US To Lift Travel Ban For Vaccinated EU Citizens Early November

US Ambassador to the European Union Stavros Lambrindis today announced on Twitter that the US will lift the travel ban to the US and will allow vaccinated and pre-flight tested EU citizens to travel to the country in early November. Travelers will have to demonstrate they are fully vaccinated as well as provide a recent (3 days) Covid-19 test with proof of negative results. Once arrived, contract tracing and wearing a face mask will be required but travelers will not need to quarantine. 

World News

Zero Emission and CO2 Absorbing Rocks: Miners Up The Sustainability Game

This week, Russian diamond mining giant Alrosa announced that the first initial tests by local scientists and company experts on how kimberlite waste ore – what’s left of the super hard rock in which rough diamonds are found once the diamonds are recovered – can be used to absorb carbon dioxide, showed promising results, potentially even compensating the 997k tonnes of CO2 emissions generated by the entire company in a full year. The company aims to further reduce its footprint by shifting from fuel-powered to renewable energy throughout its operations.

Mining and ExplorationSustainability

US Holiday Jewelry Sales Expected to Skyrocket

According to Mastercard SpendingPulse, US jewelers can expect a very good holiday shopping season as they predict revenue from jewelry sales in the US between November 1 and December 24 will grow 59% compared to the same period last year. When they take the “75 days of Christmas” into account – from October 11 to December 24 – jewelry sales will climb 60% in comparison to 2020, they anticipate.

Jewelry

Stellar Performances for Lucapa and Petra

Lucapa Diamond and Petra Diamonds both released performance updates with record revenues. For Lucapa, revenue from Mothae (Lesotho, sold via Antwerp) and Lulo (Angola) was up nearly 300% to US$27m total in H1. Petra Diamonds 2021FY revenue, marketing its goods via Antwerp, was up 65% to US$402m, with the highest contribution from exceptional diamond sales in the history of the company.

Mining and ExplorationRough Market

NDC launches new ad featuring Ana de Armas

The Natural Diamond Council (NDC) released a new ad featuring actress Ana de Armas for the second time. The ad is the latest instalment in the “For Moments Like No Other” campaign.

Marketing

Namdia Continues to Sell Rough Cheaply to Dubai Critics Say

According to the Namibian, allegations of irregularities at the state-owned Namdia and rough being sold below value to a select club in Dubai continue. The newspaper claims Govt officials at the ministry of mines haven been informed of the continued underpriced selling of rough diamonds to select companies, the article cites Dubai –based SBMH Group DMCC and Neil Haddock as main beneficiaries of the system.

Rough Market

China Overtakes Hong Kong’s Position as Watch Industry’s N°1 Export Market

Jing Daily reports that Mainland China has taken over Hong Kong’s position as the largest export market for the Swiss watch industry. Hard luxury sales more than halved in the past 5 years, to US$2.5bn, from US$ 5.7bn. After a turbulent few years with typhoons, enduring political unrest and the pandemic restrictions imposed on travel, Chinese shoppers are moving away from shopping in Hong Kong and luxury brands have responded to that trend quickly by expanding their online and offline presence to mainland China, especially to the tax-free hub in Hainan.

JewelryRetail and Consumer Confidence

Meya Mining (SL) Partners with Antwerp-based Samir Gems & Taché Company

Meya Mining (Meya), owner of a large, 129 square km kimberlite-rich concession in the eastern region of Sierra Leone, has announced a financial and commercial partnership deal with Antwerp-based Samir Gems and Taché Company. In 2017, just 7 days after commissioning its plant, the miner recovered a 476 carat diamond called the Meya Prosperity.

Mining and ExplorationRough MarketManufacturing

I.Hennig To Tender Large Volume of Polished in Antwerp

Hennig Tenders has announced it will present for sale an exceptionally large selection of polished diamonds in all sizes, shapes, colours and qualities. Viewings will take place at the Hennig Tenders Antwerp office between Thursday 23rd September and Monday 4th October 2021 by appointment.

To book an appointment, contact Hennig Tenders at info@ihennig-tenders.com or call 03 500 8050.

Polished

HB Antwerp Innovation Lab Kicks Off in Botswana

HB Antwerp has kicked off its Innovation Lab in Botswana, welcoming 30 graduates in the field of Engineering and Technology, with a special focus on creating diversity and gender parity in the diamond industry, engaging young women through a collaboration with pan-African incubator WomHub. HB Antwerp’s Botswana program intends to allow the participants to develop industry-specific knowledge but also helping them finetune their talents such as leadership and intrapreneurial skills.

