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Letseng Sales Drop 10% in Q4

Gem Diamonds

Gem Diamonds reported that it saw an encouraging end to a very positive year after the fourth quarter of 2014.

CEO Clifford Elphick said the despite a drop in diamond recovery, 25,525 carats down from 28,365 carats in the third quarter.  The Letseng mine in Lesotho has continued to perform strongly.

Gem Diamonds remains on track to declare a maiden dividend in March 2015, Based on the positive results and the rise in the price per carat from $2,043 in 2013 to $2,540 in 2014.

Thursday 29 January, 2015

Estimate value of De Beers January Sight is $450M

De Beers

Assortment and qualities showed no significant changes. 

Although with the first sight of 2015 having an estimated value of $450 million, De Beers has anticipated the slowing rough market with an estimated 4 percent price adjustment across the board.  

In the open rough market prices for similar goods are 20 percent lower than the contract sales, by the major miners. According to a sightholder.

General sentiment in the rough market was negative among sightholders and brokers. “I don’t know of a single box at the sight on which people will make money,” said a sightholder

De Beers has relaxed sightholder allocation rules for the January sight, allowing the deferment of 25 percent for two months without a penalty.

20 percent of the sight boxes buy values were deferred.

Wednesday 28 January, 2015

Fancy Orange Diamonds

Fancy Orange Diamond

Being the ultimate possession for diamond lovers, Natural fancy Orange diamond is extremely rare. To be classified as a fancy orange, there can be no brown in the diamonds colour.

Orange colour in diamond is rarer in nature than most other fancy colours, so rare even the GIA rarely grades an orange diamond.

As a result, orange diamonds that receive pure orange are even rarer than the natural fancy red or blue diamonds. And have therefore set records per carat exceeding any other fancy colour.

Orange is the colour of the true fancy diamond connoisseur.

Wednesday 28 January, 2015

South African diamond mine robbed

South African diamonds

A diamond mine outside of Prieska in the Northern Cape of South Africa, became the latest victim of a robbery on Monday.

South African police are looking for a group of sixteen men who tied up security guards, before they demanded the safe keys from two employees.

Unable to access the safe, they broke into the sorting room, and managed to get away with an undisclosed quantity of rough diamonds.

Tuesday 27 January, 2015

HPHT lab-grown diamonds achieve a new quality level

HPHT D IF Lab created diamond

Two laboratory grown diamonds, the largest D colour internally flawless lab-created diamonds have been certified by IGI Antwerp laboratory.

Both stones are triple excellent and have no colour overtones or fluorescence. The diamonds were submitted by Diamaz International a leading supplier of laboratory grown diamonds based in Antwerp.

Technological advancements in HPHT have made it possible to grown diamonds in D to F colours from 1ct to 3 t with great consistency.

It is predicted demand for these high quality HPHT diamonds will soon outstrip supply.

Wednesday 21 January, 2015

Indian banks begin cutting credit over default fears

Indian Banks

ABN Amro, Standard Chartered, State Bank of India and IDBI Bank continue to reduce credit levels to jewellery companies.

Winsome Diamonds and Forever Precious Diamond had defaulted on a $970 million debt owed to creditors prompting banks to act. The Banks have classified gems and jewellery into the high risk category.

Jewellery industry representatives will meet with Finance Ministry officials on Tuesday In a bid to bring much needed liquidity into the industry.

 

Monday 19 January, 2015

$500M Investment by Rio Tinto to Develop Bunder Diamond Mine

Rio Tinto

Rio Tinto has identified a cluster of eight diamondiferous pipes in India. 

Rio Tinto Global mining giant would invest $500 million in the diamond mine in Madhya Pradesh India. The potential project would create thirty thousand jobs when approval for the mining lease is granted by local authorities.

Rio Tinto's CEO said the project would commence once the company has environmental clearance.

