The famous Cullinan diamond, which is now the centrepiece of the British Crown Jewels, likely originated in Earth’s lower mantle, right beneath the rigid and stable continental plates, where the mantle is slowly moving or convecting. The finding is part of ongoing research carried out by Evan Smith and Wuyi Wang at the Gemological Institute … Read more
A 3.01-carat, fancy-vivid-blue diamond ring, carrying a high estimate of $6.3 million was among a number of headline items that failed to find buyers at Sotheby’s Geneva auction. Sotheby’s withdrew the stone from Tuesday’s Magnificent Jewels and Noble Jewels Part II at the request of the consigner, it told Rapaport News Wednesday. The sale, which achieved a … Read more
Live jewelry auctions are returning with the first one being held in Geneva by Sotheby’s on June 23 offering a diverse collection of statement diamonds, colored gems and historic jewels. Sotheby’s Part II Magnificent Jewels & Nobel Jewels – Geneva sale was originally scheduled for May but was postponed due to the novel coronavirus pandemic. The … Read more
Canada’s Dominion Diamond Mines is suing Rio Tinto’s subsidiary DDMI, its associate in the iconic Diavik mine, for alleged breach of contract and acting against the best interests of the partnership. The lawsuit, filed on Tuesday in the Supreme Court of British Columbia, alleges that Diavik Diamond Mines, which owns 60% of Diavik, has operated … Read more
The Diamond Producers’ Association (DPA), established only five years ago by a coalition of diamond miners including De Beers and Alrosa, has relaunched as the Natural Diamond Council. In addition to continuing to advertise natural diamonds as the DPA did previously, the council is also hoping to reach younger consumers by producing catchy editorial content … Read more
Tiffany & Co said its jewelry business is rebounding in China after the coronavirus pandemic and its merger with French luxury retailer LVMH is clearing regulatory hurdles. The U.S. jewelry maker said Tuesday in an earnings release that its same-store sales were down about 44% in the fiscal first quarter as the pandemic shuttered shopping … Read more
De Beers executive Feriel Zerouki will succeed Edward Asscher as president of the World Diamond Council (WDC) in 2022, the organization said Monday. Zerouki, De Beers’ senior vice president of international relations and ethical initiatives, will become the first woman to head the WDC, which works to keep conflict diamonds out of the supply chain. … Read more
Alrosa’s long-term clients bought 102 of more than 800 large rough diamonds offered in the company’s biggest ever digital tender. The remaining stones will now be made available to other customers to select from 5-10 carats batches.For the first time, the Russian state-owned miner sold diamonds online from boxes, piece by piece, in response to … Read more
Botswana Diamonds PLC announced that it has concluded the processing of two bulk samples taken from the Marsfontein diamond development project in the Limpopo Province of South Africa. The samples comprised 58-tons of fresh high-interest kimberlite and 62-tons of kimberlitic material from one of the residual stockpiles, known as ‘Dump E’. Highlights: 87 macro diamonds were recovered from the fresh … Read more
Swiss watch exports plunged in April as coronavirus lockdowns brought the entire supply chain to a near halt. “Swiss watch exports were extremely low in April as a direct result of the standstill in production, distribution and sales, causing them to collapse,” the Federation of the Swiss Watch Industry reported Tuesday. Shipments slid 81% to … Read more