Mining and ExplorationSustainability

Strategic Changes Signet Jewelers Pay Off

US retailer Signet Jewelers reported its May, June & July sales more than doubled to $1.79 billion compared to the same period last year, says Rapaport. The company outperformed expectations in this second fiscal quarter, concluding their strategic changes more than paid off. 

Jewelry

Diamond Prices Remain Stable In August

According to Rapaport, diamond prices were steady in August, which is traditionally a slower period for the diamond trade. Activity picking up at the Vegas shows, where jewelers signaled they need goods, reflected driving demand at the US market. Even though fewer exhibitors and visitors were able to make it to the JCK shows, due to COVID-19, those present did some good business.

Market Analysis

Belgium Eases Travel Restrictions for Foreigners

As of September 1st, the Belgian government has eased travel restrictions for travelers who want to travel to Belgium, the ban on non-essential travel to Belgium no longer applies to travellers who, prior to arrival on the territory, hold a “vaccination certificate” including those issued in a country not belonging to the European Union and containing at least the following information in Dutch, French, German or English will  be accepted:a vaccination certificate issued in a country not belonging to the European Union and containing at least the following information in Dutch, French, Germ

World News

Angola President Lourenço Inaugurates Saurimo Diamond Development Hub

In the presence of the representatives of several diamond producing, trading and manufacturing hubs, including Belgian Ambassador Jozef Smets, Angolan President Lourenço last week officially opened the Saurimo Diamond Development hub, aimed at reinforcing development and employment in Angola’s diamond-rich Lunda Sul province. The large Diamond Hub site already hosts three diamond manufacturing plants and will be completed with other diamond related services and training centers, as well as banks, restaurants, shops, convention centers and residential areas.

PoliticsMining and ExplorationRough MarketManufacturing

De Beers & National Geographic Partner in Okavango Eternal Project

De Beers has joined National Geographic to help with one of the biggest conservation challenges in Africa: preserving the source waters of the Okavango Delta and the lives they support. Surrounded by the dry sands of the Kalahari Desert, seasonal rains from Angola’s highlands supply the Okavango Delta each year, making them vital for its survival.

SustainabilityWorld News

Self-Purchase and Quality Key for Jewelry Purchase

According to a survey, conducted by the Plumb Club, self-purchase is the most important jewelry purchase motivation amongst college-educated Americans between 25-60, reported InStoreMag. The survey provided vital information on the preferences and motivations of today’s jewelry buyers.

A few of the most important findings:

Jewelry

Botswana Diamonds and Vast Resources JV Plans to Revive Ghaghoo Mine

Botswana Diamonds PLC and Vast Resources PLC have announced a joint venture (Okwa Diamonds) has acquired – pending regulatory approval – Gem Diamonds’ mothballed Gaghoo diamond mine, a 10.8ha mining area in central Botswana, fo US$4m. James Campbell, MD at Botswana Diamonds commented: “Working with our joint venture partner VAST, we have completed thorough due diligence on Ghaghoo.

Mining and Exploration

Alrosa to Tender Specials and Fancy Colors in Antwerp Aug 25-Sept 23

Russian miner Alrosa will be tendering a total of 10,836ct of goods, including fancy colors from August 25 to Sept 3 and auction from Sept 3 to Sept 23, including specials for a total of 2,140ct in Antwerp.

Rough Market

Celeb Power Couple Jay-Z & Beyoncé Stars in Tiffany's "About Love"

Tiffany & C° yesterday announced their new campaign, to be launched in print Sept 2 and campaign video and musical score on Sept 15, starring celebrity powercouple Beyoncé and Jay-Z - "The Carters", with the two as an iconic example of modern love.

Jewelry

De Beers' Lightbox Will Offer Larger, Better LGD

As of October, De Beers' LGD brand Lightbox will be expanding its LGD offering with bigger varieties of its 800$/ct lab-grown diamonds and higher quality LGD for 1500$/ct, with a maximum size of 2ct. Up until now, Lightbox stuck to a linear 800$/ct, less quality colors and clarity - G-J, VS, very good cut, but in its "Finest" collection will now also offer D-F, VVS, excellent cut diamonds of 1ct for nearly double the price, 1500$/ct, setting another standardized price benchmark for higher quality LGD stones.