Wednesday 14 January, 2015

Over graded diamonds

Martin Rapaport

Recently there has been a lot of controversy in the diamond and jewellery trade regarding over graded diamonds. This led to one laboratory being banned from listing on Rapaport. Video

If you have any concerns about your diamond DCLA Laboratory will check it for you FREE of charge.

Rapaport Australian listed laboratory DCLA

DCLA and Cibjo

Contact DCLA for information

Tuesday 13 January, 2015

Do not mix synthetic and natural diamonds

Lab grown diamonds and natural diamonds

Unscrupulous dealers have created havoc in the industry again, selling Lab grown diamonds in a mix with natural diamonds.

18 months after laboratory grown diamonds were found mix with natural mined diamonds, the industry is again dealing with the issue.  

Leading diamond companies including (DTC) sightholders have been caught up in the illegal practice.

In a statement the GJEPC and SDA clarified that various steps have been initiated to curb the menace including stringent legal action against those caught selling the lab grown diamonds mixed with natural diamonds. As well as manufacturing lab grown diamonds without disclosure.

Friday 9 January, 2015

Israel Exports $6B in Polished for 2014

Israel Diamond bourse

Israel’s polished diamond exports, increased one percent year on year to $6.27 billion in 2014, according to the Economic Ministry.

The United States is still the major market for Israel’s polished diamonds accounting for Thirty Eight percent of polished exports, Followed by Hong Kong with Thirty percent of Israel’s polished exports. 

Polished imports grew five percent to $4.51 billion during 2014. Rough diamond imports increased one percent to $4.02 billion, and rough exports increased four percent to $3.06 billion.

The world diamond industry faced a significant credit crunch amongst other challenges including, higher rough prices. With the robust U.S. market and renewed Asian demand, Israel looks forward to increased trade for polished diamonds in 2015.

Tuesday 6 January, 2015

Gemmological Institute of America seven week graduate diamond diploma

GIA

The GIA a gemmological organisation will be conducting a seven week graduate diamond diploma from January 8.

The programme combines theory lessons with practical hands on learning and will be held in Jaipur.

Students will learn how to grade in accordance with the GIA’s 4Cs colour, cut, clarity and carat weight of diamond in the D-Z colour range.  

As well as how to grade diamonds and detect simulants and treatments like fracture filled diamonds using gemmological equipment.

The course will be taught by instructors from the Mumbai campus.

Monday 5 January, 2015

GSI Opens Botswana Lab

GSI Laboratory

Mark Gershburg CEO of GSI said that after decades of just mining rough diamonds. Botswana capital Gaborone now cuts, polishes and sells diamonds.

This has created demand for gemmological laboratories. Therefore Gemological Science International has now opened a laboratory in Botswana’s trading centre.

Monday 29 December, 2014

Happy Holidays

Merry Christmas

Merry Christmas and Happy Chanukah to all our customers. We wish you all a successful, happy and healthy new year. Thank you for all your support and good wishes.

Monday 22 December, 2014

De Beers Sightholders Reject 25 percent of Goods

   
    De Beers December Sight

December sight is estimated at $600 million. With minor adjustments to prices and assortment qualities reported in categories.

Sightholders and brokers reported that 25 percent boxes were deferred or left on the table.

An India a sightholder said that they had already complained at the previous two De Beers sights that prices were too high to polish diamonds with a profit.  We haven’t seen any movement from De Beers so there was other option but to leave the goods.

Diamantes said that prices at the ALROSA sale declined, and the negative sentiment at the sight reflected the mood in the rough market at large.

Rough trade on the open market was week, even though boxes were offered at a loss with generous credit terms.

Wednesday 17 December, 2014

14 Diamond Companies move into the PGJ Centre

  Panama Gem and Jewellery Centre

Phase one of the Panama Gem & Jewellery Centre is completed. Fourteen of the world's largest diamond trading firms are taking up their allocated offices. 

