Historic Fabergé Egg Encrusted with Diamonds Sets New World Record

A rare imperial Fabergé masterpiece lavishly adorned with platinum and 4,500 diamonds has achieved a remarkable £22.9 million at auction in London, establishing a new world record for any Fabergé artwork.

The famed Winter Egg was commissioned in 1913 by Emperor Nicholas II of Russia as an Easter gift for his mother, Dowager Empress Maria Feodorovna. Considered one of the most spectacular creations by the House of Fabergé, the piece showcases masterful artistry: a flawless rock crystal shell, intricately engraved to resemble winter frost, embellished with a delicate snowflake motif and shimmering diamonds.

Christie’s confirmed that the £22,895,000 sale price surpasses the previous Fabergé auction record by more than £13 million a benchmark also set by Christie’s in 2007 with the sale of the Rothschild Egg for £8.9 million. Remarkably, this is the third time the Winter Egg has broken the world record for a Fabergé creation.

“Today’s result reaffirms the enduring significance of this masterpiece, celebrating the rarity and brilliance of what is widely regarded as one of Fabergé’s finest creations,”
said Margo Oganesian, Christie’s Head of Fabergé & Russian Works of Art.

Only a limited number of Imperial Eggs remain in private ownership, making this sale a landmark moment for collectors and institutions worldwide.

A Tumultuous Century of Provenance

Following the fall of the Russian monarchy in 1917, the Winter Egg was moved to the Kremlin Armoury and later included in Soviet sales of royal treasures during the 1920s.

Over its journey through history:

Purchased by Wartski of London in the early 20th century for just £450

Sold privately in 1934 for £1,500

Considered lost between 1975–1994

Re-emerged at Christie’s in 1994, achieving a record 7,263,500 Swiss francs (£6.8 million)

Set a new record once more in 2002 at $9,579,000 (£7.1 million)

Today’s sale firmly cements its status as one of the most coveted objets d’art ever created.

Celebrating Excellence in Diamond Craftsmanship

With its extraordinary diamond detail and technical precision, the Winter Egg continues to define the pinnacle of artisanal luxury. Each stone carefully set into platinum reflects the superior craftsmanship that has made Fabergé synonymous with imperial elegance.

For DCLA, iconic pieces such as this highlight the enduring importance of diamond quality, authentication, and expert certification ensuring that history and value are preserved for future generations.

Source: DCLA

No Probe into Collapse of Diamond Brand with $220m Debts

The UK’s Serious Fraud Office (SFO) decided not to investigate the luxury diamond jewelry brand Vashi, which subsequently collapsed in 2023 with debts of $220m, according to the BBC.

The company gained attention for its innovative approach to selling high-quality diamonds directly to consumers, and for its flamboyant founder, chairman and CEO Vashi Dominguez. But it was declared bankrupt in April 2023 after a court ruling forced it into liquidation.

But the company’s former chief technology officer John Ames reportedly warned the SFO that Vashi was defrauding investors and falsifying accounts in May 2022, almost a year earlier.

The SFO decided not to investigate, according to a BBC report, despite documentation which allegedly showed the company had made sales worth £5.5m ($7.2m) in 2020, rather than the £53.6m ($70m) boasted of in marketing materials and filed in the company accounts.

Mr Ames contacted the SFO in May 2022. In an online form he said: “I discovered (Vashi) to be defrauding their investors, they are also likely to be misstating information on their statutory reporting, both through inflated stock holdings and failing to provide details on revenue sources.”

Dominguez reportedly left for Dubai on the day the company went into liquidation. His whereabouts are not known.

Dominguez (pictured) attracted investment from high-profile backers, including mobile phones billionaire John Cauldwell, and Nick Wheeler, founder of British shirtmaker Charles Tyrwhitt.

The Spanish-born entrepreneur also had a flair for self-publicity, positioned himself as a diamond expert in national newspapers and appeared with celebrities on TV.

Source: DCLA

Two Arrested over $540,000 Online Diamond Fraud

Two men have been arrested in India, accused of a sophisticated online fraud in which they obtained diamonds worth $542,000.

They and their accomplices allegedly posed as genuine US-based buyers on the RapNet trading platform.

