Petra Diamonds

Diana’s Twin Nieces Stun in Over 150 Carats of Diamonds at Tiffany & Co. London Gala

Twin models and aristocrats Lady Amelia and Lady Eliza Spencer, nieces of the late Princess Diana, brought dazzling sophistication to Tiffany & Co.’s exclusive Blue Book High Jewellery Collection showcase, held atop The Harrods Helideck. The glamorous event marked one of London’s most prestigious evenings on the fine jewellery calendar, attended by fashion royalty and social elites alike.

The Spencer sisters, daughters of Earl Spencer, embodied modern British elegance as they arrived in bespoke Jenny Packham gowns paired with more than 150 carats of Tiffany & Co.’s finest high jewellery pieces—masterworks of exceptional diamond craftsmanship.

High Jewellery Spotlight:
Eliza Spencer captivated in a silver mirror-embellished gown, perfectly complemented by the Ocean Flora necklace—an intricate platinum masterpiece featuring five unenhanced emeralds totalling over 10 carats, and a staggering 1,351 round brilliant diamonds totalling more than 44 carats. According to Tiffany & Co., this single piece took over 1,500 hours of artisan craftsmanship to complete, a testament to the meticulous design and precision that defines high jewellery.

Amelia Spencer wore a striking strapless black and gold sequinned gown and adorned herself with the same Tiffany necklace that supermodel Miranda Kerr wore to the 2025 Met Gala. The piece—a platinum and 18k gold choker set with Akoya pearls and diamonds—features more than 50 carats of gemstones, reflecting Tiffany’s modern reinterpretation of timeless elegance. Her ensemble was completed with diamond cluster earrings and a compact Aspinal of London Micro Hat Box bag.

Red Carpet Elegance Continues:
Just one day earlier, the Spencer twins turned heads at the Serpentine Gallery Summer Party, wearing custom crimson gowns by Anamika Khanna Couture and showcasing statement diamond pieces by legendary Swiss house, Chatila. The event came just days ahead of the 31st anniversary of Princess Diana’s iconic appearance at the same venue—an enduring moment in royal fashion history.

A Legacy of Diamonds and Royal Style:
The Spencer twins continue to honour their family’s legacy with graceful nods to their late aunt’s legendary style, but they are carving their own path in the fashion and jewellery world. Their presence at Tiffany’s high jewellery presentation not only highlighted the next generation of aristocratic style icons, but also reaffirmed the role of exceptional diamonds in telling modern luxury stories.

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At DCLA, we celebrate the enduring art of fine diamond craftsmanship. For more on gemological excellence and rare diamond showcases, stay connected to DCLA News.

Seized: $25m of Fake Cartier and Van Cleef and Arpels Jewelry

US customs officers seized five shipments of counterfeit Cartier and Van Cleef and Arpels jewelry mostly from China, with a combined “if genuine” value of over $25m.

Almost 2,200 items – rings, earrings, bracelets, and necklaces – were intercepted by Customs and Border Protection (CBP) officers in Louisville, Kentucky, as they arrived in the country.

The first shipment arrived from China on 19 June, heading to a residence in Pennsylvania. Officers seized 318 bracelets with fake Cartier trademarks.

The second arrived the same day from Hong Kong, destined for a residence in Tampa with 490 necklaces, 205 pair of earrings, and 80 rings, all with fake Van Cleef and Arpels trademarks.

Three more shipments arrived from China the following day containing 800 “Cartier” bracelets. Two shipments were heading to a residence in Fayetteville, North Carolina, the other was heading to Michigan.

The 2,193 items were deemed to bear counterfeit marks,” the CBP said. “Had these goods been genuine, the five shipments would have had a combined manufacturer’s suggested retail price of over $25.32m.”

LaFonda D. Sutton-Burke, director of field operations, Chicago field office, said: “Intellectual property theft threatens America’s economic vitality and funds criminal activities and organized crime.

“When consumers purchase counterfeit goods, legitimate companies lose revenue, which can force those companies to cut jobs. Our officers are dedicated to protecting private industry and consumers by removing these kinds of shipments from our commerce.”

Source: IDEX

Gemologists Uncover the Secrets Behind the Rarity of Red Diamonds

The Winston Red on display at the Smithsonian sheds light on nature’s rarest colour in diamonds

Red diamonds remain one of nature’s most elusive and captivating treasures. With only 24 specimens over one carat ever publicly recorded, their scarcity is legendary. Among them, the remarkable Winston Red has now taken centre stage at the Smithsonian National Museum of Natural History in Washington, DC.

This exceptional gem was donated in December 2023 by Ronald Winston, son of the renowned American jeweller Harry Winston. Weighing over one carat, the Winston Red is not only a visual marvel but also a scientific mystery—until now.

Recent research published in Gems & Gemology has provided unprecedented insight into what makes red diamonds so rare. Using advanced imaging and spectroscopic techniques, gemologists have identified that the Winston Red’s vivid crimson hue results from a combination of factors: a unique distribution of nitrogen impurities and a heavily deformed crystal lattice structure composed of tightly stacked red-to-pink layers.