They are among 45 international companies with annual revenues of more than $13 billion, and employ 85,000 people globally. Are  Kiran Gems, Diarough NV, Rosy Blue, Bhavani Gems, Interjewel, Jewelex, M. Suersh, the Niru Group, ILI Diamonds of the A. Rachminov Group, Atit Diamonds of the Shairu Gems, Dianco, Ofer Mizrahi Diamonds, S. Schnitzer Diamonds and S. SB Bichachi Diamonds Group.

The Panama Gem & Jewellery Centre is the region's only recognized diamond exchange.

With a futuristic profile and metallic exterior, and covers 1,578 square meters. A high security perimeter includes a parking area for tenants and visitors, and landscaped gardens. The first level includes the headquarters of the PDE, including its administrative offices, meeting rooms and 300 square-meter trading floor.

Tuesday 16 December, 2014

89-Carat Diamond Fetches $11 Million

  1.42 red

A 89.23 ct D VVs1 pear shape diamond sold for $11 million at the New York Magnificent Jewels sale.

The total auction was $66.6 million and featured a selection of colourless and fancy coloured diamonds.

A pair of pear shaped fancy light yellow diamond earrings weighing 52.88 and 51.46 cts sold for $5.4 million, a 21.30 ct, oval cut fancy light pink Golconda diamond that sold for $4.25 million. And a 1.42 ct oval cut fancy red VS2 diamond sold for $2.16 million.

Tuesday 16 December, 2014

$2.1 billion in diamonds from Russia for Indian companies

India Russia diamond pact

Twelve Indian diamond companies including Kiran Gems, Asian Star and Rosy Blue India, have signed three year contracts with ALROSA at the World Diamond Conference,

Each of the companies signed separate contracts with ALROSA and will buy rough diamonds worth USD 2.1 billion or about USD 700 million per year for a period of three years. This will assist the companies save considerable amount of commissions.

Friday 12 December, 2014

Rough diamonds for local diamond cutting works in Namibia

Namibian Diamonds

The diamond cutting and polishing factories in Namibia have been in decline, now employing only one thousand people.

The agreement between diamond producer De Beers and the Namibia Diamond Trading Company NDTC, which is equally owned by the two entities, currently supplies ten percent by value of all locally mined diamonds to the market.

The Namibian government is weighing up all options to provide more rough from (NDTC) to be supplied to the local cutting and polishing firms, said Minister Isak Katali.

Thursday 11 December, 2014

Deal with Russia for direct sourcing of diamonds for India

Russia India diamond deal

Russia and India to strengthen trade ties in gem and jewellery trade, By signing long term contracts, which include an agreement on direct supply of rough diamonds from Russia.

Business leaders from the two countries will sign contracts during the World Diamond Conference during President Vladimir Putin's visit.

As the world's largest manufacturing centre for cut and polished diamonds India produces 85 percent of the world’s polished supply, and Russia is the world's largest miner of rough diamonds.

Thursday 11 December, 2014

South African Diamond company appeals $45 million dollar case against Zimbabwe

Zimbabwe Rough Diamonds

International Court of Arbitration ruled in favour of the state owned diamond miner on Monday after previously ordering the seizure of about $45 million of rough diamonds.

The rough diamonds eventual ownership depends on a separate claim by fourteen Dutch farmers, who are seeking compensation for land seizures. The court also ruled that the diamonds belong to Zimbabwean mining companies, rather than the government. The court will hear the farmer’s case in December.

Tuesday 9 December, 2014

Alrosa and India supply agreement

Alrosa to supply India

President Vladimir Putin is visiting India later this week. Hopes are high for the signing of a diamond supply agreement with Russian diamond mining giant Alrosa and India.

Prime Minister Narendra Modi and Putin will deliver speeches at the opening of the World Diamond Conference in New Delhi.

The speakers include De Beers Executive Director Stephen Lussier, Alrosa President Ilya Raschin and vice president Andrey Polyakov, Rio Tinto Diamonds CEO Jean Marc Lieberherr, and Endiama CEO Antonio Carlos Sumbula.

Government officials who will address at the event include Walter K. Chiadkwa, Minister of Mines and Mining Development of Zimbabwe, and Ngoako Ramatlhodi, Mining Minister of South Africa.

