30 Carat Fancy Pink Set for Antwerp Sale

Lesotho focused miner Namakwa Diamonds will sell a 29.59 carat, fancy pink rough stone in Antwerp this fall.

The company discovered the diamond at its KAO mine in the African country on June 12, according to brokerage firm Bonas Couzyn, which will facilitate the sale.

The stone named the Rose of KAO will appear in Antwerp for viewings from September 17 to 28, and bidding in an online tender will close October 1. The auction is part of the fourth sale of KAO goods this year.

Namakwa owns and operates the KAO mine through its subsidiary, Storm Mountain Diamonds. The asset has a record of producing fancy color diamonds.

The miner recovered the 36.06 carat Pink Storm in December 2013, and sold it the following month.

Source: DCLA

30 Carat Fancy Pink Set for Antwerp Sale

Lesotho focused miner Namakwa Diamonds will sell a 29.59 carat, fancy pink rough stone in Antwerp this fall.

The company discovered the diamond at its KAO mine in the African country on June 12, according to brokerage firm Bonas Couzyn, which will facilitate the sale.

The stone named the Rose of KAO will appear in Antwerp for viewings from September 17 to 28, and bidding in an online tender will close October 1. The auction is part of the fourth sale of KAO goods this year.

Namakwa owns and operates the KAO mine through its subsidiary, Storm Mountain Diamonds. The asset has a record of producing fancy color diamonds.

The miner recovered the 36.06 carat Pink Storm in December 2013, and sold it the following month.

Source: DCLA

Yellow diamond yielding mine back on the market

The Liquidated Ellendale mine in Western Australia, known for its fancy yellow diamonds is back on the market.

The Ellendale mine claimed to have yielded around half of the world’s supply of rare yellow diamonds during peak production.

Ellendale mine is located 120km east of Derby was also the main supplier of fancy yellow diamonds for luxury jewelry retailer Tiffany & Co.

Source: DCLA

Yellow diamond yielding mine back on the market

The Liquidated Ellendale mine in Western Australia, known for its fancy yellow diamonds is back on the market.

The Ellendale mine claimed to have yielded around half of the world’s supply of rare yellow diamonds during peak production.

Ellendale mine is located 120km east of Derby was also the main supplier of fancy yellow diamonds for luxury jewelry retailer Tiffany & Co.

Source: DCLA

Vast Resources Explores Potential Marange Mine

Mining company Vast Resources gained access to a section of Zimbabwe’s Marange fields with a view to developing joint operations there with a local community group.

The miner reached an agreement with Red Mercury, a subsidiary of the Marange-Zimunya Community Share Ownership Trust, to carry out due diligence over a two-month period at the Heritage Concession – a 15-square-kilometer area in the Marange fields.

If the concession proves viable, the companies will form a joint venture for exploration, mining and marketing diamonds from the site.

 Such a partnership would see Red Mercury provide the government-issued mining license, and Vast responsible for procuring funding to develop a mine.

The deal would fall in line with Zimbabwe’s indigenization laws, which require 51% ownership by a designated entity or community-share ownership trust. That law is currently under review, and could change in the next few months, Vast Resources noted.

“Having already agreed on the principal terms of the future joint venture with the MZ Community Trust, we have confidence that once the due-diligence period is complete, subject to final results, we can move swiftly in building a valuable diamond arm of our business, which is mutually beneficial for all stakeholders,” added Andrew Prelea, CEO of Vast.

Earlier this year, Vast signed a memorandum of understanding with Botswana Diamonds to develop Zimbabwe’s diamond resources and share information from past exploration of the region.

“I am delighted Vast has been awarded this exclusive access to part of the famous Marange diamond fields, and we look forward [to] working with them to realize the full potential of this area and others as they begin to emerge with Zimbabwe opening for business,” said Botswana Diamonds chairman John Teeling.

Source: DCLA

Vast Resources Explores Potential Marange Mine

Mining company Vast Resources gained access to a section of Zimbabwe’s Marange fields with a view to developing joint operations there with a local community group.

The miner reached an agreement with Red Mercury, a subsidiary of the Marange-Zimunya Community Share Ownership Trust, to carry out due diligence over a two-month period at the Heritage Concession – a 15-square-kilometer area in the Marange fields.

If the concession proves viable, the companies will form a joint venture for exploration, mining and marketing diamonds from the site.

 Such a partnership would see Red Mercury provide the government-issued mining license, and Vast responsible for procuring funding to develop a mine.

The deal would fall in line with Zimbabwe’s indigenization laws, which require 51% ownership by a designated entity or community-share ownership trust. That law is currently under review, and could change in the next few months, Vast Resources noted.

“Having already agreed on the principal terms of the future joint venture with the MZ Community Trust, we have confidence that once the due-diligence period is complete, subject to final results, we can move swiftly in building a valuable diamond arm of our business, which is mutually beneficial for all stakeholders,” added Andrew Prelea, CEO of Vast.