These structural distortions—formed under extraordinary heat and pressure—are thought to alter the way light interacts with the diamond, giving rise to its intense red colour. Such conditions are extremely rare in the Earth’s mantle, further explaining the diamond’s scarcity.

Historical records trace the Winston Red as far back as 1938, when Jacques Cartier sold the stone to the Maharajah of Nawanagar. Combined with its cutting style and geological characteristics, the evidence suggests the gem likely originated from diamond-producing regions in Brazil or Venezuela.

For gemologists and collectors alike, the Winston Red represents both a scientific breakthrough and a pinnacle of natural beauty—an enduring reminder of the Earth’s ability to create something truly extraordinary.

Russia Still World’s Biggest Diamond Producer

Russia Alrosa Diamonds — *Mirny, Sakha Republic, Russia.*

Russia remained the biggest rough diamond-producing country in the world in 2024, by both volume and value, despite the impact of G7 sanctions.

By volume it accounted for 32 per cent of global production in 2024 – or 37.3m carats – according to newly-released figures by the Kimberley Process Certification Scheme.

And by value it accounted for 29 per cent – or $3.335bn.

Botswana came second by volume – 24 per cent, 28.2m carats – and a very close second by value – 28.8 per cent, $3.308bn.

Overall global rough output fell 10 per cent to $11.48bn.

India was the biggest importer (40 per cent by carats, 39 per cent by dollars) followed by UAE (29 per cent by carats, 24 per cent by dollars).

Source: IDEX

Rare purple diamond unearthed at Diavik

Vibrant 0.45-carat gem adds final flourish to Diavik’s closing years.
Just when it seemed Diavik had given all it could give, a rare purple diamond has been unearthed at the Northern Canadian mine – a 0.45-carat stone that stands out in a region better known for producing predominantly colorless gems and the occasional yellow stone, adding a splash of unexpected color as the operation approaches the final years of its mine life.

The discovery, quietly announced by Rio Tinto via social media, comes just weeks after the recovery of a 158.2-carat yellow diamond and a 50-million-year-old petrified log – both of which drew attention to the remarkable geological and historical treasures still surfacing from the remote subarctic site.

“We recently had a unique discovery at Diavik – a rare purple diamond weighing in at 0.45 carats,” the company wrote in a social media post on LinkedIn.

“Diavik diamonds are typically white, so this came as a pleasant surprise,” the post continued. “The purple colour likely comes from a trace element such as hydrogen or a twist in the crystal lattice structure of the diamond. The shape of the rough diamond is known as a ‘makeable’ which means it will likely be cut into a single diamond.”

Though small in size, the stone is striking for its rarity, with colored diamonds of any kind making up less than 1% of Diavik’s total production over more than two decades of operation.

Among them, purple diamonds are the rarest, their distinctive hue typically attributed to hydrogen impurities or plastic deformation deep in the Earth’s mantle – a result of the intense pressure and heat that alters the crystal structure during formation.

In gemological terms, purple diamonds are often classified under the broader category of “fancy color” stones, though few attain the deep saturation necessary for that label. More often, their shades fall within the purplish-pink or violet spectrum, with pure purple standing as one of the most elusive colors in the diamond world.

For Diavik, the recovery of such a specimen near the end of its mine life serves as both a scientific curiosity and a symbolic capstone.

Since beginning production in 2003, the mine has yielded over 140 million carats of rough diamonds – predominantly colorless, with a handful of exceptional yellow stones including the 552-carat “egg” discovered in 2018 and the more recent 158.2-carat find earlier this year.

Yet, while the occasional yellow diamond has offered moments of brilliance, the purple discovery stands out for its singularity.

While not the first purple diamond recovered from Diavik – industry veterans have noted smaller specimens dating back more than a decade – this 0.45-carat stone ranks among the most notable, particularly for its size, clarity, and timing near the end of the mine’s operational life.

Purple diamonds are so rare that only a few notable examples have surfaced globally, often fetching premium prices far beyond their white or even pink counterparts. Their appearance in the trade is sporadic, and their origin even more geographically restricted – making a Canadian purple diamond an especially uncommon occurrence.

Diavik’s purple gem is expected to be cut into a single polished stone, though no details have been released about where it might end up – in private hands, a high-profile auction, or perhaps a Canadian institution.

Whatever its path, the find adds a final chapter to Diavik’s legacy – a small but vibrant reminder that even in its twilight, the remote Arctic mine remains full of surprises.

Source: Miningnewsnorth.com

Unique Patek Philippe Sells for $4.3m

A unique Patek Philippe watch sold for $4.3m at Sotheby’s New York – the highest price realized by the auction house for a timepiece this year.

But it was well below the $7.75m achieved by the same watch when it changed hands at Sotheby’s Hong Kong.

The pink gold perpetual calendar chronograph wristwatch with moon phases, was made in 1957 and was sold by the Milan-based retailer Gobbi Milano.

It was one of just nine made and is the only one known to still exist.

A private collector paid $4.3m for the watch, which had a pre-sale estimate of $3m to $5m. It led the Important Watches: Take a Minute sale last Tuesday (10 June).

