South Africa's New Guidelines to Boost Domestic Polishing

 

South Africa has introduced new guidelines to retain more economic value from its rough diamonds by promoting local cutting and polishing, rather than exporting goods unprocessed.

Around 90% of its rough diamond production is currently sold abroad. The South African Diamond and Precious Metals Regulator (SADPMR) is tackling this by requiring genuine offers of certain rough to local buyers first – at reasonable prices and practical assortments.

Producers are currently required to allocate 10% of run-of-mine (ROM) rough -total unsorted output straight from the mine – to the State Diamond Trader (SDT), a government entity that resells it to local beneficiators (licensed cutters and polishers).​

The remaining 90% (known as non-SDT rough) has, until now, been exported by sellers who have deliberately deterred local buyers with high prices and poor bundles, favoring tenders in Antwerp and Dubai.​

SADPMR now mandates that they make genuine rather than sham offers to sell this non-SDT rough to domestic cutters and polishers.

It must be displayed for at least four days at the Diamond Exchange and Export Centre (DEEC) in Johannesburg before export approval. There is no quota change, just stricter enforcement to boost local uptake.

Souurce: DCLA

Innovation in Diamond Cutting Takes Centre Stage

 

Luxury watchmaker Jacob & Co. has unveiled a remarkable evolution in diamond design, introducing a proprietary “Angel Cut” across its latest high jewellery timepiece marking a noteworthy development in modern diamond faceting.

More than a stylistic variation, the Angel Cut represents a deliberate rethinking of how light interacts within a diamond. Developed in-house over a two-year period, the cut features 37 precisely engineered facets significantly fewer than many traditional brilliant-style cuts. Rather than maximising facet count, the design prioritises facet placement, aiming to enhance light return, internal reflection, and overall visual coherence.

At the core of the Angel Cut is a distinctive lozenge-shaped table, framed within a stepped rectangular outline with cut corners. This geometry alters the path of light through the stone, producing a continuous, fluid luminosity rather than the sharp scintillation typically associated with more fragmented facet arrangements. The result is a diamond that exhibits a broader, more even glow, with an emphasis on depth and dimensional light performance.

This innovation has been showcased in the latest iteration of the Billionaire Double Tourbillon timepiece, the first watch globally to incorporate this new cut. Previous editions in the series predominantly featured established step cuts such as emerald and Asscher, making this release a clear departure toward proprietary diamond engineering.

The watch itself is extensively set, incorporating nearly 300 diamonds with a combined weight approaching 80 carats. Of particular note is the dominance of the Angel Cut stones, which form the visual identity of the piece, complemented by supporting cuts that enhance structural and aesthetic balance.

From a gemmological perspective, the introduction of a patented cut raises important considerations. While traditional cuts have long-established grading frameworks, new proprietary cuts challenge laboratories to assess light performance, symmetry, and finish within evolving parameters. As the official CIBJO laboratory in Australia, Diamond Certification Laboratory of Australia continues to monitor such innovations closely, particularly where they influence market perception, valuation, and grading consistency.

Beyond its diamond setting, the timepiece also demonstrates advanced horological engineering, featuring a dual flying tourbillon mechanism and a highly complex hand-wound movement. However, it is the diamond innovation that remains the defining feature of this release.

The Angel Cut signals a broader trend within the high-end diamond sector: a shift toward proprietary faceting as brands seek differentiation not only through origin and size, but through the very physics of light performance.

For the diamond trade, this development reinforces an important reality innovation in cutting remains one of the most powerful drivers of both beauty and value in modern diamonds.

Source: DCLA

LUCARA RECOVERS EXCEPTIONAL 36.92 CARAT BLUE DIAMOND FROM KAROWE

 

Lucara Diamond Corp. has announced the recovery of a remarkable 36.92 carat blue diamond from its wholly owned Karowe Diamond Mine in Botswana further reinforcing Karowe’s reputation as one of the world’s most prolific sources of rare and high-value diamonds.