Earlier this year, Vast signed a memorandum of understanding with Botswana Diamonds to develop Zimbabwe’s diamond resources and share information from past exploration of the region.

“I am delighted Vast has been awarded this exclusive access to part of the famous Marange diamond fields, and we look forward [to] working with them to realize the full potential of this area and others as they begin to emerge with Zimbabwe opening for business,” said Botswana Diamonds chairman John Teeling.

Source: DCLA

Rio opens new diamond pipe in subarctic Canada

Rio Tinto opened today a fourth diamond pipe at the subarctic Diavik Diamond Mine, located in the Northwest Territories of Canada, 220 kilometres south of the Arctic Circle.

In a press release, the Anglo Australian miner said that the new open-pit pipe will provide an important source of “incremental supply over the next four years to sustain production levels at the Rio Tinto operated mine.”

In the same statement, the company explained that A21 is located adjacent to Diavik’s existing mining operations in the Lac de Gras area. It took four years to build the pipe and first ore was delivered in March. Rio expects it to be at full production during the fourth quarter of 2018.

“It is a remarkable achievement to deliver this project safely and ahead of time in such a challenging environment, positioning Diavik to continue meeting the demand for its outstanding diamonds,” Rio Tinto Copper & Diamonds chief executive, Arnaud Soirat, said in the brief.

Some $350 million were invested in the construction of A21, with the financial burden shared between Rio and joint venture partner Dominion Diamond Corporation, the latter in control of 40 per cent of the operation.

As a whole, Diavik started activities in 2003 and has an annual production of some 6-7 million carats of predominantly large, white gem-quality diamonds.

Source: mining.com

Rio opens new diamond pipe in subarctic Canada

Rio Tinto opened today a fourth diamond pipe at the subarctic Diavik Diamond Mine, located in the Northwest Territories of Canada, 220 kilometres south of the Arctic Circle.

In a press release, the Anglo Australian miner said that the new open-pit pipe will provide an important source of “incremental supply over the next four years to sustain production levels at the Rio Tinto operated mine.”

In the same statement, the company explained that A21 is located adjacent to Diavik’s existing mining operations in the Lac de Gras area. It took four years to build the pipe and first ore was delivered in March. Rio expects it to be at full production during the fourth quarter of 2018.

“It is a remarkable achievement to deliver this project safely and ahead of time in such a challenging environment, positioning Diavik to continue meeting the demand for its outstanding diamonds,” Rio Tinto Copper & Diamonds chief executive, Arnaud Soirat, said in the brief.

Some $350 million were invested in the construction of A21, with the financial burden shared between Rio and joint venture partner Dominion Diamond Corporation, the latter in control of 40 per cent of the operation.

As a whole, Diavik started activities in 2003 and has an annual production of some 6-7 million carats of predominantly large, white gem-quality diamonds.

Source: mining.com

US change of ‘diamond’ definition has Indian exports worried

India’s diamond exports to the United States of America is under threat after that country’s Federal Trade Commission (FTC) announced last month that there would henceforth be no distinction between natural and man made sparklers.

The FTC had originally defined a diamond as “a natural mineral consisting essentially of pure carbon crystallized in the isometric system”. The definition has now been modified with the word “natural” removed from it. The FTC went on to say that the definition of a diamond was being changed because it was now possible to create diamonds in a laboratory. “These stones have essentially the same optical, physical and chemical properties as mined diamonds. 

Thus, they are diamonds,” FTC’s statement said. Lab-grown diamonds or “American diamonds”, as they are called, are expected to receive a big boost since the US is one of the biggest markets in the world for smaller diamonds. According to diamond traders here lab-grown diamonds are almost 40 per cent cheaper than those mined from the bowels of the earth. 

It is felt that continuing technological advances in the field will bring down the price of lab-grown diamonds even more in the coming years. India, which exported $8 billion worth of polished diamonds to the US in 2017, is worried. “We are already been reaching out to different industry bodies and stakeholders to help fashion a common global response,” Sabyasachi Ray, Executive Director, Gem and Jewellery Export Promotion Council said in a statement here last week. 

The country’s apex body of gem and jewellery exporters went on to say that it was not opposed to synthetic or lab-grown diamonds. “We have always maintained that it can be developed as a separate vertical that is not confused with the natural diamond pipeline,” Ray added.

Source:DCLA

US change of ‘diamond’ definition has Indian exports worried

India’s diamond exports to the United States of America is under threat after that country’s Federal Trade Commission (FTC) announced last month that there would henceforth be no distinction between natural and man made sparklers.

The FTC had originally defined a diamond as “a natural mineral consisting essentially of pure carbon crystallized in the isometric system”. The definition has now been modified with the word “natural” removed from it. The FTC went on to say that the definition of a diamond was being changed because it was now possible to create diamonds in a laboratory. “These stones have essentially the same optical, physical and chemical properties as mined diamonds. 