They negotiated the purchase of diamonds from six traders in Surat, had the stones shipped, then disappeared without paying.

Police in Surat say they have arrested two men from the city – named as Nikunj Ambaliya and Mitul Goti – and are pursuing eight other suspects.

Officers were first alerted by trader Sanjay Goti, who sold a $90,000 diamond to man who identified himself as Arson Isaco.

Payment was due within seven days. But Goti became concerned when “Arson Isaco” made excuses, then switched off his phone and failed to pay.

Five other traders subsequently came forward with similar accounts, relating to six diamonds.

Goti said he’d contacted a number of diamond firms in Surat and had confirmed that a buyer of that name existed.

The accused men posed as employees of US diamond firms and took delivery of the diamonds in Dubai, Hong Kong, and Bangkok, said Karanraj Vaghela, of Surat police.

“After investigations, we arrested Nikunj Ambaliya and Mitul Goti, and identified Chetan Suthar and Anuj Shah as co-accused. These four, along with six others, conspired to cheat reputed diamond traders in an international diamond fraud.”

Source: DCLA

Diamonds as Time Capsules: Rare Inclusions Reveal Hidden Chemistry Deep Within Earth’s Mantle

Two extraordinary diamonds from South Africa have provided scientists with a rare glimpse into the hidden chemistry of Earth’s mantle—nearly 300 kilometres beneath the surface.

A research team from the Hebrew University of Jerusalem has identified the first direct evidence of nickel-iron metallic alloys and nickel-rich carbonates at these extreme depths. The discovery was made by examining tiny inclusions preserved inside diamonds from the Voorspoed mine in South Africa.

Diamonds as Nature’s Record Keepers

While diamonds are prized for their beauty, their true scientific value often lies in what they conceal. Inclusions—whether microscopic minerals or metallic alloys—serve as natural records of deep-Earth processes that would otherwise remain invisible.

“These diamonds act as tiny time capsules, preserving a rare chemical reaction that would otherwise disappear,” explained lead researcher Yaakov Weiss.

The inclusions confirm the diamonds’ origins in the deep upper mantle and shallow transition zone, at depths of 280–470 kilometres.

Unlocking Diamond Formation

The study revealed an unusual coexistence of nickel-iron alloy and nickel-rich carbonate within the same inclusions. Normally, these materials would react instantly and could not exist side by side. Their preservation points to a process known as a metasomatic redox-freezing reaction, in which oxidised, carbon-rich melts infiltrate metal-bearing mantle rock.

This finding strengthens the theory that diamonds can form from reactions between carbonates and reduced metals in the mantle—a mechanism first suggested by evidence at shallower depths.

It may also explain why some natural diamonds contain nickel atoms within their crystal structure, solving a mystery that has long puzzled geologists.

Insights into Volcanoes and Kimberlites

The implications extend beyond diamond formation. The reactions preserved within these inclusions suggest that the mantle becomes enriched with elements like carbon and potassium. This enrichment may be a critical step in generating kimberlite magmas—the volcanic eruptions that transport diamonds to the surface.

A Scientific Treasure

For the DCLA, this discovery highlights yet another dimension of diamond’s significance. Beyond their role as treasured gems, diamonds are windows into Earth’s inaccessible depths, preserving geological secrets for millions of years.

As Yaakov Weiss put it:
“Diamonds act as tiny time capsules, capturing a moment of mantle chemistry in action.”

Source: DCLA

Indian Diamond Smuggler Jailed in Vietnam

An Indian national has been jailed for seven years in Vietnam after he admitted smuggling diamonds worth $320,000 into the country.

Dapale Alkesh Kashinath, 28, said he’d been paid INR 10,000 ($120) by his employer, a Mumbai-based diamond company, to take the stones into the country without declaring them at customs.

Vietnam charges import duties of up to 27 per cent on polished diamonds and jewelry. VAT and other taxes may also apply.

It was Kashinath’s sixth or seventh smuggling trip. He would meet buyers at hotels and hand over the goods once they’d supplied coded and symbols agreed in advance with his employer.

He was apprehended at Tan Son Nhat International (pictured), Vietnam’s largest airport, in Ho Chi Minh City in October 2024.

X-rays of luggage revealed he had 15 plastic bags, containing 362 natural diamonds, hidden inside two candy boxes.

