Anglo American’s De Beers, the world’s largest rough diamond producer by value, has decided to begin selling its own polished diamonds in auctions for the first time in its history.
The pilot auction, scheduled for June, will include a wide range of polished stones manufactured directly from the company’s own rough diamonds.
“The pilot auction, scheduled for June 29, will include a wide range of polished stones manufactured directly from De Beer’s own rough diamonds.” All the polished rocks will carry grading reports from both the International Institute of Diamond Grading & Research (IIDGR) — De Beers’ in-house grading unit — and the Gemological Institute of America (GIA).
“We are interested in testing the level of demand from polished buyers for diamonds that have a clear and attractive source of origin, and that offer the assurance of product integrity that dual certification provides,” Neil Ventura, the miner’s executive vice president of auction sales, said in the statement.
If successful, the process would provide De Beers with more insight into the polished market, while also helping consumers fill gaps in supply or inventory if they were unable to find goods at the company’s rough auctions, he added.
All registered De Beers auction buyers will be eligible to bid in the first sale, which takes place on June 29.
Profit more than doubled for De Beers last year as trading conditions in the diamond-manufacturing sector improved and inventory levels stabilized.
Underlying earnings jumped to $667 million in 2016 from $258 million a year earlier, parent company Anglo American said in a statement Tuesday. This came as revenue grew 30 percent to 6.07 billion, reflecting a 37-percent hike in rough-diamond sales to $5.6 billion.
The midstream of the diamond industry returned to buying rough after a 2015 slump in demand that resulted from oversupply of polished and inflated rough prices. Manufacturers started working down their polished inventories in the second half of that year before restocking their rough supplies in 2016.
De Beers also lowered prices, with its rough-price index declining 13 percent across 2016. The miner consequently reduced its rough stockpiles during the year, management said. De Beers production fell 5 percent to 27.3 million carats, while sales volume leapt 50 percent to 30 million carats, meaning it sold a larger volume of stones than it mined. “2016 generally was a much better year for the diamond industry,” said Bruce Cleaver, De Beers chief executive officer. “The midstream performed much better than 2015, largely as a result of the strong and decisive action we took in 2015 to reduce production in accordance with demand.
The fruits of that tough action we took in 2015 was seen through 2016.” The company projected production would rise to 31 to 33 million carats in 2017, “because we see the market has recovered from where it was at the end of 2015,” noted Cleaver. The company maintained a conservative outlook for the diamond jewelry market given prevailing global macro-economic conditions and geopolitical risk.
Performance will be dependent on a number of macro issues, including the attitude of the new U.S. administration, the strength of the dollar, continued recovery in China and the impact of Indian demonetization, Cleaver explained. “All other things being equal, we think diamond demand will continue to grow along with GDP growth,” he said. Source: diamonds.net
Petra Diamonds announced that it had recovered a 138.57-carat, Type IIa, D-colour diamond at its historic Cullinan mine near Pretoria in South Africa. The company said the diamond would be offered for sale in Johannesburg later this month.
Lucara Sells Its 813 Carat Diamond for US$63 Million, the Highest Price Ever Achieved for the Sale of a Rough Diamond.
Lucara Sells Its 813 Carat Diamond for US$63 Million, the Highest Price Ever Achieved for the Sale of a Rough Diamond.
Lucara, is pleased to announce that the exceptional 812.77 carat, Type IIa diamond recovered from the Karowe mine in Botswana in November 2015, has been sold for US$63,111,111 (US$77,649 per carat).
As part of the sale, Lucara has partnered with Nemesis International DMCC, and retains a 10% interest in the net profit received from the sale of the resultant polished diamonds.
The 813 carat diamond has been named, “The Constellation”, in collaboration with our partner. Lucara is a well-positioned diamond producer.
The Company’s main producing asset is the 100% owned Karowe Mine in Botswana.
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De Beers which produces thirty percent of world rough diamonds has cut prices by 10 percent for the sight.
This comes after two reductions in its annual production output by 15 percent failed to slow slump in prices of rough.
Rough diamond prices have dropped 14 percent in some categories and are in their fifth consecutive quarterly loss, which is the longest in a decade.
De Beers cut the size of the sight to $250 million and reduced the prices by 9 percent, according to sight holders.
De Beers has also contributed tens of millions to a jewellery advertising campaign. Its advertising campaign will promote diamond jewellery in the U.S. and to Chinese consumers.
DCLA Australia’s leading diamond laboratory valuation service now available.
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The DCLA valuation will guarantee the diamond replaced with the prefect like for like stone.
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Orange / yellow Orange one of the rarest colours found in natural diamond.
In 2014 a spectacular orange fancy vivid pear shape diamond mined in South Africa, weighing 14.82 carats was auctioned for a record price of $2.39 million per carat or $35.54m for the diamond. Setting a new record price per carat for any fancy colour.
The 1.03 ct Intense Fancy yellow Orange Round brilliant is made rarer because of the combination of the size, shape, colour and clarity.
The Diamond Watch that effortlessly turns into an exquisite ring
Created by Graff Diamonds a London based jewellers founded in 1960.
Fascination is a diamond encrusted masterpiece piece which features a 38.13 ct pear shaped diamond which can be worn as a ring or inserted into a diamond encrusted watch bracelet with 152.96 cts of white diamonds.
Graff uses only the very finest diamonds, resulting in the creation of the most fabulous jewels in the world.
The Fascination will be on show at the BaselWorld watch fair in Switzerland, which begins tomorrow.
Causes of colour in heat treated brown diamonds and synthetic brown diamonds are similar to treated pink diamonds.
In natural diamond the colour is related to a lattice imperfection. This can be mimicked in synthetic or treated diamond by a variety of treatments including annealing, heating or irradiating. The heat and pressure or irradiation can result in the lattice deviation resulting in the brown or pink colour.
Synthetic brown diamond is created by compressing graphite under extreme pressure and heat to above 1500 Celsius. The treatments were perfected in several laboratories in Russia, United States and China.
Lazare Kaplan Internationals Belgium subsidiary Pegasus Overseas Ltd marketed the General Electric processed diamonds under the name GE POL or in the USA as Bellataire.
This led to a technique for creating, or treating brown diamonds into higher valued colours like yellow or colourless diamond.
The disclosure of the treatment is noted by the “GEPOL” inscribed on the girdles of every treated diamond.
Brown diamonds are often marketed with expensive sounding names like Cognac, Champagne or Chocolate diamonds. Natural brown diamonds are a cheap alternative to more expensive colours.