Market Analysis

Antwerp’s July Trade Outperforms Prepandemic 2019

According to figures released by the Antwerp World Diamond Centre, for the second consecutive month, the rough business in Antwerp is outperforming prepandemic levels of 2019, as July’s rough imports, amounting to 8,1m cts, were up 174% in value and 141% in volume (ct) compared to July 2019. Rough exports also continue to soar, growing 153% to US$ 1.1bn and +120% compared to the same month in 2019 in volume to 10,3m cts.

Market Analysis

Angola's Operation Transparency Targets Illegal Buyers

According to Rough & Polished, quoting state news agency Angop, local authorities (SIC) have seized cash, equipment and nearly 2500 diamonds from "illegal buyers" in the country's Lunda Norte province, part of the ongoing clean-up of Angola's informal diamond mining industry "Operation Transparency". The targeted action, initiated in 2018, focuses on the towns of Xa-muteba, Cambulo, Lucapa and Cuango where an estimated 700 illegal mining sites operate.

ComplianceLegal

GIA Cert Fraud Uncovered in Surat

Local police in Surat have arrested a man who used existing GIA certificates to sell diamonds of inferior quality than the original diamonds. The authorities seized a large sum of money, 24 GIA certificates, a number of diamonds and a laser inscribing machine, used to inscribe the GIA certificate numbers on the diamonds.

LegalCompliance

Idex' ABN AMRO Diamond Exit Fake News

Idex News today posted an article industry insiders say is "fake news", about Dutch bank ABN AMRO leaving the diamond business. Sources at the bank told The Diamond Loupe that the alleged exit news, published by Idex is false and the bank is not closing its diamond financing. A transcript of ABN AMRO's conference call yesterday doesn't even mention the word diamond.

Finance and Trade

Going Out with a (Pink, Red & Blue) Bang: Rio Tinto Dazzles in Antwerp with its final Argyle Tender

Rio Tinto’s final Argyle Pink Diamonds Tender collection of rare pink, red, blue and violet diamonds is being showcased to connoiseurs, collectors and luxury jewellers in Antwerp, Belgium.

MarketingPolished

A New Chapter For Diamond Mining in Australia?

While to outsiders it may have seemed the closure of Rio Tinto’s Argyle mine marked the end of diamond mining in Australia, recent developments show signs of an unexpected revival. Earlier this year, Australian-based miner Lucapa, currently operating mines in Angola and Lesotho, acquired the Merlin mine, which hasn’t produced any diamonds since 2003. Lucapa hopes to restart the mine within two years.

Mining and ExplorationRough Market

Rio Tinto Diamond Returns to Profit H1 2021

According to Rapaport, Rio Tinto Diamonds, operating the Argyle mine in Australia, the mine that was closed in November last year, and the Diavik mine in Canada, made US$5m profit in the first 6 months of the year. The company recovered 3.1m ct from Diavik - up 2% - and sales, operated by the Antwerp division of Rio Tinto Diamonds, were up 13% to US$160m.

Mining and ExplorationRough Market

Strong US Demand Boosts De Beers H1 2021 Performance to 2019 Levels

In its financial results update, released by De Beers, the company states revenue compared y-o-y more than doubled to US$2.9bn, from US$1.2bn at the height of the pandemic year 2020, EBITDA rose from a meager US$2m to US$610m, for a total of 19.2m cts (up from 8.5m cts in H1 2020.) . According to comments to JCK, the company attributes the positive results to remarkably strong recovery in the USA, outperforming China's rebound. De Beers average price per carat rose 13%, from US$119/ct (2020) to US$135/ct.

Rough Market

Grib Sells 7ct Violet Stone for +100kUS$/ct in Antwerp

On Thursday 29th July in Antwerp, Grib Diamonds sold $65M of rough diamonds mainly from its wholly owned Russian Mine, as well as some smaller amounts of Angolan Goods. In total 650K carats were on offer and Grib saw continued high demand in its Spot Sale. The highlight of the sale was one Russian Origin 7ct Violet stone which sold for more than $100K per carat. This is the highest per carat stone ever sold by Grib in its 7 year history. Grib’s next Spot Viewings will start from the 10th September in Antwerp.