Thus, they are diamonds,” FTC’s statement said. Lab-grown diamonds or “American diamonds”, as they are called, are expected to receive a big boost since the US is one of the biggest markets in the world for smaller diamonds. According to diamond traders here lab-grown diamonds are almost 40 per cent cheaper than those mined from the bowels of the earth. 

It is felt that continuing technological advances in the field will bring down the price of lab-grown diamonds even more in the coming years. India, which exported $8 billion worth of polished diamonds to the US in 2017, is worried. “We are already been reaching out to different industry bodies and stakeholders to help fashion a common global response,” Sabyasachi Ray, Executive Director, Gem and Jewellery Export Promotion Council said in a statement here last week. 

The country’s apex body of gem and jewellery exporters went on to say that it was not opposed to synthetic or lab-grown diamonds. “We have always maintained that it can be developed as a separate vertical that is not confused with the natural diamond pipeline,” Ray added.

Source:DCLA

How to Remove a Stuck Ring Safely

A stuck ring can simply be the result of wearing a ring that’s too small. It can also be caused from arthritis of joints, which can happen as your body changes over the years. This can cause the joints and/or tissue to swell, which prevents you from removing your ring.

When you can’t simply slide your ring off, try these steps for safely removing a ring:

1. Squirt some Windex – yes Windex – on the finger and ring. Or, use any lubricant such as soap or oil.
2. Elevate the hand overhead for 5-10 minutes with ice around the ring and finger.
3. Use dental floss or a thread to compress the swollen finger as shown:

a. Slip the thread or floss under the stuck ring with the bulk of it toward the fingertip.

b. Beginning at the top of the ring, snuggly wrap the finger with the thread/floss around and around, compressing the finger, all the way up and over the knuckle.

c. With the end that was under the ring, begin to unwrap the thread or floss with the ring sliding over the knuckle as you go.

*If all else fails, cut the ring off with a ring cutter found in jewelry stores, fire departments and emergency rooms.
See video: https://www.youtube.com/watch?v=KJHUAwEx1bY
Source: assh.org

How to Remove a Stuck Ring Safely

A stuck ring can simply be the result of wearing a ring that’s too small. It can also be caused from arthritis of joints, which can happen as your body changes over the years. This can cause the joints and/or tissue to swell, which prevents you from removing your ring.

When you can’t simply slide your ring off, try these steps for safely removing a ring:

1. Squirt some Windex – yes Windex – on the finger and ring. Or, use any lubricant such as soap or oil.
2. Elevate the hand overhead for 5-10 minutes with ice around the ring and finger.
3. Use dental floss or a thread to compress the swollen finger as shown:

a. Slip the thread or floss under the stuck ring with the bulk of it toward the fingertip.

b. Beginning at the top of the ring, snuggly wrap the finger with the thread/floss around and around, compressing the finger, all the way up and over the knuckle.

c. With the end that was under the ring, begin to unwrap the thread or floss with the ring sliding over the knuckle as you go.

*If all else fails, cut the ring off with a ring cutter found in jewelry stores, fire departments and emergency rooms.
See video: https://www.youtube.com/watch?v=KJHUAwEx1bY
Source: assh.org

ALROSA To Hold Auction Of Large Diamonds In Israel

Alrosa the world’s largest diamond miner, will hold an auction for the sale of special size rough diamonds weighing over 10.8 carats in Israel from August 19 to September 6.

The company will auction 202 gem quality rough diamonds with a total weight of 3,165 carats. About 100 companies from Israel, Belgium, India, Hong Kong and Russia were invited to participate in the auction.

“The end of summer is traditionally a good time for auctions the demand for rough diamonds is growing. It is also relevant for Israel where our goods are always in demand and most local companies specialize in large size rough diamonds.

 According to all these factors we made changes to our plans and increased the number of stones for the sale. Now we look forward to a high demand for our diamonds and good results of the auction,” said Evgeny Agureev, a Member of the Executive committee, Director of the USO ALROSA.

Under Russian law, diamonds of special sizes weighing over 10.8 carats can only be sold at auctions.
ALROSA will hold another auction in Israel in November.

Source: IDEX Online

ALROSA To Hold Auction Of Large Diamonds In Israel

Alrosa the world’s largest diamond miner, will hold an auction for the sale of special size rough diamonds weighing over 10.8 carats in Israel from August 19 to September 6.

The company will auction 202 gem quality rough diamonds with a total weight of 3,165 carats. About 100 companies from Israel, Belgium, India, Hong Kong and Russia were invited to participate in the auction.

“The end of summer is traditionally a good time for auctions the demand for rough diamonds is growing. It is also relevant for Israel where our goods are always in demand and most local companies specialize in large size rough diamonds.

 According to all these factors we made changes to our plans and increased the number of stones for the sale. Now we look forward to a high demand for our diamonds and good results of the auction,” said Evgeny Agureev, a Member of the Executive committee, Director of the USO ALROSA.

Under Russian law, diamonds of special sizes weighing over 10.8 carats can only be sold at auctions.
ALROSA will hold another auction in Israel in November.

