A stunning platinum ring featuring a 5.02 carat blue diamond is set to headline Christie’s Hong Kong auction later this month, with an estimated value of up to US $10.3 million (HKD 80 million).
The centerpiece is an internally flawless, fancy deep blue marquise brilliant-cut diamond, graded by the Gemological Institute of America (GIA).
Dating back to 1923, the ring is listed in the auction catalog as “property of a lady,” though further details about the owner remain undisclosed.
This exquisite piece will lead the highly anticipated 124-lot Magnificent Jewels live sale on October 29, alongside a pair of diamond “Oriental Sunrise” earrings.
These earrings showcase two fancy vivid orange yellow diamonds (12.20 carats and 11.96 carats) and share the same US $10.3 million (HKD 80 million) high estimate.
Diamond is a naturally occurring rare mineral that is composed of pure elemental carbon. Due to the extremely rigid arrangement of the carbon atoms in a crystal structure, diamonds possess the maximum hardness and thermal productivity than any natural material. Diamonds are also in high demand as gemstones and as luxurious commodities. Despite having a reputation for being used in jewelry like rings and necklaces, 80% of mined diamonds are used for research and industrial purposes because of their toughness and shine.
The hardest substance known to man, diamonds, are frequently used to drill, grind, or cut other difficult materials. Initially, its reserves were only discovered in Africa and provided to the rest of the globe, but today, exploration and production of diamonds have also begun on other continents. Currently, Russia produces 30% of the world’s diamonds, and approximately 39.12 million carats of diamonds were produced in Russia in 2021, making it by far the greatest diamond-mining nation in the world. With a production of 22.9 and 17.6 million carats of diamonds, respectively, Botswana and Canada are placed in second and third place, followed by the Democratic Republic of the Congo and South Africa.
1. Russia (39.12 Million Carats)
Kimberlite pipe Mir. indigenous diamond deposits in Yakutia, Northern Russia.
Russia presently leads the world in diamond output after it began mining in 1947. Regarding volume, it is also the top exporter of rough diamonds worldwide. ALROSA is Russia’s largest diamond miner, maintaining a virtual monopoly over the sector and producing over 90% of the nation’s annual output. Russia houses some of the world’s greatest mines and diamond reserves (some of which have not yet been explored), including Udachny, Grib, and Aikhal. It was revealed in 2014 that Alrosa intends to expand the Udachny mine into a 5 million carat per year project, making it the most significant diamond mine in both Russia and the entire globe. Alrosa first used Udachny in 1971, and during the following 43 years, it has helped the company make over $80 billion. Alrosa should be able to keep its position as the world’s biggest diamond producer by volume for the foreseeable future due to Udachny’s figures.
2. Botswana (22.88 Million Carats)
Workers walking in top of the tailings of kimberlite at a diamond mine in Botswana.
A significant diamond mine was found in 1966, the year Botswana declared its independence from Britain, in a rural region called Orapa, about 250 miles from the nation’s capital of Gaborone. De Beers, the firm that discovered the mine, was and still is the world’s largest supplier of “rough stones.” The two most significant of the seven mines in the country are Orapa and Jwaneng. Despite ranking second in terms of volume, Botswana tops the list of the world’s top producers of diamonds. Botswana, which was one of the world’s 25 poorest nations, has achieved upper-middle income status due to the revenue from diamonds. The nation is currently vying for a more significant position in the sector as the No. 1 player Russia faces condemnation from around the world for its invasion of Ukraine.
3. Canada (17.62 Million Carats)
Aerial view of Ekati Diamond Mine in Northwest Territories, Canada. Image Credit: Jason Pineau via Wikimedia Commons
The Northwest Territories, which were once used as hunting grounds, are now used mainly for large-scale resource extraction, including diamond mining. Diamonds weren’t found by non-natives until 1991, specifically by two geologists named Chuck Fipke and Stewart Blusson. The first diamond mine in the Northwest Territories, known as Ekati, opened in 1998 because of this finding. The Arctic Canadian Diamond Company presently oversees the operation of Ekati, which is a responsible steward of the environment and a significant source of high-quality employment and money for the area. Most of Canada’s diamonds are mined in the Northwest Territories, which comprise about 40% of the total geographical area. There are currently four working diamond mines in Canada, three in the NWT – the Ekati, Diavik, and Gahcho Kué mines – and the Renard diamond mine in Quebec.
4. Democratic Republic Of The Congo (14.09 Million Carats)
The Democratic Republic of the Congo is the country that turned South Africa’s diamond industry profitable. Miniere de Bakwange (MIBA), a joint venture between the Belgian business Sibeka and the DRC government, which controls 80% of the company, is the only commercial diamond producer in the DRC. Although ongoing political unrest has caused production to fall recently, the DRC has the capacity to produce more diamonds. Only a tiny area has been examined, and mining has only ever been done on a small basis. Most of the DRC’s output is mined by the informal sector rather than mining companies. De Beers markets about one-third of Sibeka’s production and holds a 20% stake in the company.