Kashinath was sentenced to seven years in prison last Friday (5 September) at Ho Chi Minh City People’s Court. An application to pay a fine instead was rejected.

Source: DCLA

Why Old Mine Cut Diamonds Are Back in Vogue

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

A Glimpse into History

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

The Allure of Imperfection

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

Sustainability and Authenticity

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

Modern Designers Embrace the Vintage Appeal

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

A Market on the Rise

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

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

Source: DCLA

De Beers and Blockchain: Revolutionising Diamond Tracking – But What About the Other 95%?

The diamond industry has long sought to improve transparency and accountability in how stones are tracked from mine to market. Historically, this relied on paper certificates and manual verification, which were open to forgery, loss, or human error. In recent years, blockchain technology has been introduced as a potential game-changer, offering an immutable digital record of a diamond’s provenance.

From Certificates to Blockchain

Where traditional certificates only provided a snapshot at one point in time, blockchain creates a permanent digital ledger that records every transaction across the supply chain. By using cryptography and decentralisation, platforms like De Beers’ Tracr system provide real-time verification and an unbroken chain of custody for participating diamonds.

For newly mined stones, this represents an important step forward in consumer confidence. Every registered diamond receives a unique digital identity, effectively becoming a “digital twin” of the physical gem. As the diamond travels through cutting, polishing, wholesale, and retail, each transfer is logged and verifiable.

The Limitation: 95% of Diamonds Already in Public Hands

However, while blockchain provides strong assurances for newly mined diamonds, it is important to recognise its limits. More than 95% of all natural diamonds ever mined are already in private hands in jewellery, collections, and across secondary markets. These stones, already in circulation, were never registered on blockchain platforms and therefore cannot be retrospectively traced using this technology.

This means the vast majority of diamonds in existence today remain outside blockchain systems. While blockchain strengthens transparency for future production, it does not solve the challenges of verifying provenance for the overwhelming supply of diamonds already circulating globally.

Why This Matters for Consumers

For buyers and sellers in the secondary market, blockchain is not yet a universal solution. Laboratory expertise remains essential in verifying authenticity, grading, and ensuring consumer protection. At DCLA, as the official CIBJO laboratory for Australia, we recognise the critical role of independent certification. Accurate grading and unbiased reporting remain the foundation of consumer trust particularly for stones not captured by blockchain.

The Future of Diamond Transparency

De Beers’ blockchain initiative is a milestone that may eventually become standard practice across the industry. It addresses many historical weaknesses in tracking systems and aligns with modern consumer demand for ethical sourcing. But for now, blockchain is only part of the answer. The larger challenge remains: how to ensure transparency and trust for the diamonds already in circulation, which make up the majority of the world’s natural supply.

At DCLA, we believe blockchain should be seen as a complementary tool not a replacement for independent laboratory grading and certification. Only by combining robust science with innovative digital systems can the diamond industry achieve true transparency.

Source: DCLA

US Watch and Jewelry Sales Dip in June Ahead of Tariffs

Watch and jewelry sales in the US slipped into negative growth during June – down 1.7 per cent – after 19 months of almost uninterrupted increases.

The decline, after such a prolonged positive period, reflects growing concern over the impact of US reciprocal tariffs which came into force on 1 August, along with broader economic uncertainty in the market and higher gold prices.

Meanwhile the US Department of Commerce has made significant changes to figures published last month. Sales for May have been revised down from +2.8 per cent to +0.7 per cent, based on actual transactions rather than estimates, and April is down from +2.3 per cent to +1.8 per cent.

The original figures indicated that things were better than they actually were, especially after a number of months when monthly sales increases were hovering just above zero. The June dip appears to signal a downturn ahead of the 1 August implementation of tariffs.

Source: IDEX

US Jewelry Spending Up 10%, says Citibank

 

Spending on luxury jewelry in May was up by 10.1 per cent, according to Citigroup.

The figure is strikingly at odds with the US Department of Commerce, which puts the year-to-year figure for May at just 2.9 per cent.

Citi, the third biggest bank in the US, bases its analysis of its 10m-plus US credit card holders. The Department of Commerce uses its own estimates, then revises its figures based on actual through-the-till transactions.