Source: IDEX Online

Gem Diamonds big discoveries reach a dozen

Africa focused Gem Diamonds must be getting used to recovering huge precious rocks from its flagship Letšeng mine in Lesotho, as it has just dug up another massive one.

The 138 carat, top white colour Type IIa diamond is 12th diamond over 100 carats the company finds this year, beating the 11 it dug up in 2015.

The largest diamond found this year is a 910 carat  D colour type IIa diamond, about the size of two golf balls, which was named the “Lesotho Legend.”  It became the second largest recovered in the past century and sold for $40 million at an auction in March.

Since acquiring Letšeng in 2006, Gem Diamonds has found now five of the 20 largest white gem quality diamonds ever recovered, which makes the mine the world’s highest dollar per carat kimberlite diamond operation.

At an average elevation of 3,100 metres above sea level, Letšeng is also one of the world’s highest diamond mines.

The biggest diamond ever found was the 3,106 carat Cullinan, dug near Pretoria, South Africa, in 1905. It was later cut into several stones, including the First Star of Africa and the Second Star of Africa, which are part of Britain’s Crown Jewels held in the Tower of London.

Lucara’s 1,109 carat Lesedi La Rona was the second biggest in record, while the 995 carat Excelsior and 969 carat Star of Sierra Leone were the third  and fourth largest.

Source: mining.com

Gem Diamonds big discoveries reach a dozen

Africa focused Gem Diamonds must be getting used to recovering huge precious rocks from its flagship Letšeng mine in Lesotho, as it has just dug up another massive one.

The 138 carat, top white colour Type IIa diamond is 12th diamond over 100 carats the company finds this year, beating the 11 it dug up in 2015.

The largest diamond found this year is a 910 carat  D colour type IIa diamond, about the size of two golf balls, which was named the “Lesotho Legend.”  It became the second largest recovered in the past century and sold for $40 million at an auction in March.

Since acquiring Letšeng in 2006, Gem Diamonds has found now five of the 20 largest white gem quality diamonds ever recovered, which makes the mine the world’s highest dollar per carat kimberlite diamond operation.

At an average elevation of 3,100 metres above sea level, Letšeng is also one of the world’s highest diamond mines.

The biggest diamond ever found was the 3,106 carat Cullinan, dug near Pretoria, South Africa, in 1905. It was later cut into several stones, including the First Star of Africa and the Second Star of Africa, which are part of Britain’s Crown Jewels held in the Tower of London.

Lucara’s 1,109 carat Lesedi La Rona was the second biggest in record, while the 995 carat Excelsior and 969 carat Star of Sierra Leone were the third  and fourth largest.

Source: mining.com

GIA Spots Broken Diamond Glued Back Together

The Gemological Institute of America (GIA) has identified a stone comprising two halves of a diamond that had been stuck together with an “unknown adhesive.”

Graders noticed a large fracture and cavity on the table of the marquise-cut, 1.38-carat polished diamond submitted to the GIA’s laboratory in Carlsbad, California, for colored-diamond testing. When the gemologists examined the crack under a microscope, they noticed a gap running down the stone from the crown to the pavilion, as well as a slight misalignment in the facets and air bubbles inside the fracture.

The polish lines on the stone’s facets would have linked if there hadn’t been a fracture, GIA gemologist Troy Ardon explained this month in a lab note in the latest edition of Gems & Gemology. For that reason, gemologists determined that the stone had been broken in half after it was at least partially polished, and then repaired with an unidentified adhesive.

“Diamonds have been adhered together with glue to form a diamond-doublet, but a broken diamond that has been repaired was not something previously reported by GIA,” Ardon added.

The GIA couldn’t grade the diamond because the 4Cs wouldn’t apply to it, the note continued. A carat weight would have been meaningless, as it would have comprised the weight of both halves plus the adhesive.

Image: Robison McMurtry/GIA

GIA Spots Broken Diamond Glued Back Together

The Gemological Institute of America (GIA) has identified a stone comprising two halves of a diamond that had been stuck together with an “unknown adhesive.”

Graders noticed a large fracture and cavity on the table of the marquise-cut, 1.38-carat polished diamond submitted to the GIA’s laboratory in Carlsbad, California, for colored-diamond testing. When the gemologists examined the crack under a microscope, they noticed a gap running down the stone from the crown to the pavilion, as well as a slight misalignment in the facets and air bubbles inside the fracture.

The polish lines on the stone’s facets would have linked if there hadn’t been a fracture, GIA gemologist Troy Ardon explained this month in a lab note in the latest edition of Gems & Gemology. For that reason, gemologists determined that the stone had been broken in half after it was at least partially polished, and then repaired with an unidentified adhesive.

“Diamonds have been adhered together with glue to form a diamond-doublet, but a broken diamond that has been repaired was not something previously reported by GIA,” Ardon added.

The GIA couldn’t grade the diamond because the 4Cs wouldn’t apply to it, the note continued. A carat weight would have been meaningless, as it would have comprised the weight of both halves plus the adhesive.