Rough Market

Discovery of Exceptional 342.92ct White Underscores Petra's Strong Performance

Petra Diamonds Limited today announced that it has recovered a 342.92 carat Type IIa white diamond of exceptional quality in terms of both its colour and clarity at the Cullinan mine in South Africa. The diamond is likely to be sold via the Company’s upcoming tender during September 2021. The news comes just days after Petra Diamonds released its latest market update, indicating revenue for FY 2021 jumped 38% to US$406.9m, driven by the sales of exceptional stones such as the 39.34ct rare blue diamond that fetched over US$40m just weeks ago.

Rough Market

Alrosa Continues to Support Clients Demand

Alrosa today announced that it remains committed to maintaining a healthy balance in the market, as the industry encounters rough supply shortages and demand continues to thrive. The company purchases 70% of the diamonds that were auctioned by the Russian State Fund for Precious Metals and Stones (Gokhran), organized to contribute to market balance. Alrosa gave a welcome opportunity to its Alrosa Alliance customers to purchase the Gokhran diamonds they needed, alleviating the pressure caused by shortages in their manufacturing cycles.

Rough MarketMarket Analysis

The Guardian: Why LGD Might Not Be Ethical Alternative

In an extensive article, The Guardian weighs the arguments of many LGD producers who claim the diamonds they produce in a factory are a more ethical alternative, pointing to the devastating effect a complete shift away from mined diamonds would have on entire communities whose livelihoods depend on the diamond industry. Quoting Cristina Villegas from NGO Pact, "framing it as an ethical decision, while in my opinion it is actually the complete opposite", the article states that walking away from mined diamonds will hurt exactly the same communities consumers are concerned about.

In-depth

Outstanding Performance of Richemont's Jewellery and Watches

Swiss luxury group Richemont, owner of the Buccellati, Cartier, and Van Cleef & Arpels jewelry brands, recorded a 129% increase in sales in the three months ending on June 30. The outstanding performance was led by the Jewellery Maisons and Specialist Watchmakers, with a growth of 142%, to €2.52 billion (US$2.97 billion) and 143%, to €849 million (US$1 billion), respectively.

Finance and Trade

China’s Diamond Imports On The Rebound

Diamond imports in China have registered a hefty bounce in the first half of the year, after the gloomy market situation in the first half of 2020, followed by the recovery period in the second half. The sudden increase in trading indicates China’s diamond market is walking out of the haze of the pandemic and returning to a growth track. According to the Shanghai Diamond Exchange (SDE), From January thru June, the diamond transactions in SDE reached US$3.821 billion, an 86.39% increase over the same period in 2019.

Market Analysis

Antwerp Rough Market Thrives with Double Digit Growth in H1, Outperforms 2019

Figures released by the Antwerp World Diamond Centre (AWDC) on the trade in Antwerp in the first six months of the year demonstrate the city is back on track of the pre-pandemic upturn seen in the first few months of 2020, outperforming 2019 figures on rough trade with double digit growth.

In-depthMarket AnalysisFinance and Trade

Mining Operations Resume in ALROSA's Zarnitsa Mine

Operations have resumed at Alrosa's Zarnitsa open-pit mine, which the Russian miner had suspended since May 2020 amid the challenging market environment caused by the COVID-19 pandemic. In March 2021, when the demand for rough diamonds had stabilized, ALROSA decided to recommence mining at the deposit from 1 July.

Mining and Exploration

Lucara 63 Carat Fancy Pink Diamond Recovered in Botswana

Lucara announced the recovery of a 62.7-carat fancy pink diamond from the Karowe Diamond Mine located in Botswana. The diamond entitled “Boitumelo” meaning Joy, is a high-quality, fancy pink, Type IIa gem. In addition, a 2.21-carat fancy pink diamond of similar quality was recovered during the same production period, along with two pink gems of similar color and purity weighing 11.17 and 5.05 carats respectively. The 62.7-carat diamond represents the largest fancy pink gem recovered in Botswana and one of the largest rough pink diamonds on record.

Rough Market

RJC Releases ‘Create Beautiful’ Video and Progress Report

On the occasion of the launch of their latest Progress Report, Responsible Jewellery Council (RJC) released its ‘Create Beautiful’ video, to showcase and encourage sustainability action throughout the supply chain. The video features CEOs from some of the leading names in the jewellery and watch industry, as well as special interest groups.

