a country that’s located in the southeastern portion of South Africa.

On April 5, Firestone Diamonds said it had unearthed a 110-carat diamond, its biggest discovery so far, at its new mine in Lesotho.

The light yellow stone was discovered at the Liqhobong project, confirming its beliefs that the deposit has the potential for large diamonds, the company said.

Firestone has spent $185 million to build up the mine, which just began production in October.

In addition to its Liqhobong mine in Lesotho, Firestone also owns and operates the BK11 kimberlite mine in northern Botswana.

via www.nationaljeweler.com


Inside Russia’s Diamond Mines

 

Mirny diamond mineIn the far north-east of Russia, a whole town of people dedicates their working lives to finding diamonds. Russia is the world's largest producer of diamonds by volume and Mirny is its ‘diamond capital'. 

Mirny is so remote that the people here refer to the rest of Russia as ‘the mainland.'

Located in Russia's far northeast, 4,000 km from Moscow, the main route in and out is via aircraft. In winter, when temperatures can drop to below -50 degrees centigrade, ice roads appear allowing supplies to be brought in overland. 

The town itself is built around a giant hole in the ground. It is probably Mirny's most distinguishing feature. Diamonds were discovered here in the 1950s and as the diamond mine grew, so did the town around it. The city has primarily been financed from the proceeds of the quarry - which grew to be 1.2km wide and 525m deep.

It is a remote, inhospitable place. Until June this year there was still snow on the ground. "In Mirny, for ten months of the year, it is winter."

The attraction here is definitely not the climate or the location, but the higher wages which attract people from other Russian regions and former Soviet states.

Click here to read the entire article with photos and video of life at Russia's diamond mines.


The Most Expensive Hole in the World

Mir mine photoWith an expected value of £13billion (over $17 billion), this could be the most expensive hole in the world.

Dubbed 'Diamond City', Mir mine in eastern Siberia is so huge it creates a vortex potentially strong enough to suck helicopters into its depths.

At 1,722-feet-deep and with a diameter of nearly one mile, the crater makes it look like the nearby town of Mirny has been struck by a meteorite.

Check out the full article with other great photos and videos showing this exceptional diamond mine.

 




De Beers' Gahcho Kue mine comes online, producing its first diamonds - North - CBC News

$1B mine on track to begin commercial production in 1st quarter of 2017

By Guy Quenneville, CBC News Posted: Aug 03, 2016 1:28 PM CTLast Updated: Aug 03, 2016 1:28 PM CT

1-of-3-open-pits-at-gahcho-kue-diamond-mine-august-2016

De Beers and Mountain Province Diamonds have started producing diamonds at their Gahcho Kue mine in the Northwest Territories.

While the mine isn't expected to reach a commercial level of production until the first quarter of 2017, Gahcho Kue has made the significant move from construction and commissioning to, as De Beers spokesperson Tom Ormsby put it, "actually putting some ore in the plant."

"Everything is now working," said Ormsby, adding that the $1-billion project remains on budget and slightly ahead of its timeline.

Production had long been expected to begin in late 2016.

2nd N.W.T. project for De Beers

Gahcho Kue, located 280 kilometres northeast of Yellowknife, is De Beers' second diamond mine in the N.W.T. after Snap Lake, and its third project in Canada. (The company also operates the Victor mine in Northern Ontario.)

The company shut down production at Snap Lake in December, laying off 434 workers. De Beers is now preparing to flood the mine's underground workings, unless it can find a buyer for that mine.

More than 100 former Snap Lake workers are now working at Gahcho Kue. At Snap Lake, around 75 workers continue to prepare the mine for flooding.

Ormsby was unsure whether more former Snap Lake workers could transition to the new mine.

He said that while Snap Lake was an underground mine, Gahcho Kue's three deposits will be mined in the more traditional (and technically less complicated) open-pit style, which requires a different (and not always transferable) set of skills.

Grand opening coming soon

Gahcho Kue is expected to have a steady workforce of around 500 people, said Ormsby.  

De Beers and Mountain Province — which owns a 49-per-cent stake in Gahcho Kue — plan to hold an official grand opening "in the next couple months," said Ormsby.

via www.cbc.ca


Behold the World’s Largest Blue Star Sapphire | JCK

Behold the World’s Largest Blue Star Sapphire

A Sri Lankan gem trader is selling the world’s largest blue star sapphire.

Worlds Largest Blue Star SapphireThe egg-shape stone weighs 1,404.49 cts. and has been authenticated as the largest of its kind by the Gemological Institute of Colombo (GIC).

“We can’t put a price on something like this,” Ashan Amarasinghe, a gemologist at the GIC told Agence France-Presse. “It is so rare, and unlike other, smaller sapphires, this is not a stone that can be replaced. This is something only collectors or museums can afford.”

The BBC reports that the seller expects the stone to sell for $175 million at auction; Agence France-Presse puts the price at $300 million. 

The stone was found in Sri Lanka’s central region of Ratnapura, according to reports.

“I have lived in affluence, but now I feel even more blessed,” said the owner, who asked to remain anonymous due to the value of the stone. “This [find] has not changed my lifestyle. But, I feel thrilled to be the man owning this gem. It is good for the ego.” He purchased the stone in September 2015 for an undisclosed sum.

The BBC reports that the owner has named the stone the Star of Adam, after the Muslim belief that Adam arrived in Sri Lanka after being sent away from the Garden of Eden.

Details of the auction have not yet been announced.

via www.jckonline.com


The 2016 JCK Jewelers’ Choice Awards: The Winners | JCK

The 2016 JCK Jewelers’ Choice Awards: The Winners

 

De Beers Millennium Jewel Sells for $32 Million | JCK

De Beers Millennium Jewel Sells for $32 Million

 
The 10.1 ct. internally flawless fancy vivid blue was nearly stolen in a famed failed heist

via www.jckonline.com


Forget the Silver Spoon, This Is a $400,000 Platinum and Diamond Pacifier | JCK

Forget the Silver Spoon, This Is a $400,000 Platinum and Diamond Pacifier

 
The piece was created by diamond dealer Eyal Cohen to promote his natural color diamond gifts

via www.jckonline.com