Pink Diamond – Page 4

Why Old Mine Cut Diamonds Are Back in Vogue

In a world where modern technology has made diamond cutting more precise than ever, there has been a surprising revival of one of the oldest styles in diamond history – the old mine cut. Once considered outdated compared to today’s brilliant cuts, these antique gems are now finding favour among collectors, jewellery designers, and couples searching for something truly unique.

A Glimpse into History

The old mine cut originated in the 18th and 19th centuries, long before advanced cutting technology existed. Cut by hand, often by candlelight, each stone carries its own distinctive character. With their cushion-like shapes, high crowns, and larger culets, old mine cuts reflect the craftsmanship of a bygone era. These diamonds were the predecessor to today’s modern round brilliant and are often set in antique or Victorian-era jewellery.

The Allure of Imperfection

Unlike modern cuts that maximise sparkle through precision, old mine cut diamonds are celebrated for their individuality. Their facets were designed for softer, romantic light sources like candlelight, giving them a warmer, more subtle glow. For many buyers, this charm lies in their imperfections – no two are exactly alike.

Sustainability and Authenticity

As sustainability becomes increasingly important in jewellery, old mine cut diamonds are seen as an eco-conscious choice. They are recycled treasures, requiring no new mining, which makes them especially appealing to ethically minded consumers. Owning one also means owning a tangible piece of history – a connection to a time when diamonds were cut entirely by hand.

Modern Designers Embrace the Vintage Appeal

Jewellery houses and bespoke designers are incorporating old mine cut diamonds into contemporary settings, blending antique beauty with modern design. Their romantic look pairs well with minimalist mountings, allowing the character of the stone to shine through. Many brides-to-be are also choosing them for engagement rings, preferring their vintage charm over mass-produced, uniform cuts.

A Market on the Rise

With limited supply and growing demand, old mine cut diamonds are becoming more sought after. Collectors appreciate their rarity, while younger generations value their individuality and authenticity. This resurgence has pushed prices higher, making them not just a sentimental choice, but also a potentially wise investment.

The revival of old mine cut diamonds reflects a broader trend in the jewellery world: a desire for uniqueness, sustainability, and authenticity. Far from being a relic of the past, these antique diamonds are back in vogue – and for many, they represent the perfect blend of history and timeless beauty.

Lucara Recovers Rare 37-Carat Pink Diamond from Karowe

Lucara Diamond Corp. has announced the recovery of a rare and unusual pink diamond from its Karowe mine in Botswana.

The 37.42-carat stone, classified as a Type IIa, was unearthed in August and is described as near-gem quality with a distinctive bicoloured appearance. While the majority of the diamond displays an intense pink hue, part of the stone appears partially colourless an exceptionally rare feature.

HB Antwerp, Lucara’s cutting and technology partner, described the discovery as “a rare and remarkable find.” Oded Mansori, co-founder of HB Antwerp, noted:
“This stone has the potential to become one of the most important pink diamonds ever polished. Its intensely rich coloration is a testament to the geological uniqueness of the Karowe mine, and our expertise in the manufacturing process will ensure its vibrant colour is maximised.”

The recovery underscores Karowe’s reputation as a consistent source of exceptional diamonds. Also in August, Lucara recovered a 1,019.85-carat non-gem-quality diamond, the third stone of more than 1,000 carats to be found at Karowe in 2025. This brings the total number of diamonds over 1,000 carats from the mine to nine.

Both diamonds were recovered from the EM/PK(S) section of the deposit using Lucara’s Mega Diamond Recovery (MDR) unit, an advanced X-ray transmission system installed in 2017 to identify and preserve large stones. The MDR is credited with detecting several of Karowe’s most significant recoveries, including the 2,492-carat diamond discovered in August 2024—the second-largest rough diamond ever found.

Meanwhile, Lucara has announced a $10 million drawdown from its $63 million standby loan facility with Nemesia, its largest shareholder, to address short-term funding needs for the Karowe underground expansion project. The $683 million project, now scheduled for completion in the first half of 2028, is expected to extend the mine’s life to at least 2040.