Sustainability

Petra's 39.34ct Exceptional Blue Sells for +US$40m

Petra's has announced the sale of the exceptional TypeIIb blue 39.34ct, which was recovered at the Cullinan mine in South Africa earlier this year, and started its viewing tour in Antwerp to a partnership between De Beers and Diacore, for a whopping US$40.180.180 or over US$1m per carat.

Rough Market

Crypto Breakthrough: 101 Carat Flawless Diamond Sold at Sotheby's

In Sotheby's single-lot live auction in Hong Kong, the pear-shaped, 101.38-carat, D-color diamond known as "The Key 10138" sold for US$12.3 million. The sale marks an industry-wide breakthrough, making the price achieved for this diamond the highest for any jewelry or gemstone purchased with cryptocurrency. The buyer was a private collector.

Technology

Record Volumes Processed at Lucapa’s Lulo & Mothae

Lucapa diamond company announced a strong first half of 2021 in its Q2 results. Both Lulo (Angola) and Mothae (Lesotho) processed record Q2 volumes and record half-year revenues. 

Lulo continued exceptional large stone recoveries, including three +100 carat founds, and its single largest sale ever of A$28.3 million, representing an average price of US$34,548/carat, led to record revenues for the first half-year of 2021. Mothae also noted exceptional large stone recoveries and regular sales also led to record revenues for the first half of 2021.

Rough Market

ALROSA’s Large Diamond Auctions Yields $32 Million

In May and June, ALROSA held auctions in Antwerp, Dubai and Ramat Gan, selling over 400 lots weighing almost 6,600 carats. The total revenue equaled US$32.4 million.

Under Russian law, ALROSA sells special-size diamonds at international auctions only. These auctions allowed clients to purchase goods they need despite international travel restrictions.

Rough Market

ALROSA Introduces Diamond Tracing Technology

ALROSA introduced its revolutionary diamond-tracing technology using non-invasive laser markings. Unlike traditional laser engraving, these inscriptions could not be destroyed or polished off. The markings are made inside the crystal lattice, across the atomic structure of the entire diamond, making it invisible without a scanner. These diamonds can, and have, been certified by the GIA. The purpose of these markings would be to distinguish ALROSA diamonds from others, including lab-grown.

Technology

Third Time's a Charm for Firestone Botswana Operation

Firestone Diamonds announced it had entered a binding share sales agreement for its Botswana operations. Botswana-owned Visionary Victor Resources will acquire the BK11 mine, as well as Firestone’s 90% interest in its local subsidiary, Monak Ventures, for US$50,000.

Firestone Diamonds has been trying to offload their Botswana asset for nearly six years, as the project has been on care and maintenance since 2012. At that time, the mine plan estimated it still had 1.2 million carats in reserves.

Mining and Exploration

Cartier Strikes Gold in China

Cartier recently shared China was the first market to offer the French luxury goods brand a robust rebound in sales since the pandemic broke out. The brand shared that e-commerce sales in China also saw a phenomenal rise since the outbreak, prompting the company to solidify its plans to raise investments in the country. The rebound and growth are attributed to the solid performance of pandemic-related travel restrictions, causing Chinese consumers to purchase luxury goods locally rather than abroad.

Market Analysis

Former De Beers Exec Joins Laser Inscription Company

Opsydia, a UK-based diamond security innovator, announced former De Beers Group Senior Executive, Jonathan Kendall, would join their non-executive Board of Directors, starting immediately. The company, known for its sub-surface laser technology, can create nano-scale identifiers requiring a 100x microscope to be legible.

Technology

Belgium's Leather Goods Label Delvaux Acquired by Richemont Group

Swiss luxury group Richemont announced it had acquired Belgian leather goods label, Delvaux. The group didn’t disclose the terms of the transaction but shared the deal would have “no material financial impact” on the net of the firm’s assets or operating results. According to a Citigroup analyst, the estimated cost of the deal could be as much as 250 million euros ($296 million), adding the move was “consistent with Richemont’s desire to grow in the leather accessories segment.”

Retail and Consumer Confidence

ALROSA Launches Next Phase of Digital Transformation

ALROSA has launched the new phase of its digital and operational transformation intended to improve the efficiency of its production assets. The project sets out to combine the management teams of the Mirny and Nyurba Divisions. This move would enable the Company to manage its assets more efficiently and free up part of the management team by combining the engineering and supporting functions. The core production personnel will remain unaffected.