Citi also says luxury watch spending increased by 14.7 per cent. The Department of Commerce put the figure at 2.4 per cent.

Citi said the overall spend on luxury goods was weak but recovering in May, down 1.7 per cent year over year, compared with a 6.8 per cent decline in April and 8.5 per cent in March.

Luxury jewelry has consistently outperformed other luxury segments, such as handbags and apparel, since September 2024, according to the Citi data.

Jewelry was the only category to see both an increase in average spend per customer and a rise in the number of individual customers in May 2025.

Consumers are increasingly choosing jewelry over handbags and other luxury goods, which have seen less innovation and sharper price hikes.

Source: DCLA

Diana’s Twin Nieces Stun in Over 150 Carats of Diamonds at Tiffany & Co. London Gala

Twin models and aristocrats Lady Amelia and Lady Eliza Spencer, nieces of the late Princess Diana, brought dazzling sophistication to Tiffany & Co.’s exclusive Blue Book High Jewellery Collection showcase, held atop The Harrods Helideck. The glamorous event marked one of London’s most prestigious evenings on the fine jewellery calendar, attended by fashion royalty and social elites alike.

The Spencer sisters, daughters of Earl Spencer, embodied modern British elegance as they arrived in bespoke Jenny Packham gowns paired with more than 150 carats of Tiffany & Co.’s finest high jewellery pieces—masterworks of exceptional diamond craftsmanship.

High Jewellery Spotlight:
Eliza Spencer captivated in a silver mirror-embellished gown, perfectly complemented by the Ocean Flora necklace—an intricate platinum masterpiece featuring five unenhanced emeralds totalling over 10 carats, and a staggering 1,351 round brilliant diamonds totalling more than 44 carats. According to Tiffany & Co., this single piece took over 1,500 hours of artisan craftsmanship to complete, a testament to the meticulous design and precision that defines high jewellery.

Amelia Spencer wore a striking strapless black and gold sequinned gown and adorned herself with the same Tiffany necklace that supermodel Miranda Kerr wore to the 2025 Met Gala. The piece—a platinum and 18k gold choker set with Akoya pearls and diamonds—features more than 50 carats of gemstones, reflecting Tiffany’s modern reinterpretation of timeless elegance. Her ensemble was completed with diamond cluster earrings and a compact Aspinal of London Micro Hat Box bag.

Red Carpet Elegance Continues:
Just one day earlier, the Spencer twins turned heads at the Serpentine Gallery Summer Party, wearing custom crimson gowns by Anamika Khanna Couture and showcasing statement diamond pieces by legendary Swiss house, Chatila. The event came just days ahead of the 31st anniversary of Princess Diana’s iconic appearance at the same venue—an enduring moment in royal fashion history.

A Legacy of Diamonds and Royal Style:
The Spencer twins continue to honour their family’s legacy with graceful nods to their late aunt’s legendary style, but they are carving their own path in the fashion and jewellery world. Their presence at Tiffany’s high jewellery presentation not only highlighted the next generation of aristocratic style icons, but also reaffirmed the role of exceptional diamonds in telling modern luxury stories.

—
At DCLA, we celebrate the enduring art of fine diamond craftsmanship. For more on gemological excellence and rare diamond showcases, stay connected to DCLA News.

Source: DCLA

Second Biggest Diamond in Brazil’s History

A 647-carat diamond recovered in Brazil is the country’s second biggest and has been valued at just over $3m.

The brown-colored gem was unearthed late last month in the Douradinho river bed, home to mining companies and artisanal miners (known locally as garimpeiros) in the rural area of Coromandel, in the southeast of the country.

Large diamond finds are rare in modern Brazil and generate significant local excitement and economic activity, especially in towns with a mining tradition like Coromandel.

“Everyone was euphoric because Coromandel has a lot of mining activity,” said a spokesman for the Coromandel municipality. “It has been a long time since a diamond of this size was discovered.”

The record for Brazil’s largest diamond is still held by the 726.6-carat President Vargas diamond, discovered in the same region back in 1938.

Brazil was the world’s top producer of diamonds from 1730 to 1870, but is now responsible for less than 1 per cent of global production, mostly from alluvial deposits.