Lucara President and CEO William Lamb said the arrangement reflects the company’s commitment to financial prudence while advancing the underground project.
“This funding mechanism demonstrates the continued confidence and support of our major shareholders in Lucara’s long-term strategy and in the exceptional value potential of the Karowe mine, including the ongoing recovery of some of the world’s most significant diamonds.”

Sotheby’s to Sell 31.86 carat Pink Diamond in Abu Dhabi

Sotheby’s is to offer for sale the largest fancy vivid orangy pink diamond ever graded, at a debut event in Abu Dhabi in December.

The pear-shaped gem, known as the Desert Rose, weighs 31.86 carats and is expected to fetch $5m to $7m.

It is the jewelry highlight of Sotheby’s inaugural Abu Dhabi Collectors’ Week of exhibitions, sales, masterclasses and panel discussions.

The Desert Rose is part of a single-owner collection of watches and jewelry, including vintage and contemporary signed pieces, that is estimated to raise more than $20m in total.

Among the watch highlights is an exceptionally rare Rolex “Oyster Albino” Daytona, reference 6263, produced in the late 1960s and early 1970s, with an estimate of $500,000 to $1m.

Abu Dhabi Collectors’ Week takes place from 2 – 5 December on Saadiyat Island, just off the Abu Dhabi coast.

It coincides with the Abu Dhabi Grand Prix and features auctions of collector cars, real estate, and international fine art exhibitions.

Source: IDEX

Lab Grown Diamond Market to Hit $44bn

The global lab grown diamond market will grow 60 per cent in the next seven years, from $27.7bn this year to $44.5bn in 2032, according to India-based Coherent Market Insights (CMI).

That represents a compound annual growth rate (CAGR) of 7 per cent annually. It did not provide comparable figures for the natural diamond market, although growth there is expected to be considerably slower.

The CMI report identifies North America as the current market leader, expected to capture roughly 40% of global demand in 2025.

However, it says the Asia-Pacific region, which currently accounts for 40 per cent of lab grown sales, is projected to experience the fastest growth, driven by rapid industrialization and increasing disposable incomes.

China is the biggest producer – accounting for almost half of global production – but most is by HPHT, an older and less sophisticated system than CVD.

Source: IDEX

What Is a Diamond Culet?

The culet is the tiny facet at the very bottom of a diamond’s pavilion.

When looking closely at a diamond’s cut, one feature that often goes unnoticed is the culet. Though small, this detail plays a role in both the durability and the overall appearance of a stone.

Defining the Culet

The culet is the tiny facet at the very bottom of a diamond’s pavilion. Traditionally, it was cut to protect the fragile tip of the diamond from chipping or damage. In modern cutting, many diamonds are fashioned with either a very small culet or none at all, creating what appears to be a sharp point.

When viewed under magnification, a culet may look like a small circle in the centre of the diamond’s table (the flat top surface). Grading reports will often describe it using terms such as “None,” “Very Small,” “Small,” or “Medium.”

The Purpose of the Culet

Durability: The culet prevents the diamond’s pointed tip from breaking during setting or daily wear.

Light Performance: A well-proportioned culet has little to no effect on brilliance, but if the culet is too large, it can be visible through the table, appearing as a dark spot.

Aesthetic Tradition: Older cuts, such as Old European or Old Mine cuts, often feature larger culets, which are considered a hallmark of antique diamonds.

What if the Diamond Has No Point at the Bottom?

In modern cutting, some diamonds are designed without a defined point or traditional culet at the base. Instead of tapering to a sharp tip, the pavilion may finish with a flattened surface or an elongated structure.

This is sometimes informally described as a linear culet—a feature where the bottom of the stone forms a line or edge rather than a point.

Linear Culet – Not Standard Terminology

It’s important to note that “linear culet” is not a recognised term in official diamond grading systems. Laboratories such as GIA (Gemological Institute of America) or DCLA (Diamond Certification Laboratory of Australia) will not use this terminology on grading reports. Instead, they simply describe the culet as “None,” “Pointed,” or with size descriptors.

However, for a novice jeweller and clients, the term linear culet can be a helpful way of communicating what the eye perceives — especially in cases where the diamond clearly does not come to a point. Using this descriptive language provides clarity in conversation, even if it doesn’t appear on formal certificates.