Monday 8 December, 2014

THE INTERNATIONAL INSTITUTE OF DIAMOND GRADING

International Institute of Diamond Grading

The International Institute of Diamond Grading & Research is part of the
De Beers group of companies.

Based in Antwerp and run by the world's top diamond experts, the International Institute of Diamond Grading & Research benefits from proprietary equipment of the De Beers group of companies that enables the most precise grading and assessment for both rough and polished diamonds

Read more

Friday 28 November, 2014

Lab Created diamonds Are like real thing says producer

DCLA DTC DiamondView

Consumers can now save thousands of dollars on diamonds, with a technological breakthrough that allows Synthetic diamonds to be created in a lab.

Bissell said the lab diamonds are not different in any material way and have all the optical, chemical and physical properties of mined diamonds, and they’re 100 percent carbon because they’re genuine diamonds.

The lab created diamonds are grown in pressurized containers on a small piece of carbon known as a seed,. The ultimate result is a high quality Synthetic diamond with the same properties as a natural diamond.

John King of the Gemmological Institute said lab grown diamonds are essentially the same as natural ones, and it’s just a matter of educating consumers.

To keep up with the new technology equipment to test stones and prove natural or synthetic is available at laboratories.

Created diamonds do come with certification from some laboratories with regard to colour and clarity.

In Australia DCLA does not certificate treated or synthetic diamonds and guarantees all diamonds ever submitted have been tested and are natural as stated on the certificate.

NOTE: If you have a certificate or report which does not say the diamond is natural, it has NOT been tested.

Friday 28 November, 2014

ALROSA third quarter loss of $223 Million USD

Alrosa

A reported a loss of RUB 10.3 billion for the third quarter ending September 30, is primarily  foreign exchange losses. ALROSA posted a profit of RUB 8.3 billion $180 million for 2013.

Western sanctions imposed in response to the Ukraine crisis have devalued the Ruble by 27 percent since January.

ALROSA reported operating profit fell only 2 percent year on year to $258 million. Revenue rose 8 percent to $909 million with the average price of its gem-quality diamonds down 9 percent from the previous quarter to $182 per carat.

The company noted that the average price fell mainly due to a change in its product mix, while market prices rose 3 percent. 

Thursday 27 November, 2014

Open letter regarding over grading certification from the WFDB

  WFDB

Colleagues and friends,

The diamond industry is facing a serious challenge to its integrity which could lead to major consumer confidence problems, if diamonds are sold with overstated certification. I want to stress that this is an industry problem that must be resolved by the industry in order to retain consumer confidence in our product and sustain and develop the international diamond trade.

Recently, awareness was raised regarding problems existing within a specific laboratory group and the overstating of grading from certain laboratories in this group, which has led to the exclusion of said laboratories certificates by the Rapaport Group.

Your attention is drawn to the following issues:

(a) Ethical grading and certification are the most basic principles of the industry and these cannot be compromised.

(b) As part of the sales transaction the seller of diamonds provides a guarantee to the buyer of what is being sold and this forms a binding contract between the two parties. The seller cannot later hide behind an overstated grading report claiming ignorance as he/she will be held responsible regardless of any grading report supplied with the diamond(s) being sold. Diamantaires cannot hide behind certificates with the excuse that these goods sell cheaper. There is a common standard of colours and purities, and it is not about price but quality.

(c) In blatant cases the misrepresentation can amount to fraud with criminal consequences, depending on a countries consumer laws.

(d) Member Bourses must implement action in countries experiencing this kind of practice:

(i) If the offending party is a member, then the bourse concerned should take action under its own rules.

(ii) If the offending party is not a member, then the bourse concerned should report it to that countries consumer rights regulator in order to protect consumers rights..