According to the Brazilian news website Click Petroleo e Gas, the gem has already been sold.

Source: DCLA

Karelian clears key hurdle for EU’s first diamond mine

Karelian Diamond Resources has registered its Lahtojoki mining concession in the Finnish land registry, advancing its plan to develop what could become the European Union’s first diamond mine.

This registration, handled by the Finnish mining authority TUKES, allows the company to proceed with further development plans for the Lahtojoki diamond deposit.

TUKES had previously approved the concession and is also responsible for issuing the mining certificate.

Karelian noted that a hearing on compensation matters related to the project has been postponed until the Fall of 2025, potentially impacting the timeline for full-scale operations.

Lahtojoki is known for its high-quality gem diamonds, including rare pink and coloured stones that can fetch up to 20 times more than typical colourless gems. The company believes the diamondiferous kimberlite pipe has the potential to support a profitable, low strip ratio open-pit operation.

The Dublin-based company is simultaneously exploring and advancing other assets in Finland, containing nickel, copper and platinum group elements. It is also advancing exploration at a site in the Kuhmo region where it aims to discover the source of a rare green diamond it found in 2022.

Source: Mining.com

World’s Longest Diamond-Stud Necklace

Jewelers based in Dubai have set a world record with a diamond-stud necklace that’s 108 meters long.

Amaar Jewels was officially certified by Guinness World Records after crafting the piece from 650 grams of rose gold and more 600 hand-set lab grown diamonds.

It took 60 days to make what Amaar called “one continuous masterpiece”.

The necklace was displayed for the first time at the the 55th Watch and Jewellery Middle East Show (WJMES), which opened on 28 May at Expo Centre Sharjah, UAE, with more than 500 exhibitors 1,800 designers and manufacturers and over 80,000 visitors expected.

Source: DCLA

40% harder Than natural diamonds: Chinese scientists synthesize ‘super diamond’

Chinese scientists synthesized an artificial “super diamond” that is 40% harder and far more durable than natural diamonds. The findings of the research team were published in early February in the journal Nature Materials.

Led by Liu Bingbing and Yao Mingguang from Jilin University, the researchers discovered that by heating highly compressed graphite, it can transform into a hexagonal diamond. This synthetic creation possesses a hexagonal crystal form, which provides much greater strength compared to the cubic structure of most natural diamonds. The “super diamond” structure exhibits high thermal stability up to 1,100°C and a very high hardness of 155 Giga Pascals (GPa), according to the scientists.

“Our findings offer valuable insights regarding the graphite-to-diamond conversion under elevated pressure and temperature, providing opportunities for the fabrication and applications of this unique material,” the scientists wrote in the study.

Source: DCLA

Indian Govt. Advocates for Direct Diamond Trade at Mining Indaba 2025

A high-profile Indian delegation led by Shri R. Arulanandan, Director, Department of Commerce, Government of India actively participated in the “Opportunities in India” event, hosted by the Consulate General of India in Cape Town and the Government of India. The event was held on the sidelines of the prestigious Mining Indaba 2025.

The delegation, which included Shri Rajat Wani, Regional Director – Surat, GJEPC, highlighted the potential of Special Notified Zones (SNZs) for diamonds in Mumbai and Surat, focusing on their role in simplifying trade processes. Stressing the need to reduce the number of intermediaries in the diamond value chain, they underscored the importance of facilitating more direct trade of rough diamonds between India and African mining nations.

Direct auctioning of diamonds in SNZs was presented as a mutually beneficial strategy. Such a framework would enable African mining countries to secure higher returns on their diamond exports while allowing Indian buyers greater access to competitively priced rough diamonds.

The discussions also explored the necessity of consignment exports, a move that could align with African nations’ policies, such as “temporary export” mechanisms. The Indian delegation expressed optimism about overcoming logistical and regulatory challenges, ensuring a streamlined process that benefits all stakeholders.

Source: DCLA

Liz Taylor Bracelet Smashes Estimate

A diamond bracelet gifted by Michael Jackson to Elizabeth Taylor sold for $147,000, almost double its high estimate.

The diamond line bracelet, set with 27 graduated radiant-cut yellow-tinted diamonds was expected to fetch $61,000 to $86,000 (£50,000 to £70,000).

