The diamond sector’s rebound from the Covid-19 crisis will feature ups and downs that will continue into next year at least, De Beers predicted. “The demand recovery is not expected to be linear, particularly as localized lockdowns take place,” De Beers explained Monday in its annual Diamond Insight Report. “Retailer expectations for the second half … Read more
Africa-focused Gem Diamonds became on Wednesday the latest miner to show signs of a slow but steady recovery in the market after showing it had swung to positive cash flow and slashed debt on the back of rising diamond prices. The company reduced its net debt position by $6.6 million in the July-September quarter, ending … Read more
Global miner Rio Tinto is seeking court approval to sell its partner’s share of diamonds from a mine in Canada’s Northwest Territories, a filing showed, hoping to recover around C$120-million plus legal fees and other costs. Rio owns 60% of Diavik Diamond Mines Inc (DDMI) and says it is owed C$119.5-million plus about C$2.4-million in … Read more
Petra Diamonds has abandoned plans to sell the business in favour of a debt-for-equity restructuring, it said on Tuesday, sending its shares lower because of the deal’s dilutive effect on existing stakeholders. The London-listed company, which mines diamonds in South Africa and Tanzania, had put itself up for sale in June as part of the … Read more
The future of the Ekati diamond mine in Canada’s Northwest Territories remains uncertain after Dominion Diamond Mines announced that a deal to sell it to a subsidiary owned by its parent company, The Washington Companies, has fallen apart. Dominion Diamond reported on Oct. 9 that three insurance companies – Aviva Insurance Company of Canada, Argonaut … Read more
Sotheby’s will sell the largest vivid purple pink diamond ever to appear at auction, with expectations it could achieve up to $38 million at a November sale. The oval modified brilliant-cut, 14.83 carat, fancy vivid purple pink, internally flawless, type IIa stone is set to go under the hammer at the Magnificent Jewels and Noble … Read more
The Diamond Heliconia Necklace, a creation from Piaget’s latest Wings of Light Collection, evokes a tropical bloom with 130 gorgeous pear-shaped diamonds. Piaget’s latest high jewellery collection, Wings of Light, invites you to escape to a fantasy land of magic, mystery, romance and rarity. The creations embody a flourishing natural utopia, while capturing the splendour … Read more
The Namibia Desert Diamonds General Manager of Sales and Marketing, Lelly Usiku, said the threat of synthetic diamonds has brought about an opportunity in the diamond industry to focus on the traceability of the precious stones to verify diamond origins from the mines to jewellery. Usiku expressed these sentiments during a panel discussion on the … Read more
A Muzo emerald and diamond necklace is expected to sell for up to HKD 80 million ($10.3 million) when it goes under the hammer at Christie’s Magnificent Jewels auction in Hong Kong on November 29. The double rivière piece, designed by Edmond Chin for the House of Boghossian, contains 28 perfectly cut and matched, near-flawless … Read more
A 102.39 carat D color flawless oval diamond was sold in a single lot auction for more than $15.6 million. The sale by Sotheby’s Hong Kong was the first time a diamond of more than 100 carats was sold in a combined online and live auction and such an important diamond was offered without reserve. … Read more