On behalf of the Board and with regard to this issue, I commit the WFDB to ensure that we resolve matters as quickly as possible. We cannot reserve our position whilst this kind of practice prevails from a few laboratories that are damaging the entire diamond industry. Decisive and immediate action is required to eliminate this practice and the WFDB is in terms of its mandate compelled to take the lead. To this end a meeting will shortly be called of all the major laboratories to find common ground on the way forward.

I call on all responsible stakeholders across the world to stand together to eliminate this practice as it will harm our industry in a way that could dwarf any previous problems faced by the diamond industry.

I look forward to your full and ongoing support in this matter.

Ernie Blom

Monday 24 November, 2014

Blue diamond record price

9.75 ct Blue

A blue diamond has set a new record price of $US32.6 million at Sotheby’s auction in New York.

The magnificent blue diamond broke the world record for any diamond of its colour, and set the new record for the price per carat for diamond of any colour.

A Hong Kong collector purchased the 9.75 carat pear shaped diamond after 20 minutes of bidding at the Thursday evening auction.

Monday 24 November, 2014

Rapaport Calls for End to Over grading Diamonds

Over Graded diamonds

Martin Rapaport has released a comprehensive editorial entitled “Honest Grading” that discloses the systematic over grading of over one hundred thousand diamonds, valued at more than a billion dollars.

Rapaport calls upon the legitimate jewellery trade to reject those selling over graded diamonds that fool consumers into believing they are getting better diamonds than they are receiving.

Video

Tuesday 11 November, 2014

Zimbabwe removal of tax on locally polished diamonds to be considered

Zimbabwe Diamonds

Minister of Mines Walter Chidhakwa said that Zimbabwe is considering repealing 15 percent tax royalties on locally polished diamonds. This is likely be announced in the 2015 budget set for later this month.

The change is in order to attract investment in the diamond production sector.

Currently 90 percent of Zimbabwe's diamonds are sold as rough in Belgium and Dubai.

Zimbabwe rough diamonds sales are estimated at 1.34 million carats during the first quarter of this year, according to ministry of mines figures.

Friday 7 November, 2014

Synthetic or Lab grown Diamonds

DTC Diamond View at DCLA Laboratory

The question is how many synthetic or Laboratory grown Diamonds are there in the market.

The Gem and Jewellery Export Promotion Council estimated current laboratory created or synthetic diamond production at 350,000 carats per year.

A report on laboratory grown diamonds by Frost and Sullivan, estimates that synthetics currently constitute up to 0.6 percent of the total value of the polished diamond market or up to $135 million by value. With a anticipated three percent growth in two years.

In 2013 there were numerous reports of undisclosed Synthetic stones discovered at laboratories with the technology to identify the Synthetic diamonds.

Since De Beers and the GIA introduced new testing machines and De Beers launched an Indian testing service, the trade is more protected.

In Australia DCLA has tested every diamond ever submitted to the DCLA laboratory.

Thursday 6 November, 2014

GIA Suspends Diamond Duplicate Reports and Sealing Services

GIA reports

The Gemmological Institute of America (GIA) has suspended duplicate reports diamond and diamond sealing services at all locations.

The action is being taking this action after receiving a sealed diamond for verification that did not match the data label in the sealing packet.

GIA, along with a corporate investigation firm, is investigating the circumstances surrounding the submission to determine the source of the sealing packet.

Lost, stolen or damaged GIA reports will not be replaced but the online Report Check service will show a data document.

GIA customers with concerns may submit the sealed diamonds to GIA for examination. GIA will verify that the diamond matches the report information and return it in a sealing packet at no charge.

Tuesday 4 November, 2014

1.21 ct Argyle Cardinal

1.21 ct red diamond

Rio Tinto mine in Western Australia sold a 1.21 ct red diamond for a record price, the miner won't disclose the price of the radiant cut rare red diamond, but said the total price for Argyle pink diamonds has tripled over the past decade.

Named the Argyle Cardinal, the diamond is one of 13 red diamonds larger than one carat, and one of 54 pink and red diamonds sold at the latest international tender.