It sold on 30 January at the Woolley & Wallis auction house, in Sailsbury, southern England.

Taylor (who died in 2011) and Jackson (who died in 2009) were close friends for many years. Taylor was godmother to Jackson’s children Paris and Prince, and Jackson, the King of Pop, gifted her a number of jewelry pieces over the years. Among them was this bracelet, with a central diamond weighing 3.38 carats. 

The bracelet was sold previously in December 2011, for $182,500, at Christie New York’s The Collection of Elizabeth Taylor. It raised $116m (way beyond its $20m estimate) and broke the record for any collection of jewelry sold at auction.

Marielle Whiting, jewelry specialist at Woolley & Wallis, described the bracelet as a “beautiful and highly wearable diamond bracelet with truly legendary provenance that continues to live on”.

Source: DCLA

US$15 million in diamonds stolen in Namdia heist

A brazen diamond robbery at Namibia Desert Diamonds (Namdia) early on Saturday evening and involving what is suspected to be the company’s largest-ever consignment of precious stones received, has resulted in two fatalities and two arrests.

Although the figure could not be independently verified, a person with intricate knowledge of the matter said the diamonds are worth more than US$15 million (about N$280 million).

This consignment was reportedly delivered to Namdia’s premises by the Namibia Diamond Trading Company (NDTC).  NDTC is a 50:50 joint venture between the government and De Beers Namibia Holdings. It was formally conceived in January 2007 following an agreement to sort, value and market Namibian diamonds.

Responding to questions yesterday, NDTC CEO Brent Eiseb could not provide any details for security reasons. 

“For safety and security reasons, NDTC does not provide details of rough diamond deliveries/movements. Kindly refer all incident-related queries to Namdia,” Eiseb said.

The Namibian Police have said the exact amount of diamonds stolen in the robbery is unknown, pending an inventory by Namdia.

“The suspects fled with an unspecified amount of Namdia’s diamonds, whose value
is still to be ascertained. There were four suspects involved in the robbery. Two suspects are currently on the run. One suspect is in police custody. One suspect died from a self-inflicted gunshot wound during the incident,” Alisa Amupolo said in another statement issued late yesterday. According to sources familiar with Namdia’s modus operandi, the company was warned to tighten up its security. 

This, however, never happened.  “There were several warnings last year that the security left a lot to be desired. The staff has been worried about this.  The board chairman [Justus Hausiku] warned Alisa Amupolo [CEO] several times to focus on security,” said the source, who preferred to speak on condition of anonymity. 

Despite the advice to improve its security, Namdia’s offices were guarded by a single security guard only identified as Herman, who was seconded from a local security company. 

During the heist, Herman was handcuffed, but somehow managed to notify people at neighbouring premises to call the police, claiming “we’re being robbed”.

Execution

The police confirmed the execution-style killing of a Namdia protection officer during the robbery, as well as one of six perpetrators who succumbed to injuries sustained during the theft. “It is with deep sadness that we confirm an attempted armed robbery at our premises earlier today [Saturday], which tragically resulted in the loss of one of our valued staff members. We are cooperating fully with law-enforcement, and a thorough investigation is currently underway. As this is an ongoing investigation, we are working closely with the relevant authorities to establish the facts surrounding the incident. Namdia remains fully committed to ensuring the safety and security of both its staff and diamonds,” Amupolo said.

Crime report

The weekend police crime report issued yesterday stated that the robbery and murder occurred between 17h00 and 18h00 at the Namdia head office in Klein Windhoek. The police say armed suspects broke into the Namdia premises through yet-to-be determined means. 

The police further said the robbers held staff hostage by tying them up before stealing an undisclosed amount of diamonds.

“In one of the storerooms, the supervisor, who is a protection officer, was found dead with his hands and legs tied up and his face covered with a shopping bag, and a gunshot wound inflicted to the head. He was identified as Francis Eiseb, a 57-year-old Namibian male. His next of kin have been informed of his death,” the police crime report states.

Police said one of the robbery suspects was found with what appeared to be two gunshot wounds.  Late yesterday, police identified Max Endjala as the deceased suspect who was allegedly involved in the Namdia heist. His next of kin have also been informed of his death. He was an auditor at a local firm, according to reports. 