Conclusion

The culet may be one of the smallest aspects of a diamond, but it reflects both the stone’s cutting tradition and the cutter’s intention to balance brilliance with durability. Whether pointed, open, or even described informally as linear, the culet is a fascinating detail that connects modern diamonds with centuries of cutting history.

Lucara Recovers 1,019 Carat Diamond and Rare Pink Type IIa at Karowe Mine

Lucara Diamond Corp has announced the recovery of two notable stones from its 100% owned Karowe Mine in Botswana during August 2025.

The most significant find is a 1,019.85 carat non-gem diamond, recovered through Lucara’s Mega Diamond Recovery unit. This marks the ninth diamond weighing over 1,000 carats to be recovered from Karowe, and the third such discovery in 2025 alone. In addition, the company reported the recovery of a 37.42 carat near-gem pink Type IIa diamond.

Both stones were recovered from processing EM/PK(S)1 material — the same unit that has produced the majority of the world’s largest recorded natural diamonds.

William Lamb, President and CEO of Lucara, stated that drawing $10 million from the company’s Standby Undertaking with its largest shareholder was a strategic step to ensure financial flexibility during the ongoing Underground Project (UGP) capital programme. He added that the recovery of such exceptional diamonds continues to demonstrate the long-term value potential of Karowe and the ongoing confidence of Lucara’s shareholders.

Global Diamond Market Turmoil: Botswana Declares Health Emergency, India Faces Tariff Shock, Zimbabwe Strengthens Ties with India

The volatility in the global diamond industry is beginning to have severe humanitarian and economic consequences across producer and manufacturing nations. Recent developments highlight the fragility of economies that rely heavily on diamonds, and the urgent need for market stability.

Botswana: Diamond Slump Triggers Public Health Emergency

Botswana, the world’s leading diamond producer by value, has declared a public health emergency after revenues from diamond sales halved in 2024. Production is expected to fall by at least 25 per cent this year, leaving the government with severe financial shortfalls.

Earlier today (25 August), President Duma Boko announced the emergency, citing a critical shortage of essential medicines. To address the crisis, 5 billion pula (USD 348m) has been reallocated from other government funds, while the state-owned Botswana Development Corporation has pledged 100 million pula (USD 7.3m). The president has also appealed to pension and insurance funds for support.

The military has been mobilised to distribute urgently needed medical supplies to rural areas. The Ministry of Health has identified shortages in medicines for hypertension, cancers, diabetes, asthma, eye conditions, tuberculosis, sexual and reproductive health, and mental health.

Although President Boko has referred to “market challenges” in official statements, local and international media have directly linked the crisis to collapsing diamond revenues, underlining the nation’s heavy dependence on the industry.

India: Tariffs Threaten 150,000 Diamond Jobs

In India, which processes the vast majority of the world’s diamonds, the industry faces a fresh crisis as the United States prepares to double tariffs on polished stones from 25 per cent to 50 per cent on 27 August.

The Diamond Workers Union Gujarat (DWUG), which represents a large section of Surat’s workforce, has warned Prime Minister Narendra Modi that the tariff hike could wipe out 150,000 to 200,000 jobs – nearly a fifth of India’s diamond workforce.

DWUG is urging the government to revive the Ratnadeep Scheme, originally introduced in 2008–09 during the global financial crisis. The scheme provided retraining opportunities and a daily stipend for unemployed diamond workers.

The union has also raised alarm over rising distress among workers, noting that at least 80 unemployed diamantaires have taken their lives in the last two years.

Zimbabwe: Building Closer Trade Links with India

While Botswana and India face mounting pressures, Zimbabwe is positioning itself to deepen diamond trade relations with India.

Vice President Constantino Chiwenga recently visited Surat to explore direct trade agreements that would bypass intermediaries. He also invited Indian investors to consider joint ventures in Zimbabwe’s mineral processing and industrial sectors.

With US tariffs on Zimbabwean diamonds set at 15 per cent – compared to India’s new 50 per cent rate – Zimbabwe sees an opportunity to attract Indian buyers and investors.