Image: Robison McMurtry/GIA

Pandora to Slash Nearly 400 Jobs

Pandora plans to lay off 397 employees after disappointing second quarter results and a weakened outlook for the rest of the year.

While sales grew 4% in local currencies to $748.2 million (DKK 4.82 billion) for the quarter, the retailer lowered its revenue guidance for the year to an increase of 4% to 7%, from its previous forecast of 7% to 10%. It also expects lower profit margins, after that measure declined in the second quarter, it said Monday. The company’s stock price was down 21% at press time Tuesday.

Streamlining the business will help Pandora’s financial performance by reducing complexity and shifting resources to strategic priorities such as digital and e-commerce sales, CEO Anders Colding Friis explained in a separate statement Tuesday. Pandora has nearly doubled in size in the past three years, with new organizational practices emerging in different parts of the company, the executive added. The changes will reduce costs by about $23.3 million (DKK 150 million) per year, the company said.

“The adjustments are…necessary to protect our profitability,” Colding Friis said. “Sadly, the changes mean that good employees will lose their jobs, and we are supporting them in the best possible way.”
Of the layoffs, 218 will be in Thailand, where Pandora employs 13,000 people, including 5,000 at a new manufacturing center it unveiled in June. The company’s global workforce numbers 27,000.

Pandora has suffered from weak demand for its products in the US, as well as competition from unauthorized traders in the Asia Pacific region. Last month, it said it had reduced retail prices in China to combat the grey market, in which other companies sell its products without a license.

Meanwhile, Pandora has appointed Sid Keswani as president for the Americas. Keswani is a former CEO of grocery store chain Fiesta Mart, and replaces Scott Burger, who left the company in January. He will begin on August 13, reporting directly to the CEO.

Pandora will release its full results for the second quarter on August 9.

Pandora to Slash Nearly 400 Jobs

Pandora plans to lay off 397 employees after disappointing second quarter results and a weakened outlook for the rest of the year.

While sales grew 4% in local currencies to $748.2 million (DKK 4.82 billion) for the quarter, the retailer lowered its revenue guidance for the year to an increase of 4% to 7%, from its previous forecast of 7% to 10%. It also expects lower profit margins, after that measure declined in the second quarter, it said Monday. The company’s stock price was down 21% at press time Tuesday.

Streamlining the business will help Pandora’s financial performance by reducing complexity and shifting resources to strategic priorities such as digital and e-commerce sales, CEO Anders Colding Friis explained in a separate statement Tuesday. Pandora has nearly doubled in size in the past three years, with new organizational practices emerging in different parts of the company, the executive added. The changes will reduce costs by about $23.3 million (DKK 150 million) per year, the company said.

“The adjustments are…necessary to protect our profitability,” Colding Friis said. “Sadly, the changes mean that good employees will lose their jobs, and we are supporting them in the best possible way.”
Of the layoffs, 218 will be in Thailand, where Pandora employs 13,000 people, including 5,000 at a new manufacturing center it unveiled in June. The company’s global workforce numbers 27,000.

Pandora has suffered from weak demand for its products in the US, as well as competition from unauthorized traders in the Asia Pacific region. Last month, it said it had reduced retail prices in China to combat the grey market, in which other companies sell its products without a license.

Meanwhile, Pandora has appointed Sid Keswani as president for the Americas. Keswani is a former CEO of grocery store chain Fiesta Mart, and replaces Scott Burger, who left the company in January. He will begin on August 13, reporting directly to the CEO.

Pandora will release its full results for the second quarter on August 9.

Lucapa Finds 3 More Special Diamonds at Mothae Mine

Just a week after unearthing an 11.88 carat diamond, Lucapa Diamond Company has recovered more “special” diamonds from its Mothae mine, including a 28-carat stone and two light pink diamonds.

Special diamonds, a term the company uses to describe any diamond over 10.8 carats, have been abundant at Mothae in recent weeks.

The company is currently conducting ongoing bulk sampling, and recent results have included an 89 carat yellow stone from Mothae’s South East zone, a 25 carat yellow gem from the Neck zone and a 12-carat white diamond from the North zone.

The bulk sampling at the site is happening alongside construction of a new 150-tonne-per-hour commercial diamond plant, which is on schedule to be commissioned in H2 2018.

Lucapa Managing Director Stephen Wetherall has previously discussed the company’s bulk-sampling program, describing the prior lack of exploration at the site.

“Certain areas of the kimberlite pipe which hadn’t historically been sampled (Neck zone), or where there had been very limited historical testing (South-East and North zones), were thought to be underestimated as a result. At the time of acquisition, we believed there was much upside here and this program is designed to deliver that upside,” Wetherall said.

Wetherall also touched on the commercial diamond plant’s construction, and how the successful recovery results have given the company optimism for the road ahead.

“To have already recovered special sized diamonds from early sampling tonnages in all three of these areas gives us great confidence we can achieve this goal. It also adds to our excitement as we advance construction of our new 150 tph plant, which remains on track for commercial diamond production later this year,” he said.