The newly recovered stone is described as a high-quality Type IIb blue diamond, a category renowned for its extreme rarity, boron content, and exceptional optical properties. The diamond was recovered using X-ray Transmission (XRT) technology from stockpiled ore, highlighting the continued value embedded within Karowe’s surface material.

In addition to this notable discovery, Lucara reports that five diamonds exceeding 100 carats have been recovered year-to-date from the processing of stockpiles. These results underscore the consistent recovery profile of large, high-quality stones from the Karowe resource.

William Lamb, President and CEO of Lucara, commented that the recovery of this exceptional blue diamond further demonstrates the unique nature of the Karowe asset. He emphasised that such finds validate the strategic importance of stockpile processing as a meaningful contributor to ongoing production.

Since commencing operations in 2012, Karowe has established itself as a leading producer of large, high-value Type IIa diamonds. The mine remains the cornerstone of Lucara’s operations and future growth strategy.

Looking ahead, Karowe is undergoing a significant transition from open-pit to underground mining through the development of the Karowe Underground Project (UGP). This expansion is designed to unlock access to the highest-value portions of the orebody. Underground development ore is expected to begin supplementing stockpile feed by 2027, with full-scale underground production targeted for the first half of 2028.

This latest recovery not only highlights the enduring value of Karowe’s resource but also reinforces Botswana’s standing as a premier origin for some of the world’s most extraordinary diamonds.

Source: DCLA

26.36 Carat White Diamond Expected to Exceed $1 Million at London Jewellery Auction

 

A rare 26.36 carat round brilliant-cut white diamond is set to headline a major jewellery auction in London, where it is expected to sell for more than $1 million, highlighting continued global demand for exceptional natural diamonds.

The impressive stone will appear in the upcoming Fine Jewellery sale at Elmwood’s, carrying a pre-sale estimate of £800,000 to £1,000,000 (approximately $1.07 million to $1.34 million). The diamond features VVS1 clarity and I colour, placing it firmly within the category of high-quality investment-grade stones sought by collectors and connoisseurs.

To emphasise the diamond’s exceptional brilliance, the stone is set in a simple platinum solitaire ring, allowing the size and quality of the diamond to remain the central focus.

Of particular importance to collectors is the stone’s “Triple Excellent” grading—the highest possible standard for cut, polish and symmetry. The diamond also shows no fluorescence, a characteristic that helps preserve the stone’s natural brilliance and fire under a wide range of lighting conditions.

According to Joe Kendrick, Head of Sale at Elmwood’s, diamonds of this calibre rarely appear on the U.K. market.

“Stones combining this level of size, VVS1 clarity and triple excellent cut are extraordinarily rare in the United Kingdom,” Kendrick noted. “A diamond of this magnitude may only appear once in a decade. This solitaire is a remarkable example of why large white diamonds remain among the most prized gemstones in the world.”

The last comparable stone offered at auction in the U.K. was a 26.27 carat white diamond sold by Sotheby’s in 2017 for £656,750. Known as the “Tenner Diamond,” the stone gained international attention after it emerged that the owner had originally purchased it for just £10 at a car boot sale.

The upcoming auction marks an important moment for Elmwood’s, a relatively young auction house founded in 2017 and based in Notting Hill, London. The firm has positioned itself as a challenger in the international jewellery auction market by introducing a 0% seller’s commission, a strategy designed to attract high-value consignments that might otherwise be directed to the larger auction centres of Geneva or New York.

Large natural diamonds of 25 carats and above rarely appear at auction outside these major global hubs, making this London offering particularly noteworthy for collectors and the broader international diamond market.

For the global trade and collectors alike, the sale reinforces the enduring appeal of large natural diamonds with exceptional cut quality, a segment where rarity and provenance continue to drive value in the high-end gemstone market.

Source: DCLA

Mountain Province Sales Slump in "Very Difficult" Conditions

 

Mountain Province Diamonds has reported a 42% drop in sales for FY2025, as “very difficult” market conditions persist.