During the visit, Chiwenga met with leaders of Hari Krishna Exports to discuss partnerships aimed at moving Zimbabwe further up the value chain, from rough exports to local cutting, polishing, and manufacturing. Such developments could create significant employment opportunities, build local expertise, and reduce poverty in diamond-producing communities.

The Bigger Picture

These three stories highlight the immense global impact of diamond market fluctuations. For producer nations like Botswana and Zimbabwe, as well as manufacturing hubs like India, the stakes are not merely financial – they are deeply social and humanitarian.

The current instability underscores the importance of transparent, sustainable, and diversified diamond economies, alongside stronger international collaboration, to secure both industry resilience and the livelihoods of millions who depend on it.

Dubai’s Jemora Group Acquires Lucapa Diamond Company and Its Global Mining Interests

Dubai, UAE – Gaston International, part of Dubai’s Jemora Group, has finalised an agreement to acquire Lucapa Diamond Company Ltd., securing control of its mining and exploration assets across Angola and Australia. The deal, valued at approximately USD $10 million, marks a significant shift in ownership for one of the sector’s most recognised niche producers of large, high-value diamonds.

Lucapa, previously listed on the ASX, entered voluntary administration in May 2025. Administrators Richard Tucker and Paul Pracilio of KordaMentha Restructuring oversaw the sale process after assessing the company’s financial position and operational assets.

Strategic Assets in Angola and Lesotho

Lucapa’s flagship holding is its 40% stake in the Lulo alluvial diamond mine in Angola, widely regarded as the highest dollar-per-carat mine in the world, achieving an average of USD $2,806 per carat in 2021. The balance of ownership is held by Angola’s state-owned Endiama and private partner Rosas & Petalas.

Since mining began in 2015, Lulo has yielded an extraordinary run of large and rare stones, including 48 Type IIa diamonds exceeding 100 carats. Among them are Angola’s largest ever recorded diamond—the 404-carat “4 de Fevereiro”—and the 170-carat “Lulo Rose”, a rare pink diamond discovered in 2022. Current estimates suggest Lulo still contains 249,000 carats of recoverable diamonds.

Supporting this production are two modern processing plants capable of handling 600,000 cubic metres of gravel annually, equipped with advanced recovery technology specifically designed to maximise recovery of large diamonds.

In addition, Lucapa retains a 39% interest in the Lulo Kimberlite Exploration Project, with Endiama (51%) and Rosas & Petalas (10%). More than 100 kimberlite pipes have been identified within the concession, several containing Type IIa diamonds—strongly suggesting the primary source of Lulo’s exceptional large stones lies within this exploration area.

Lucapa had previously held a majority stake in the Mothae mine in Lesotho, but divested its interest in 2024 as part of a portfolio streamlining initiative.

Expansion into Australia

The acquisition also includes Lucapa’s Australian assets, headlined by the Merlin Diamond Mine in the Northern Territory. Merlin is renowned for producing Australia’s largest diamond and is notable for its gem-quality output—historically, 75% of its recovered diamonds have been classified as gem or near-gem quality, including rare coloured diamonds in yellow, pink, and blue hues.

In addition, Gaston inherits Lucapa’s 80% interest in the Brooking Diamond Project in Western Australia, a promising package of exploration tenements, as well as a base metals project tied to Merlin.

Gaston’s Strategic Outlook

Gaston International stated it intends to work closely with Lucapa’s existing partners and management to maximise the long-term value of these assets. The company views both the operational production at Lulo and the exploration potential of its kimberlite concessions as major growth drivers.

The transaction remains subject to regulatory and court approvals, as well as creditor consent, before share transfers can be completed.

With this acquisition, Jemora Group expands its footprint in the natural diamond sector, positioning itself among the few entities with a diversified portfolio spanning Africa’s premier diamond deposits and Australia’s most significant gem-quality mine.

Will US Tariffs Threaten the World’s Largest Diamond Cutting Hub?

In Surat, India’s famed “Diamond City”, where 14 out of every 15 natural diamonds are cut and polished, a deepening crisis is unfolding.

