ALROSA has sold its 6.21-carat cushion cut fancy intense pink purple diamond to Larry West, a New York-based collector of exclusive pink diamonds. The stone originates from Yakutia, where it was discovered and polished by ALROSA. For over 40 years, Larry J. West, the owner of New York’s L.J. West Diamonds, has been searching for an extraordinary natural color diamonds. His collection has been featured in Natural History Museum of Los Angeles County and at auctions worldwide. “As global production declines, pink diamonds will become rarer and thus more valuable
Botswana plans to conclude negotiations with De Beers on a diamond sales agreement by the end of April to replace the current ten-year deal that expires in January. The government wants to see more gems cut and polished within the borders of the world’s second-biggest biggest diamond producer, creating jobs and boosting the state coffers, according to Lefoko Moagi, the minister of mineral resources, green technology and energy security. An agreement is crucial for both parties. Botswana accounts for more than two-thirds of De Beers’ production, while the co
In preparation for its initial public offering in 2022 – which will involve a 30% stake in the company – Angola’s state-owned miner Endiama EP is looking for partners “with financial and technical know-how” to increase the country’s diamond production. This, according to an interview given by José Manuel Ganga Junior, head of the Endiama group that controls diamond mining concessions in Angola, to the Financial Times. In his comments, Ganga Junior said that Angola wants to move up from its spot as the world’s seventh-biggest diamon
Canada’s Lucara Diamond (TSX:LUC) has found an unbroken 549-carat white diamond at its prolific Karowe mine in Botswana, the same asset that last year yielded the 1,758-carat Sewelô (“rare find”), the second-largest diamond ever mined. The new stone, which the company said was “of exceptional purity,” was recovered from direct milling of ore sourced from the EM/PK(S) unit of the South Lobe. Another big find, a 176 carat diamond, was also recovered that block in the past few days. “Lucara is extremely pleased to be starting off 2020 with the recovery
404.20 carat rough diamond that was mined in eastern Angola — the 27th largest rough white diamond ever discovered. Photo by Christie’s. Angola state-owned diamond mining company Endiama EP plans to sell as much as 30% of its shares in an initial public offering in 2022. The sale is part of a government plan to increase transparency in the diamond sector and bolster production, chairman José Manuel Ganga Júnior said in an interview in Cape Town, South Africa. Angola is the world’s seventh biggest diamond producer. “We are preparing Endiama
Africa-focused Gem Diamonds’ (LON:GEMD) said on Tuesday it had recovered a 183-carat, white, Type IIa diamond from its 70%-owned Letšeng mine in Lesotho. Alongside the “exceptional” stone, the company found two other large, high-quality diamonds weighing 89 and 70 carats, respectively. Analysts at investment bank Berenberg said that while the 183-carat diamond showed signs of breakage, it could fetch more than $5 million. Since acquiring Letšeng in 2006, Gem Diamonds has found more than 60 white gem quality diamonds over 100 carats each, which makes
Russia’s Alrosa (MCX:ALRS), the world’s top diamond producer by output in carats, plans to resume operations at its Mir mine, which has been shuttered since 2017, with work on the project set to start in 2024, local authorities have said. The underground diamond mine, which accounted for about 9% of Alrosa’s output before operations were suspended, flooded when water poured into a shaft from an open-pit mine above it, killing eight people. Its former manager, Alexey Burkser, was found dead in a pre-trial detention centre in October, a day after he
De Beers sold the most diamonds since April in a sign the industry is starting to recover from a slump in demand last year, though the market will require more evidence of a sustained rebound. The Anglo American Plc unit sold $545 million of diamonds in its first sale of the year, traditionally one of the strongest buying periods as the industry restocks after the crucial holiday selling period. There was little good news for the diamond industry last year. An oversupply of rough stones, a surfeit of polished gems and falling prices piled pressure on the compa
Petra Diamonds’ first-half revenue fell 6%, dented by lower prices as the diamond industry grappled with soft demand from China and Hong Kong, but the African miner said it would meet or exceed its annual production target. The industry has been facing slowing demand due to anti-government protests in Hong Kong and the bruising trade dispute between China and the United States, while some analysts blame it on laboratory-grown diamonds. There has, however, been an improvement in demand in the second quarter, with rough diamond pricing seeing a modest rise, the
The 17.44-carat diamond found at the Verkhne-Munskoye deposit. (Image courtesy of Alrosa.) Russia’s Alrosa (MCX:ALRS), the world’s top diamond miner by output, has found a 17.4-carat bright yellow gem-quality precious rock at its new Verkhne-Munskoye deposit in Yakutia, which started operations in 2018. The diamond, recovered in mid-February from the Zapolyarnaya kimberlite pipe, is the first large coloured stone found at the site, the company said. Alrosa, which did not disclose the estimated value of the diamond, said it would be assessed and evaluated by