Thursday 30 October, 2014

Christie's Geneva Jewel Auction

Christie’s Geneva magnificent jewels

Christie’s Geneva magnificent jewels Auction on 11 of November, features over 390 lots.

The jewellery auction is estimates sales to exceed $80 million.  

The auction is highlighted by a pair of earrings by Bulgari set with a 6.95 carat fancy vivid blue diamond and a 6.79 carat fancy vivid pink diamond, with an estimate of $12 million and $15 million. 

Tuesday 28 October, 2014

U.S. online jeweller Blue Nile experiments with brick and mortar

Blue Nile

U.S. online jeweller Blue Nile experiments with brick and mortar

With diamond rings on display for shoppers to inspect the gems quality up close. It is the first time Blue Nile has turned to brick and mortar, showcasing products in two Nordstrom stores.

Blue Nile, which reports results next week lets shoppers buy at prices are up to 40 percent below diamonds sold in stores, the company cut its prices in 2012 while increasing its marketing budget, reaching $450 million in sales last year.

We think that over time, the brand builds with incremental sales, incremental customers, all by referral, Binder said.

Blue Nile sold far more engagement rings than biggest online competitor Amazon.

Tuesday 28 October, 2014

Rough 232-Ct Diamond sold for $15M

232.08 carat rough diamond

The exceptional 232.08 ct white diamond was recovered at the Cullinan mine in South Africa.

Cullinan mine owned and operated by Petra Diamonds earned its place in history in 1905 with the discovery of the largest rough gem diamond ever found weighing 3,106 carats.

Petra sold the 232.08 ct gem for $15,219,219 or $65,577 per carat.

Monday 27 October, 2014

Rough Diamonds

Rough Diamonds

DCLA offers the only qualified service for rough diamonds direct from our South African DCW.

Our diamond expertise in the DCW (Diamond Cutting Works) is third generation. 

Tuesday 21 October, 2014

Surat diamond companies financial strength evaluate by banks

$15 billion worth of finance per annum

Diamond companies in India, Antwerp and Dubai receive $15 billion worth of finance per annum.

Leading private and public sector banks have started to visit the Surat diamond hub to evaluate the financial strength of diamond companies that were using large facilities.

After the closure of Antwerp Diamond Bank and the Standard Chartered Bank cutting exposure to the diamond industry alarm bells are ringing in the Indian banking sector.

Bank officials from Mumbai visited diamond companies in Katargam and Varachha, and conducted meetings with their owners on diamond prices and demand of diamonds from the US and China.

Thursday 16 October, 2014

De Beers October Sight Estimated at $460M

De Beers diamonds sight

De Beers sight for October is estimated at $460 million USD. De Beers reported the prices for several different categories of goods were down between 2 percent and 4 percent.

Sightholders also said that De Beers changed the assortment for some of its boxes for higher qualities which may offset the lower prices.

Wednesday 15 October, 2014

8.41Ct IF Fancy Vivid Purple Pink Sells For Record $17.8M

8.41 ct IF Fancy Vivid Purple Pink

Sotheby’s auctioneers announced a world record auction price for a fancy vivid pink diamond. The sale of an 8.41 ct Internally Flawless Fancy Vivid Purple Pink Diamond sold for $17.77 million beating the estimate $13 million to $15.5 million.

The Magnificent Jewels and Jadeite Sale in Hong Kong on Tuesday raised $75 million.

Thursday 9 October, 2014

DCLA has moved to a new office.

DCLA Laboratory

After 13 years the DCLA laboratory has moved to a new office, DCLA now resides at 901/9 floor Citiside House 155 Castlereagh Street. We now have an office with a view. All customers welcome to visit.

Friday 3 October, 2014

Lesotho Storm 23.82 Pink Diamond

23.82 cts Pink

KAO Mine in Lesotho has recovered a second exceptional pink diamond weighing 23.82 cts. The diamond has been named the ‘Lesotho Storm’.

The KAO Mine is the largest diamond-bearing diamond pipe in Lesotho and the fourth-largest in South Africa and Lesotho. The mine regularly produces a broad spectrum of sizes and qualities, including exceptional large white and fancy coloured stones.