The Mothae mine, located in Lesotho, South Africa, is a joint venture between Lucapa, which owns 70 percent, and the government of the Kingdom of Lesotho, which owns 30 percent.

Source: DCLA

Lucapa Finds 3 More Special Diamonds at Mothae Mine

Just a week after unearthing an 11.88 carat diamond, Lucapa Diamond Company has recovered more “special” diamonds from its Mothae mine, including a 28-carat stone and two light pink diamonds.

Special diamonds, a term the company uses to describe any diamond over 10.8 carats, have been abundant at Mothae in recent weeks.

The company is currently conducting ongoing bulk sampling, and recent results have included an 89 carat yellow stone from Mothae’s South East zone, a 25 carat yellow gem from the Neck zone and a 12-carat white diamond from the North zone.

The bulk sampling at the site is happening alongside construction of a new 150-tonne-per-hour commercial diamond plant, which is on schedule to be commissioned in H2 2018.

Lucapa Managing Director Stephen Wetherall has previously discussed the company’s bulk-sampling program, describing the prior lack of exploration at the site.

“Certain areas of the kimberlite pipe which hadn’t historically been sampled (Neck zone), or where there had been very limited historical testing (South-East and North zones), were thought to be underestimated as a result. At the time of acquisition, we believed there was much upside here and this program is designed to deliver that upside,” Wetherall said.

Wetherall also touched on the commercial diamond plant’s construction, and how the successful recovery results have given the company optimism for the road ahead.

“To have already recovered special sized diamonds from early sampling tonnages in all three of these areas gives us great confidence we can achieve this goal. It also adds to our excitement as we advance construction of our new 150 tph plant, which remains on track for commercial diamond production later this year,” he said.

The Mothae mine, located in Lesotho, South Africa, is a joint venture between Lucapa, which owns 70 percent, and the government of the Kingdom of Lesotho, which owns 30 percent.

Source: DCLA

Mouawad Group Buys 51.38 Carat Dynasty Diamond From ALROSA

The Mouawad Group has acquired the 51.38 carat Dynasty diamond, the central diamond in a collection offered for sale by ALROSA.

The total revenue from the sale of the Dynasty collection amounted to about $10 million.

Fred and Pascal Mouawad, co-guardians of the jewelry firm, said: “We’re very proud of this important acquisition. We will add it to our repertoire of historic diamonds.

 What attracted us to the Dynasty is not only its exceptional quality but the transparency of its history and the fact it’s the largest and most valuable diamond ever sold by ALROSA. It’s a rare gem with a remarkable record.”

ALROSA sold the Dynasty diamond at a public auction on its electronic trading platform on August 2. The miner said that the Dynasty stone, a traditional round brilliant-cut diamond, D color, VVS1 clarity was the best quality large diamond ever manufactured in Russia, and also the most expensive stone ever sold by ALROSA.

The Dynasty collection consisted of five diamonds manufactured from a 179-carat rough diamond. It took a year and a half to create the collection which was manufactured by the firm’s cutting and polishing division.

ALROSA held the first auction for the sale of the collection last November where four of the five stones were sold with final prices coming in at about 30% over reserve prices on average, the miner said.

Source: DCLA

Mouawad Group Buys 51.38 Carat Dynasty Diamond From ALROSA

The Mouawad Group has acquired the 51.38 carat Dynasty diamond, the central diamond in a collection offered for sale by ALROSA.

The total revenue from the sale of the Dynasty collection amounted to about $10 million.

Fred and Pascal Mouawad, co-guardians of the jewelry firm, said: “We’re very proud of this important acquisition. We will add it to our repertoire of historic diamonds.

 What attracted us to the Dynasty is not only its exceptional quality but the transparency of its history and the fact it’s the largest and most valuable diamond ever sold by ALROSA. It’s a rare gem with a remarkable record.”

ALROSA sold the Dynasty diamond at a public auction on its electronic trading platform on August 2. The miner said that the Dynasty stone, a traditional round brilliant-cut diamond, D color, VVS1 clarity was the best quality large diamond ever manufactured in Russia, and also the most expensive stone ever sold by ALROSA.

The Dynasty collection consisted of five diamonds manufactured from a 179-carat rough diamond. It took a year and a half to create the collection which was manufactured by the firm’s cutting and polishing division.

ALROSA held the first auction for the sale of the collection last November where four of the five stones were sold with final prices coming in at about 30% over reserve prices on average, the miner said.

Source: DCLA

Rich Dad Poor Dad author Robert Kiyosaki warns ‘biggest crash’ is coming

THE man who wrote one of the top finance books of all time has now warned we could be heading for the “biggest crash in world history”.
 

THE man who wrote one of the top personal finance books of all time has warned we could be heading for the “biggest crash in world history”.