Rough Market

Gemological Institutes Warn for Laboratory-Grown Diamond Fraud

The International Gemological Institute (IGI) recently analyzed and graded a 6.18 carat round brilliant-cut stone submitted for grading as a natural diamond, then identified as a lab-grown diamond. The stone was sent for verification purposes and came with a report from the Gemological Institute of America (GIA) stating it was a natural diamond, D color, flawless clarity, and triple-excellent cut, reinforcing the growing importance of secondary review from gemological institutes.

Grading

WDC President Asscher: Those Unwilling to (KP) Change Will Become Obsolete

In his final address at last week's Kimberly Process, virtual intersessional, organized under the Chairmanship of the Russian Federation, World Diamond Council President Edward Asscher, representing the diamond industry in the tripartite organization established to eradicate conflict diamonds from the trade, left little room for interpretation on the consequences of a status quo withing the KPCS.

Finance and TradeCompliance

Yellow is the New Robin Egg Blue

On April first, Tiffany & Co. had us all fooled by introducing their new house color #TiffanyYellow, which garnered nearly half a million likes on Instagram. But was it a prank? Or was it all part of LVMH's rebranding strategy? A mere month later, Tiffany opened a pop-up store in Beverly Hills with everything — from furniture down to the shopping bags — glazed in a lemon yellow.

Jewelry

7 Exceptional Lulo Diamonds Yield $21,4 million

Lucapa, Endiama and Sodiam announced the sale of seven exceptional stones, weighing 620 carats, for a total sales price of $21,4 million, representing an average price of $34,548/carat. The large, top-quality and fancy colored diamonds, recovered at Lulo this year, were sold via tender organized by Sodiam in Luanda.

Rough Market

BASELWORLD's Rise From The Grave

BASELWORLD, which was pronounced dead last year after a mass exodus of exhibitors following the mishandling of the postponement and refunding of deposits for exhibitors, is back!

Finance and Trade

How Big Is A Big Diamond?

In Depth: The Sun is Shining Bright for Arctic Canadian

After a turbulent period, the sun finally shines on Arctic Canadian - quite literally - as the company’s reboot included the successful sale of the stunning 204-carat yellow "Dancing Sun" through a Christie’s auction earlier this month.

In-depth

Grib’s Robust Sales Continue in Antwerp

On Monday 21 June, Grib Diamonds sold over $40 million rough diamonds of Russian origin through its online, ascending clock auction software in Antwerp.

According to Grib Diamonds, all lots of 520k carats were sold and prices hit record levels in every category. Especially the smaller goods marked strong price increases.

Grib’s next sale of Russian and Angolan goods is scheduled to start on 12 July.

Rough Market

21,86ct Pink Palesa To Be Sold in Antwerp

Namakwa Diamonds & Storm Mountain Diamonds announce the discovery and upcoming sale of ‘The Pink Palesa’.

The 21,86 ct natural pink diamond will be sold in Antwerp by Bonas Group. The stone was discovered on the 18th of May at the KAO mine in Lesotho. The Palesa, derived from the local Sesotho word for ‘flower’, will travel to Antwerp to be offered for sale during KAO’s next sale.  

Rough Market

‘Diamond Rush’ in South African Village

In Kwahlathi, a village in South Africa's KwaZulu-Natal province, over 1,000 people are looking for diamonds after a man dug up an unidentified stone in an open field. According to Reuters, people are traveling across South Africa to join the villagers who have been digging since Saturday.

Economy

World's Third-Largest Diamond Discovered by Debswana

Debswana, the joint venture between the Botswana government and Anglo American’s De Beers unit, announced the recovery of a 1,098-carat diamond. Initial analysis suggests the rough stone could be the world’s third-largest gem-quality diamond ever to be recovered after the 3,100-carat "Cullinan Diamond", was discovered in South Africa in 1905, and the 1,109-carat "Lesedi la Rona", was found in 2015, in the Karowe mine in Botswana.

Mining and Exploration

Exceptional Blue Diamond to Yield a Million per Carat

Earlier this year Petra Diamonds announced the recovery of a 39.34 carat Type IIb blue diamond from the Cullinan mine in South Africa. The diamond, known for its exceptional quality in terms of both its color and clarity, is currently in Antwerp for viewing, is expected to yield upwards of US$1 million per carat. Next week it will continue on its world tour till early July. Bidding will close on Monday, July 12.

Rough Market