The Toronto-based miner said revenue for the full year was down from USD 195.2m to USD 111.5m, although there was an improvement in Q4, with the drop in sales down by a relatively modest 11% to USD 33m.

In a quarterly update published on 9 March it blamed continued pressure on rough diamond pricing due to uncertainty surrounding U.S. tariffs, geopolitical factors, and the ongoing threat from lab grown diamonds.

The average price per carat fell 18% from USD 72 to USD 59 in FY2025, and 24% for Q4 2025. The company blamed challenging market conditions and the mix of goods sold for the Q4 average price, reflecting the sale of a finer set of goods held back from previous quarters.

Production guidance for 2026 is 6.6m to 7.2m carats, compared to 4.33m carats recovered in FY2025.

Mountain Province operates the Gahcho Kue mine, in Canada’s Northwest Territories in a joint venture with De Beers.

Last month it said it was pausing plans for the Tuzo Phase 3 project, which would extend the life of the mine, but require substantial capital expenditure.

“While the Tuzo Phase 3 project has demonstrated strong potential, current market conditions have prompted the partners to take a measured approach to its development,” the company said.

Source: DCLA

Iran War Halts Shipments Between India and Dubai

The war in Iran has halted diamond shipments between India and Dubai.

Iran has launched well over 1,000 drones and ballistic missiles at the UAE since 28 February in retaliation for US and Israeli strikes.

The UAE supplies over two-thirds of India’s rough diamond imports and India supplies over 90% of UAE’s polished imports.

Almost all flights between the two countries have been cancelled, except for a limited number of repatriation services for passengers.

None of the diamond export parcels – usually 400 to 500 a day – are getting through.

“Exports and imports from the Middle East â€‹have come to a standstill, and there are no logistics â in place to move goods,” Vipul Shah, managing director of diamond exporter Asian Star told Reuters.

Koin and TAGS have both delayed rough tenders that were due to take place last week and have yet to announce new dates.

The conflict has also disrupted operations at the Dubai Multi Commodities Centre (DMCC), home to the Dubai Diamond Exchange. DMCC declined to comment.

Source: DCLA

Rare French Gold and Exceptional Diamonds Headline Major Auction Sales

 

Two significant jewellery auctions this March are drawing global attention, highlighting the enduring appeal of rare craftsmanship and investment-grade diamonds.

At Freeman’s Auction House in Chicago, collectors will see a remarkable balance between exceptional diamonds and a deep exploration of mid-century French gold craftsmanship. The auction, taking place on March 18, features property from a prominent local family and focuses heavily on post-war French jewellery design.

According to April Matteini, Senior Vice President and Head of Jewellery at Freeman’s, the sale represents an important moment for collectors. She noted that the auction showcases highly sought-after pieces from the celebrated workshop of Georges L’Enfant, whose creations defined much of the sophisticated gold jewellery produced in France during the mid-20th century.

The L’Enfant atelier was renowned for producing technically refined and sculptural gold pieces for some of the world’s most prestigious maisons, including Cartier and Van Cleef & Arpels. Their designs are admired for their tactile textures and architectural form. One of the standout lots in the auction is a striking textured gold curb-link necklace that perfectly illustrates the distinctive craftsmanship of the L’Enfant workshop.

Meanwhile, Christie’s is preparing for its own high-profile jewellery sale. A remarkable ring from Tiffany & Co., featuring a 10.02-carat emerald-cut diamond, is expected to achieve up to US$700,000.

The diamond is graded D colour, internally flawless, and belongs to the rare Type IIa category diamonds that are chemically pure and among the most sought after in the world.

The Tiffany ring will headline Christie’s Jewels Online auction running from March 9 to March 19, which will feature 156 lots. The sale includes jewellery from renowned houses such as Cartier, David Webb, and Van Cleef & Arpels, as well as pieces from notable private collections including the collection of Elizabeth Taylor and property from the collection of Yvonne Kalman.

These auctions highlight the continued global demand for rare diamonds and historically important jewellery pieces, reinforcing the strong position of exceptional natural diamonds within the international luxury and collector markets.

Source: DCLA