For Kalpesh Patel, a 35-year-old owner of a small diamond cutting and polishing unit, this year’s Diwali could mark more than just a festival of lights — it may signal the lights going out on his eight-year-old business. Patel employs 40 workers transforming rough stones into polished gems destined primarily for the United States. But with the recent announcement by US President Donald Trump of a 50% tariff on imports from India — taking the total duty on cut and polished diamonds to 52.1% — the industry’s already fragile state may tip into collapse.

The US is India’s largest export market for diamonds, accounting for over one-third of total shipments. In the 2024–25 financial year, India exported $4.8 billion worth of cut and polished diamonds to the US, out of a total $13.2 billion worldwide. For many small and medium-sized manufacturers in Surat, Ahmedabad, and Rajkot — employing more than two million people — this trade lifeline is now under severe threat.

An Industry Already Under Pressure

The tariffs arrive on top of multiple recent challenges. The COVID-19 pandemic slowed global luxury demand, the Russia-Ukraine conflict restricted access to rough diamonds, and the G7 ban on Russian stones further strained supply chains. Salaries for many diamond workers in Gujarat have already been halved in recent years, with some forced into poverty-level incomes. Tragically, industry unions report dozens of suicides linked to the ongoing downturn.

Lab-grown diamonds have added to the pressure, offering consumers a lower-priced alternative — often just 10% of the cost of natural diamonds — and proving difficult to distinguish without professional laboratory testing, such as that provided by DCLA. This shift in consumer preference is eating into the market for natural stones, further squeezing margins for cutters and polishers.

Declining Trade Figures

According to the Gem and Jewellery Export Promotion Council (GJEPC), India imported $10.8 billion worth of rough diamonds in 2024–25, a 24% drop from the previous year. Exports of cut and polished natural diamonds fell nearly 17% year-on-year.

Industry leaders warn that if the new US tariffs remain in place, as many as 200,000 workers could lose their jobs in Gujarat alone.

Ripple Effects Beyond India

The impact will not be confined to India. US jewellers — around 70,000 businesses — will also feel the pressure as higher prices could dampen consumer demand. This could disrupt supply chains, delay deliveries, and push customers towards alternative products.

Finding a Way Forward

Some in the industry see an opportunity to strengthen domestic demand and diversify exports towards Latin America, the Middle East, and other emerging markets. India’s domestic gems and jewellery market is projected to grow from $85 billion to $130 billion within two years, offering a potential buffer.

For now, though, the threat is real and urgent. Without relief on tariffs, support for natural diamond certification, and a coordinated strategy to protect jobs, the world’s biggest cutting and polishing centre risks losing its global dominance — and with it, a key part of the natural diamond supply chain.

As Patel puts it, “Without help, the business will lose its shine forever.”

South Africa Joins Luanda Accord to Promote Natural Diamonds

South Africa is to sign up to the milestone Luanda Accord, which is funding a global campaign to promote natural diamonds.

It joined the governments of Angola, Botswana, Namibia, Sierra Leone and the Democratic Republic of the Congo, in June in pledging to contribute 1 per cent of the value of their rough sales annually.

But the move was only approved South Africa’s cabinet last week. Minister in the Presidency Khumbudzo Ntshavheni and confirmed the decision on 7 August, committing 1 per cent of the annual revenues generated from rough diamond sales to a global marketing fund led by the Natural Diamond Council (NDC).

South Africa, the world’s sixth biggest diamond producing nation by value, saw sales down by 21 per cent last year amid the global slowdown.

The country’s mining minister mining minister Gwede Mantashe was listed as a signatory to the Luanda Accord in an official communique after the agreement.

But a conflicting Reuters report said South Africa did not actually sign at the time and has only done so now.

The Luanda Accord is seen as a potential turning point for the sector, aiming to rebuild consumer trust and interest in natural diamonds over lab growns, by emphasizing their origin, authenticity, and community impact.

It will highlight the positive economic and social contributions of the natural diamond industry to producing nations and their communities.

Governments of the African diamond producing nations have been joined by the Antwerp World Diamond Centre (AWDC), African Diamond Producers Association, India’s Gem and Jewellery Export Promotion Council (GJEPC) and the Dubai Multi Commodities Centre (DMCC).

Source: IDEX