The positive sentiment the diamond market experienced during the past few months was a welcome change from the gloomy tone that characterized 2020. Buoyed by holiday sales that proved better than expected, the trade gained the confidence to buy again, even with activity limited mostly to online platforms. For the first time in many years, … Read more
After a devastating 2020 which saw a near-collapse in the global diamond trade, Mountain Province Diamonds‘ latest sales figures show the sparkle may be starting to return to the diamond sector. The 49% owner of the Gahcho Kué mine in the Northwest Territories, operated by 51% owner De Beers, sold 241,827 carats of diamonds for $21.8 million … Read more
Struggling Petra Diamonds (LON: PDL) said on Wednesday its investors have approved plans to restructure the business, a move that aims to provide the miner with a more stable, deleveraged capital structure to ensure its short and long-term viability. Over 95% of shareholders voted in favour of a resolution that includes reducing authorized share capital … Read more
Lucapa Diamond Company and its partner, the Government of the Kingdom of Lesotho, have provided an update on the first sale of diamonds in 2021 from the Mothae kimberlite mine in Lesotho. The parcel of 4,676 carats of rough diamonds were sold for a total of US$5.6 million or US$1,198 per carat. This is the … Read more
Diamond trading was seasonally slow in December as the industry’s focus shifted to retail and as diamantaires took their end-of-year break. Sentiment received a boost from strong holiday e-commerce sales, the distribution of Covid-19 vaccines, and the US approval of a $900 billion coronavirus stimulus package. Polished prices firmed as supply declined due to limitations … Read more
A 14.7-carat diamond ring was the top seller for Christie’s in Paris, nearly tripling its high estimate. The marquise-cut, E-color, SI1-clarity stone sold for EUR 437,500 ($531,812), or $35,322 per carat, well above its EUR 150,000 ($182,333) upper valuation. It was one of a number of noteworthy diamonds that led the sale Paris Jewels sale, … Read more
De Beers has reduced its production plan for the next two years, aiming to avoid releasing too much rough into the market as the diamond sector attempts to exit the crisis that dominated 2020. The miner expects to unearth 33 million to 35 million carats in 2021, down from its previous forecast of 34 million … Read more
A Cartier emerald and diamond ring blew past five fancy colored diamonds to become the top lot at Sotheby’s New York Magnificent Jewels auction held Wednesday. It fetched $3.6 million, more than three-and-a-half times its high estimate. The ring features a 21.86-carat Colombian square-emerald-cut emerald flanked by diamonds and mounted on 18k yellow gold. The … Read more
Botswana Diamonds (LON:BOD) said on Monday it had completed the acquisition of Sekaka, the exploration vehicle that belonged to embattled rival Petra Diamonds (LON:PDL) and which held three prospecting licenses in the country’s Central Kalahari Game Reserve. In one of its licenses, Sekaka had singled out the KX36 kimberlite pipe, which is situated about 70 … Read more
Swiss technology provider Synova has expanded its automated diamond-cutting system to include fancy shapes, it said Monday. The company, which is part-owned by De Beers, unveiled the DaVinci Diamond Factory last year at the Dubai Diamond Conference. Synova claims the machine will significantly speed up diamond manufacturing from weeks to hours, improve accuracy and symmetry, … Read more