In 2007 the watch sold for CHF 2.7m ($2,.2m at historic exchange rate) at Christie’s Geneva.

Source: IDEX

Alrosa Concludes Sale of Share in Catoca

Alrosa has concluded the sale of its 41 per cent share in Catoca, Angola’s state-controlled diamond miner, drawing an end to a 32-year partnership.

It has been acquired by Taadeen, a subsidiary of Oman’s sovereign wealth fund.

The move was announced last November, after Angola’s mineral resources minister Diamantino Azevedo described Alrosa, the sanctioned Russian miner, as a “toxic partner”.

The transfer was formalized on 26 May and leaves Angola’s national diamond company Endiama EP retaining a controlling 59 per cent.

Catoca’s updated website now lists its company shareholder structure as: “Endiama EP (National Diamond Company of Angola) – 59% Taadeen (Subsidiary company of the Sovereign Wealth Fund of Oman) – 41%”.

No financial details of the share transfer have been released.

Alrosa acquired 32.8 per cent of Catoca shares in 1992, soon after the country’s long-running civil war came to an end, and increased its stake to 41 per cent in 2018.

Source: IDEX

Petra Diamonds rethinks sales tactics as market slump drags on

Africa-focused Petra Diamonds has scrapped regular diamond tenders in favour of opportunistic sales as the market for rough stones continues to slump.

The miner reported $53 million in sales from its fifth and sixth tenders of the year, covering production from its two South African mines. Petra will now report sales on a quarterly basis instead of following a fixed tender schedule.

“In response to fluctuations in diamond prices and demand, the company no longer follows regular tender cycles and may postpone portions of tenders or sell goods as run-of-mine,” the company said.

The strategic pivot mirrors De Beers’ reported off-market sales of discounted diamonds to selected clients. The move aimed to reduce inventory without officially slashing prices.

Petra said it sold 613,747 carats in the two tenders, a 29% increase from its fourth tender in February. The average price was $86 per carat, about 4% higher than February’s auction. On a like-for-like basis, prices were down 16% compared to the first six tenders of 2024, largely due to lower-value goods.

Year-to-date, the company has sold 2.39 million carats for $239 million, down from $329 million over the six first tenders of its 2024 financial year.

Petra delayed its April and May tenders due to a weaker product mix at its flagship Cullinan mine. The Finsch mine, meanwhile, saw improved pricing thanks to better ore access. The company expects an improved product mix as it ramps up production from the CC1E and the western side of the C-Cut block.

Petra also drew an additional $33 million in debt, bringing its consolidated net debt to $258 million by the end of March. It attributed this to working capital requirements.

“The continuing challenges in the diamond market and the weaker sales do not bode well given the ongoing negotiations to refinance Petra’s debt obligations,” Raj Ray, an analyst at BMO Capital Markets, wrote on Monday.

Petra has been restructuring to cut costs, including the sale of its stake in Koffiefontein in October and the recent $16 million sale of the Williamson mine in Tanzania.

Petra shares fell almost 3.5% on the news to 19.5 pence each, putting its market cap at about £38 million ($51 million).

Source: Mining.com

Relief Package for Surat’s Diamond Workers

A limited relief package has been announced for diamond workers and small manufacturing units in Surat.

The Gujarat state government is responding to widespread job losses and economic hardship among the estimated one million diamond workers in Surat as the global slowdown persists.

The relief package, as detailed by chief minister Bhupendra Patel, will cover school fees for children of jobless diamond artisans in full, subject to certain conditions.

Small diamond manufacturing businesses will be eligible for low-interest loans and a one-year year exemption from the duty charged on their electricity bills.

The move has been given a cautious welcome by the Diamond Worker Union Gujurat, but there are ongoing calls for more comprehensive support, particularly for unregistered workers and families affected by the crisis, as well as for families of diamond workers who have taken their own lives.

Source: IDEX

DCLA to Continue Full Grading of All Diamonds, Including Laboratory-Grown

The Diamond Certification Laboratory of Australia (DCLA) reaffirms its commitment to providing precise and comprehensive grading for all diamonds, including laboratory-grown stones. This approach ensures consistency, transparency, and informed decision-making across the industry.

While the GIA has announced it will introduce a simplified classification system for lab-grown diamonds — using the categories “Premium” and “Standard” — the DCLA will maintain its tradition of detailed grading across the full range of quality characteristics. This includes reporting actual colour, clarity, cut, and carat weight for every diamond submitted, regardless of its origin.

The GIA’s new system, expected later this year, will group lab-grown diamonds based on overall appearance and finish, with certificates including carat and cut details but without specific colour and clarity grades.

DCLA recognises that both natural and laboratory-grown diamonds hold unique value and significance. By continuing to offer full grading reports, the DCLA supports both the trade and consumers in understanding and appreciating the distinct qualities of each stone.

At DCLA, we believe that consumers and the trade deserve full and detailed grading information, regardless of the diamond’s origin. Misrepresentation and confusion are more likely to arise when simplified or vague grading systems are used — especially as laboratory-grown diamonds become more prevalent in the market.

As Australia’s official CIBJO laboratory, DCLA remains dedicated to upholding the highest international standards in diamond certification and grading.