Robert Kiyosaki, author of the 1997 bestseller Rich Dad Poor Dad and “self-proclaimed troublemaker”, has a simple piece of advice to protect yourself — buy gold.
“All markets boom and bust, it’s just life,” said Kiyosaki, who will be in Australia later this month to headline the Wealth Masters Tour in Sydney, Brisbane and Melbourne.
“Unfortunately we had a big crash in 2000, they called it the dotcom crash, then in 2008 it was the subprime real estate crash. The next is going to be the biggest of all. When it’s coming I don’t really know, but the foreshocks are sounding right now.”
Kiyosaki blamed the US Federal Reserve’s money printing policies, known as quantitative easing, for inflating the bubble. “In Australia they always say when America sneezes, Australia passes out,” he said.

“I’ve always been a gold bug. My latest book coming out is called Fake. There’s so much fake money. In 1971 Nixon took the dollar off the gold standard and the US dollar became fake money.
“The problem is it also became invisible, so they could print as much as they wanted. That’s why savers got wiped out. So for the average person, just buy some Aussie gold or silver coins from the Perth Mint. When the dollar goes down, gold goes up.”
Apart from that, “you need some kind of education” to make more money, he said.
Kiyosaki said not much had changed in the two decades since he wrote Rich Dad Poor Dad, which advocated for greater financial education.
“Absolutely not,” he said. “We still don’t teach financial education in schools. They teach economics, but they don’t really teach much beyond that. The positioning title of Rich Dad Poor Dad was what the rich teach their kids about money — it’s not, ‘Go to school and save money.’”
Kiyosaki said he had now taught in a number of schools and it was “shocking and disappointing”. “The students can only learn from the teacher, and the teacher doesn’t know much,” he said.
“They’re just out of touch with the reality of the world outside of school. My concern is the number of youth unemployed is so high now because they’re not prepared for the world.”
He said there were three main things “schools kind of mess you up in”.
“In school they teach you not to make mistakes, that mistakes mean you’re stupid,” he said. “But we’re designed to learn by making mistakes, babies learn to walk by falling down.”
The second thing was “don’t ask for help because it’s cheating”. “My ‘poor dad’ tried to solve his financial problems all by himself,” he said. “I operate my personal life like a rugby team, the best accountants, bookkeepers, bankers.”
The third thing was “that school teaches you there’s only one right answer”. “In the real world you’ve got to find mutual right answers,” he said.
Kiyosaki, who has faced criticism over the years for various issues including his real estate investment advice, said he was still a fan of real estate.
“It’s like anything else, it’s only a good investment if you’re a good investor,” he said. “‘Is cooking good? Are you a good cook?’
“I don’t sell investments at all, I don’t recommend anything, but people come up to me and say, ‘Tell me what to do.’ I think that comes from school, they’re just waiting for the answer. I’ve always recommended people take courses and study.
“In 1973 I came back from Vietnam, went for my MBA and took a real estate course. I was making more money off my real estate course than my MBA. I love real estate, I’ve never lost money in real estate, simply because I study it.”
Kiyosaki also shares the unique distinction of being the only person to have co-authored two books with US President Donald Trump, and was a supporter or the Republican during the 2016 election.
The pair teamed up in 2006 for Why We Want You to Be Rich: Two Men, One Message after meeting through education company The Learning Annex, and in 2011 released a sequel titled Midas Touch: Why Some Entrepreneurs Get Rich — And Why Most Don’t.
“I share the cover with him — it’s kind of a liability,” he laughs. “You either love him or hate him, that’s about it. I always crack up. There’s no two Donald Trumps, he is what you see, whereas with Obama and many politicians, you don’t know which guy you’re talking to.
“Trump is just Trump. He’s a good man, but I think he opens his mouth, puts his foot in his mouth then tweets about it. As you know, there’s no news without Trump anymore. I turn on any US station, it’s either Trump said this or Trump said that.”
Kiyosaki said “we won’t know” if Trump’s presidency had been a success until the dust had settled. “He’s shaking everything up, that’s for sure,” he said.

Source:  news.com.au

Rich Dad Poor Dad author Robert Kiyosaki warns ‘biggest crash’ is coming

THE man who wrote one of the top finance books of all time has now warned we could be heading for the “biggest crash in world history”.
 

THE man who wrote one of the top personal finance books of all time has warned we could be heading for the “biggest crash in world history”.

Robert Kiyosaki, author of the 1997 bestseller Rich Dad Poor Dad and “self-proclaimed troublemaker”, has a simple piece of advice to protect yourself — buy gold.
“All markets boom and bust, it’s just life,” said Kiyosaki, who will be in Australia later this month to headline the Wealth Masters Tour in Sydney, Brisbane and Melbourne.
“Unfortunately we had a big crash in 2000, they called it the dotcom crash, then in 2008 it was the subprime real estate crash. The next is going to be the biggest of all. When it’s coming I don’t really know, but the foreshocks are sounding right now.”
Kiyosaki blamed the US Federal Reserve’s money printing policies, known as quantitative easing, for inflating the bubble. “In Australia they always say when America sneezes, Australia passes out,” he said.