Law-enforcement officers at the scene collected four firearms and some knives. The investigation is ongoing, with the police appealing to members of the public who might have any information about the robbery or the suspects to pass it on to the relevant authorities.

Furthermore, sources said staff at Namdia were called in yesterday for interrogation on the robbery, which some people suspect took place based on inside information regarding the amount of diamonds on the premises at the time.

Family ties 

State broadcaster NBC also reported that one more arrest had been made in connection with the robbery. The male suspect is employed as a security officer at Namdia and is related to Endjala, the suspect who allegedly shot himself in the head, NBC reported.

Fond memories

In a social media post on Sunday, Namdia’s former CEO Kennedy Hamutenya hailed Eiseb as one of the hardest-working and most committed employees during his time. 

Eiseb, he reminisced, would perform above and beyond the call of duty. “He’d even volunteer to drive clients to and from the airport to ensure their safety. He was kind and cordial to all other colleagues, and was full of respect,” Hamutenya’s post reads.

Also taking to his WhatsApp social media platform yesterday was Bryan Eiseb, the Head of the Financial Intelligence Centre and a brother of the late Francis, who said the Eiseb family has “forgiven those who are responsible for Francis’ horrendous death. You [Francis] have paid the ultimate price for Namibia.” 

Namdia was founded by the government in 2016 to independently market and sell Namibia’s diamonds on the international market.  The Namdia headquarters is considered one of the most secure in Windhoek, considering the value consignments it regularly handles. It is estimated that Namdia annually sells some N$2 billion worth of diamonds on the international market. 
Read more: ‘N$280m gems’ stolen in Namdia heist  https://neweralive.na/n280m-gems-stolen-in-namdia-heist

Source: DCLA

Burgundy Sales “Bode Well for Recovering Diamond Market”

Burgundy Diamond Mines reported an increase in prices but a dip in revenue from its Ekati mine, in Canada, during Q4.

Sales held in October and December raised $47m and $46m respectively (total $93m) the Australia-based company said today (17 December) in its interim sales report and company update. Average prices per carat were $80 and $106 (all figures US dollars).

Total proceeds for the previous quarter, Q3, were $118m, with average prices down to $83 per carat in what it described at the time as a “soft diamond market”.

Kim Truter, Burgundy’s CEO, said the results “bode well for a recovering diamond market”.

He said prices at the December sale reflected a higher quality parcel of goods sold, and said there had been gains in the mid to large size categories, relative to the October sale.

Burgundy bought the Ekati mine, 125 miles south of the Arctic Circle, in Northwest Territories, last June for $136m from the Arctic Canadian Diamond Company and plans to extend its life by developing underground operations.

“The company looks forward to reporting the results of its mine life extension work at the Sable underground project and the Misery underground operation, in addition to an updated Fox underground prefeasibility study, commencing in Q1-2025,” Burgundy said.

Source: DCLA

Shutdown for 15,000 Diamond Workers after Boss Suffers Stroke

Maruti Impex, described as one of the world’s biggest manufacturers of small natural diamonds, is halting operations, and has advised its 15,000 workers to seek employment elsewhere.

The company’s founder, Suresh Lakhani, aged 45, suffered a stroke three months ago and remains in a coma.

He’s been the driving force behind the business, which he launched in 1995 when he was just 16 years old. He is said to be the sole decision maker.

The future of Maruti Impex, which operates over 100 units, directly and indirectly, in Surat, Bhavnagar, Amreli, and Junagadh, is now uncertain.

Staff were informed of the closure by audio message, just as diamond units re-open after the Diwali break.

They received salaries up to the holiday, but have been told it’s not clear when operations could resume. The company made mention of “three or four months”.

Family members stepped in short term following Lakhani’s stroke, but have reportedly decided to pause operations because of weak market conditions.

Times of India quotes Dinesh Navadiya, chairman of the Indian Diamond Institute, as saying: “Without his (Lakhani’s) leadership and given the current challenging market conditions, the management is unable to continue operations.”

Lakhani describes himself on LinkedIn as a “self-made entrepreneur and philanthropist who has built a successful global business – “Maruti Impex” from scratch. Maruti Impex is one of the largest companies in the world in cut and polished diamonds.”

Source: DCLA