news – Page 44 – The Diamond Certification Laboratory of Australia (DCLA)

Alrosa Russian Diamond Miner Recovers 27.85 carat pink diamond

Exceptional Large Pink Diamond Discovered in Russia Could Be Most Expensive ever by Alrosa

Alrosa Diamond Mining is examining the rough and will decide on whether to sell it as a rough diamond, or cut and polish it in house.

The Rough Diamond is high quality and could make it Alrosa’s most expensive diamond if it decides to cut and polished the stone.

Chief Executive Officer Sergey Ivanov said Alrosa has mainly focused on rough diamond mining, will increase revenues from its polishing unit.

Botswana Wants Option to Buy Unusually Big Diamonds

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.

SELLING YOUR DIAMOND ?

If you are you considering selling your diamond, but feel as though you have no idea how or where to begin with the process?

This article will give you a few tips to help you along the way.

TIP #1 Diamonds are usually given to display love, making the sentimental value higher to the seller than the actual value to a buyer. Should you be in the market to sell your diamond, make sure you are ready to part with the diamond before beginning the process.

TIP #2 Be sure of the quality and authenticity of what you are trying to sell. Make sure of the quality and the grade of the stone. This is most important for the ultimate value of the diamond. There have been many instances where a seller is committed to selling their diamond only to find out the quality isn’t as described when originally purchased.

There are Jewellers or services available, who will give an unbiased assessment of your stone. But it is far more valuable in the long run to get a report from a recognised Laboratory.

It is also recommended to verify the report matches the Laser inscription before placing your diamond on the market, to assure your diamond is the same stone should it not sell.

TIP #3 Now that you have an accurate report of the quality, make sure you get a realistic selling value. Believing the diamond holds a higher value than it truly possesses will lead to a challenging, frustrating experience which can be dragged out.

An appraiser can assist you with determining a fair selling, price so you can avoid this pitfall. Diamonds are priced in US dollars, so your diamonds price will be affected when converted to your local currency.

A good way to see current retail values is to visit online stores like dcladiamondexchange.com.au or bluenile.com.

TIP #4 There are many ways to sell a preloved diamond or diamond jewellery. Research your selling options to make an educated decision that works best for you. Be it an online market or exploring options through a local jeweller or dealer, be sure you are using the best option for your needs.

Example, if time is not of the essence, an online market or an auction house could be the best way forward. If you want a quick sale, visiting your local dealer may be the best option.

DCLA Diamond Laboratory provides an internationally recognised and respected report to any seller or prospective buyer.

DCLA will provide you with an experience expert to advise you and give you the accurate value protecting you when selling. Our goal is to provide you with as much knowledge as possible.

Visit www.dcla.com.au for information advice or to make an appointment.

Or call us on 1300 413 425 or Sydney 02 92612104

Petra Diamonds suspends operations at its Tanzania mine

The Tanzanian governments confrontational approach to miners operating in the country including Petra Diamonds, has led to Petra suspending operations at its mine.

The Tanzanian government seized a shipment of rough diamonds belonging to Petra. They also question and held a number of staff in the latest assault on the African country’s mining sector.

This includes the concentrate exports ban and the non repayment of value added tax.

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Zimbabwe ruling elite linked to disappearing diamonds

An anti corruption group alleges it has evidence linking Zimbabwe’s ruling elite to a decade of disappearing diamond wealth. Top security and political leaders steeling and profiting from Zimbabwe’s diamond reserves.

London based Global Witness report published on Monday, accuses Zimbabwe’s Central Intelligence Organisation spy agency of concealing a stake in Kusena Diamonds in the Marange diamond fields in eastern Zimbabwe.Diamonds produced by the CIO linked company are traded in Dubai and Antwerp two of the world’s leading marketplaces and have funded political repression.

Zimbabwean military, and the government itself with the Companies have concealed their finances and shielded their operations from public scrutiny.

Zimbabwean officials had no immediate comment.

Tanzania confiscates diamonds from British mining company

The Tanzanian government has announced the seizure of diamonds worth an estimated $29.5 million after accusing British company Petra Diamonds, of undervaluing the worth of the gems.

Minister of Finance Philip Mpango stated on Sunday that he had “nationalized” these diamonds, extracted from the Williamson Diamonds mine, 75% owned by Petra Diamonds and 25% by the Tanzanian government.

The diamonds were seized on 31 August at the Dar es Salaam International Airport while being exported to Belgium.

According to the Tanzanian authorities, Williamson Diamonds’ documents indicated an estimated cargo of $14.7 million, while the actual value of diamonds, deliberately undervalued, was $29.5 million.

“Williamson Diamonds documents give these diamonds a value of $14.7 million (pre-market) while the actual value is $29.5 million,” the Finance Ministry said in a release Saturday.

On Thursday, two former senior mining officials, quoted in parliamentary reports on alleged embezzlement linked to diamond mining and trading, resigned on the orders of President John Magufuli.

Former Minister of Mines, George Simbachawene, who until his resignation was Minister of State for Local Government, and the former head of the National Mining Company (STAMICO), Edwin Ngonyani, Deputy Minister of Public Works and Transport until Thursday.

The two ministers resigned at the orders of President Magufuli, who had just received the findings of two parliamentary reports that put them in question.

President Magufuli demanded that all current government officials be blamed for this case and leave without waiting for them to be dismissed.

Nicknamed “Tingatinga” (bulldozer in Swahili), President Magufuli has marked the spirits since taking office at the end of 2015 by being inflexible in the fight against corruption.

He hired a tug of war with the large foreign mining companies operating in Tanzania, after a parliamentary report accused them of dumping their production, resulting in a tens of billions of dollars in taxes and royalties since 1998.

But Mr. Magufuli’s unconscious and abrupt style also earned him the title of autocrat and populist by his detractors, while freedom of expression is increasingly reduced in the country.

Classic car prices drop but diamonds and wine shine

Old Master paintings and classic cars have lost the luster, But the uber rich have seen their jewellery, fine wine and musical instruments jump in value again.

This according to to the Blue blooded UK bank Coutts’ passion index of the finest things. Now in its twelfth year.

Thanks to 16.4 percent rises in instrument, 11.6 percent in jewelry prices and a near 10 percent jump in wines. Also a rise in watch prices of 6.7 percent.

One of the biggest jumps is for coins where gains since 2005 hit 225 percent.

Ferrari, Aston Martin, Jaguar ,Porsche and other collectable Classic cars whose prices have risen more than 332 percent since 2005, also went into decline.

Prices for fine art dropped between 4.3 and 7.9 percent last year. Post the financial crisis the Old Masters and 19th Century Art has been the worst performers. Down by more than 40 percent on a cost adjusted return basis.

Diamond stockpiles Increase In Indian Companies

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.

Diamond Futures Exchange Launches In India

To help the Diamond industry limit losses when polished prices fluctuate. The Indian Commodity Exchange has launched the first diamond futures trading contract.

Diamond futures contracts work as price insurance, when fluctuations impact the value of inventories. With the futures trading traders agree on a price for a contract.

The new exchange platform gives investors a format similar to commodities exchanges such as Comex, Nymex and the London Metal Exchange.

Over 100 members and approximately 4,000 clients have registered with ICEX exchange.

The Indian government approved diamond futures trading in September 2016.