“I’ve always been a gold bug. My latest book coming out is called Fake. There’s so much fake money. In 1971 Nixon took the dollar off the gold standard and the US dollar became fake money.
“The problem is it also became invisible, so they could print as much as they wanted. That’s why savers got wiped out. So for the average person, just buy some Aussie gold or silver coins from the Perth Mint. When the dollar goes down, gold goes up.”
Apart from that, “you need some kind of education” to make more money, he said.
Kiyosaki said not much had changed in the two decades since he wrote Rich Dad Poor Dad, which advocated for greater financial education.
“Absolutely not,” he said. “We still don’t teach financial education in schools. They teach economics, but they don’t really teach much beyond that. The positioning title of Rich Dad Poor Dad was what the rich teach their kids about money — it’s not, ‘Go to school and save money.’”
Kiyosaki said he had now taught in a number of schools and it was “shocking and disappointing”. “The students can only learn from the teacher, and the teacher doesn’t know much,” he said.
“They’re just out of touch with the reality of the world outside of school. My concern is the number of youth unemployed is so high now because they’re not prepared for the world.”
He said there were three main things “schools kind of mess you up in”.
“In school they teach you not to make mistakes, that mistakes mean you’re stupid,” he said. “But we’re designed to learn by making mistakes, babies learn to walk by falling down.”
The second thing was “don’t ask for help because it’s cheating”. “My ‘poor dad’ tried to solve his financial problems all by himself,” he said. “I operate my personal life like a rugby team, the best accountants, bookkeepers, bankers.”
The third thing was “that school teaches you there’s only one right answer”. “In the real world you’ve got to find mutual right answers,” he said.
Kiyosaki, who has faced criticism over the years for various issues including his real estate investment advice, said he was still a fan of real estate.
“It’s like anything else, it’s only a good investment if you’re a good investor,” he said. “‘Is cooking good? Are you a good cook?’
“I don’t sell investments at all, I don’t recommend anything, but people come up to me and say, ‘Tell me what to do.’ I think that comes from school, they’re just waiting for the answer. I’ve always recommended people take courses and study.
“In 1973 I came back from Vietnam, went for my MBA and took a real estate course. I was making more money off my real estate course than my MBA. I love real estate, I’ve never lost money in real estate, simply because I study it.”
Kiyosaki also shares the unique distinction of being the only person to have co-authored two books with US President Donald Trump, and was a supporter or the Republican during the 2016 election.
The pair teamed up in 2006 for Why We Want You to Be Rich: Two Men, One Message after meeting through education company The Learning Annex, and in 2011 released a sequel titled Midas Touch: Why Some Entrepreneurs Get Rich — And Why Most Don’t.
“I share the cover with him — it’s kind of a liability,” he laughs. “You either love him or hate him, that’s about it. I always crack up. There’s no two Donald Trumps, he is what you see, whereas with Obama and many politicians, you don’t know which guy you’re talking to.
“Trump is just Trump. He’s a good man, but I think he opens his mouth, puts his foot in his mouth then tweets about it. As you know, there’s no news without Trump anymore. I turn on any US station, it’s either Trump said this or Trump said that.”
Kiyosaki said “we won’t know” if Trump’s presidency had been a success until the dust had settled. “He’s shaking everything up, that’s for sure,” he said.

Source:  news.com.au

Blue diamonds may be blue because of where they are formed

Blue Diamonds are the world’s most expensive diamonds,  some stones worth tens of millions.

Why they are blue has long been know, But until now nobody has known how rare blue diamonds are made or where they come from.

Now scientists have discovered that they are formed 400 miles below the surface of the Earth, around four times the depth of cape series or white diamonds.

This is where the element boron can combine with carbon in such extreme pressure and heat that it crystallizes into the world’s most precious stone.

And because boron is mostly found on the Earth’s surface, scientists believe that it must have traveled down into the mantle when tectonic plates slipped beneath each other.

 Eventually volcanic action brought the diamonds up closer to the surface.

Blue Diamond is categorized as type IIb crystal and due to their extreme valuable, it is very rare to find one for scientific research purposes. An rare to find one that contains inclusions.

Source: DCLA

Blue diamonds may be blue because of where they are formed

Blue Diamonds are the world’s most expensive diamonds,  some stones worth tens of millions.

Why they are blue has long been know, But until now nobody has known how rare blue diamonds are made or where they come from.

Now scientists have discovered that they are formed 400 miles below the surface of the Earth, around four times the depth of cape series or white diamonds.

This is where the element boron can combine with carbon in such extreme pressure and heat that it crystallizes into the world’s most precious stone.

And because boron is mostly found on the Earth’s surface, scientists believe that it must have traveled down into the mantle when tectonic plates slipped beneath each other.

 Eventually volcanic action brought the diamonds up closer to the surface.

Blue Diamond is categorized as type IIb crystal and due to their extreme valuable, it is very rare to find one for scientific research purposes. An rare to find one that contains inclusions.

Source: DCLA