Wednesday 17 September, 2014

3.37 Ct Purple Orchid Diamond

3.37 Ct Purple

A fancy intense pinkish purple VS2 diamond will be on display to the public at the Hong Kong Fair, and the Purple Orchid has an asking price of $1.2 million per carat.

The exceptional diamond belonging to Israeli firm Leibish & Co originated from an unnamed South African mine, one of the few in the world where purple diamonds can be found.

There is nothing more unique on the market right now, and this incredible 3 carat purple diamond is more than a cut above the rest.

Tuesday 16 September, 2014

Diamonds not always a buyer’s best friend, dispute shows

EGL (European Gemological Laboratory)

Founded in Tel Aviv in 1974 and now with eight offices worldwide, EGL (European Gemological Laboratory) is the target in a lawsuit in US courts after claims of “over-grading” diamonds, certifying them as being worth more than they really are – a charge the service vehemently denies.

Whether the issue for EGL’s alleged over-certification of the diamonds is fraud – or the result of a decades-old difference of opinion on how to fix and rate the value of stones – will be for the courts to decide.

EGL suffered the latest blow this week when Martin Rapaport, chairman of the Rapaport Group, which publishes an authoritative diamond price list and table that is considered the standard for diamond pricing in the US, said that his service would no longer list stones evaluated and certified by EGL for the all-important “four C’s” that determine the value of a diamond – carat, color, clarity and cut. In a statement, Rapaport said that his service “is opposed to the misrepresentation of diamond quality. The over-grading of diamonds is an unfair practice that destroys consumer confidence and the legitimacy of the diamond industry.”

The brouhaha stems from a series of lawsuits against Genesis Diamonds, a retailer in Nashville, brought by several customers who claim they were sold overpriced diamonds. In one case, a customer paid $135,000 for two stones, one weighing 3.01 carats and the second 3.04 carats, rated as “excellent” and “very good” cuts by EGL. But another appraisal placed the stones a grade lower, at “very good” and “good.” That appraisal valued them at just $22,500. The case was covered on a local Nashville television station, which highlighted the issue of the EGL report. Since then, other suits have been filed against Genesis.

But EGL CEO Guy D. Benhamou said that the reports got it all wrong — the issue is not fraud, but subjective interpretations of what constitutes a “good” diamond. In a statement, Benhamou said that “it is well known that since gemology is not an exact science, the same diamond sent to several gem labs could produce different grading results. You can receive different grades for the same diamond from several different labs. That does not mean that any of the diamond labs made a mistake, it is simply in the nature of the business. Any diamond grader and lab will tell you that.”

Thursday 11 September, 2014

232.08 carat D colour Diamond

232.08 Diamond

232.08 carat D colour Type IIa diamond recovered by Petra diamonds at the Cullinan mine in South Africa. The diamond is of exceptional size and clarity, and is a incredible example of the large, high quality diamonds for which the Cullinan mine is renowned.

Wednesday 10 September, 2014

Gem Diamonds revenue at three year high

Gem Diamonds

Gem Diamonds Ltd has had a 50 percent value increase this year. Rough diamond prices have risen about 14 percent year to date on Chinese demand.

Gem Diamonds average sales were at $2,747 per carat an increase 58 percent. Gem Diamonds Letseng mine in Lesotho has produced some of the world’s biggest diamonds, including the 603-carat Lesotho Promise.

A polished diamond from the Lesotho Promise is at Graff Diamonds in London. Gem Diamonds reported first two quarter profit of $19.7 million. And Gem reported an increase in sales of 54 percent to $148.9 million.

Friday 22 August, 2014

Gem Diamonds recovers 198 ct diamond

198 ct diamond

Gem Diamonds recovered 198-carat the type IIa diamond at its Letseng mine at the end of July. The diamond a top white with no fluorescence will fetch an exceptional price when sold this later this year.

Wednesday 6 August, 2014

Diamond Production Up By 12% De Beers

De Beers

Debswana in Botswana and De Beers Consolidated Mines in South Africa year to date production has increased by 12%.

Total diamond sales were also up 15%, to $3.5 billion. This reflected the reasonably positive outlook for polished diamonds in the key markets of the US, China and India De Beers said in a statement.

De Beers group said that due to the seasonal nature of polished diamond consumption, it expects that H2 will see lower demand for rough diamonds.

Monday 28 July, 2014

Funding Zimbabwe diamond mines risky

Zimbabwe Diamonds

Rand Merchant Bank (RMB) a leading South African bank said diamond mining ventures in Zimbabwe are difficult to fund because of the high political risk and uncertainty in the country.

Zimbabwe has of late rescinded the licence of a diamond company and threatened not to renew those of others.

These policies leave mining firms unable to complete the projects the money was borrowed for and hence are unable to pay their financiers back.

Wednesday 16 July, 2014

Petra Diamonds discovers 122.5 ct blue diamond

122.5 ct Blue diamond discovered by Petra in South Africa

Petra Diamonds has found a 122.5 carat blue diamond at the Cullinan mine in South Africa.

This is the largest blue diamond found by Petra since the mine was sold to Petra by De Beers in 2008.

In February 2010 Petra sold the 507 carat white stone found at the same Cullinan mine for $35.3 million. This stone may break that record.

Cullinan mine is renowned for producing largest and most exceptional diamonds including the worlds largest at 3,106 cts.

Monday 16 June, 2014

DCLA 13 Years old.

DCLA is 13 years old

DCLA Australia's leading diamond grading laboratory has turned 13.

The Sydney based DCLA laboratory is a one of a kind, as the only laboratory in Australia grading to international IDC standards and regulations.

Technologically advanced and accurate the DCLA has been long considered the industry standard, Respect by the discerning trade and consumers.

Thank you for your support and , We look forward to celebrating the milestone with you.

Monday 5 May, 2014

DCLA Synthetic diamond identification

DTC screening and synthetic testing equipment

DCLA Laboratory established in 2001 has always had the ability and equipment to identify synthetic diamonds.

The DCLA laboratory has identified many synthetic diamonds over the past several years.

DCLA is compliant and works strictly to the IDC rules.

As per the IDC rules the Synthetic diamonds Must be disclosed as “Synthetic diamond”.

Labs will have the choice whether or not to issue a grading report/certificate for synthetic diamonds. In case one is issued only a full grading report may be delivered.

If they do not issue grading reports, a short statement with weight, shape and nature of the stone must be available. The term “Synthetic Diamond Examination Report” or “Synthetic Diamond Assurance Report” is suggested for this limited document.

The terms laboratory-created/laboratory-grown/man-made/synthetic diamond may be used. The term “cultured” may not be used in any way to describe synthetic diamonds.

The DCLA will not certificate synthetic  diamonds or diamonds with reversible treatments as this could lead to confusion in the Australian market.

 

Thursday 3 April, 2014

Where's the best place to buy loose diamonds?

www.dcladiamondexchange.com.au

General consensus is to definitely buy online.

Simple reason is online sales don’t have the expense of retail location, security and personnel.

All of these add to the cost of the diamond, but not the value.

But before you do buy, ask these questions.

Do all online diamond sellers ship free of charge?

Can you view before buying, if you wish? 

Is the diamond certified by an IDC or equally highly recognised Laboratory?

Is the diamonds quality guaranteed?  

 

Only at the DCLA Diamond Exchange the answer is yes to all these questions.

The Diamonds are certified by the best laboratories in the world and are Fully Guaranteed.

The shipping is Free across Australia.

And most important, a trained diamond grader will personally show you all the diamonds attributes, as well as explain all the details so that you understand and make an educated decision before you buy.

This is all done as a free service complements of the DCLA laboratory which is the only qualified and state of the art IDC Laboratory in Australia.

 

To buy diamonds click here