5. South Africa (9.72 Million Carats)
Historic Kimberley Diamond mine in Kimberley, South Africa.
Almost all the modern diamond trade originates in South Africa. The earliest diamonds found in South Africa were alluvial diamonds. Diamonds were initially discovered in yellow earth in 1869, and then later below ground in hard rock called blue ground near and in what would become Kimberley in the Northern Cape, the diamond center of the world. Later, the blue rock was given the mining town’s name: kimberlite. One of the country’s biggest diamond deposits is located in the South African province of Gauteng. As the government and miners continue to find significant diamond resources and pipelines, the demand for diamonds in South Africa is anticipated to rise.
One can therefore expect the global diamond industry to keep expanding and displaying a bright future as long as economic prosperity continues to improve and as long as there are still diamond reserves that have not yet been mined.
The public can now feast their eyes on a big blue diamond thanks to New York’s American Museum of Natural History. The museum opened an exhibition Tuesday showcasing the “Okavango Blue,” a 20.46-carat oval-cut fancy deep blue diamond on loan from Okavango Diamond Company, which is wholly owned by the government of Botswana.
It has been given a VVS1 clarity grade from GIA. The diamond came from Botswana’s Orapa mine and is the largest of its kind found in the country to date. The Okavango Blue was named after Botswana’s Okavango Delta, a UNESCO World Heritage Site of global importance for biological conservation and diversity. It’s the first time the diamond is on view to the public and sits at the center of a larger presentation about diamonds from Botswana, exploring industrial uses for diamonds and how Botswana runs its diamond industry as well as educating about the different characteristics of diamonds like size, shape, color, and quality. Botswana is the second-largest producer of natural diamonds in the world, behind Russia. Previous
The Okavango Blue Diamond, pictured here in the center display
Next “Our natural diamond resources are managed responsibly in a manner that puts the people of Botswana first,” said Okavango Diamond Company Managing Director Mmetla Masire. “There is a strong sense of local pride knowing that these diamonds are improving the lives of Batswana, with profits directly reinvested in education, infrastructure, and public health. “We are so pleased to share with the world the larger story of the diamond industry of Botswana. The Okavango Blue is not just an ordinary 3-billion-year-old polished carbon element, but rather a physical embodiment of the passing of time, a fragment of eternity. Our diamonds tell the rich history and unique journey of Botswana’s development.” The exhibition sits in the Melissa and Keith Meister Gallery in the museum’s new Allison and Roberto Mignone Halls of Gems and Minerals, which reopened in June after a major renovation. The Okavango Blue and its corresponding Botswana diamonds exhibition will run for six months, AMNH confirmed.
The public can now feast their eyes on a big blue diamond thanks to New York’s American Museum of Natural History. The museum opened an exhibition Tuesday showcasing the “Okavango Blue,” a 20.46-carat oval-cut fancy deep blue diamond on loan from Okavango Diamond Company, which is wholly owned by the government of Botswana.
It has been given a VVS1 clarity grade from GIA. The diamond came from Botswana’s Orapa mine and is the largest of its kind found in the country to date. The Okavango Blue was named after Botswana’s Okavango Delta, a UNESCO World Heritage Site of global importance for biological conservation and diversity. It’s the first time the diamond is on view to the public and sits at the center of a larger presentation about diamonds from Botswana, exploring industrial uses for diamonds and how Botswana runs its diamond industry as well as educating about the different characteristics of diamonds like size, shape, color, and quality. Botswana is the second-largest producer of natural diamonds in the world, behind Russia. Previous
The Okavango Blue Diamond, pictured here in the center display
Next “Our natural diamond resources are managed responsibly in a manner that puts the people of Botswana first,” said Okavango Diamond Company Managing Director Mmetla Masire. “There is a strong sense of local pride knowing that these diamonds are improving the lives of Batswana, with profits directly reinvested in education, infrastructure, and public health. “We are so pleased to share with the world the larger story of the diamond industry of Botswana. The Okavango Blue is not just an ordinary 3-billion-year-old polished carbon element, but rather a physical embodiment of the passing of time, a fragment of eternity. Our diamonds tell the rich history and unique journey of Botswana’s development.” The exhibition sits in the Melissa and Keith Meister Gallery in the museum’s new Allison and Roberto Mignone Halls of Gems and Minerals, which reopened in June after a major renovation. The Okavango Blue and its corresponding Botswana diamonds exhibition will run for six months, AMNH confirmed.
Botswana’s state run Okavango Diamond Company unveiled on Wednesday what is believed to be the largest blue diamond ever discovered in the southern African country, which is one of the world’s top producers.
The 20.46 carat, oval-shape fancy precious rock has been named “The Okavango Blue” in honour of the Okavango Delta, the country’s wildlife rich world heritage site.
From all coloured diamonds, blue stones are the most unusual and so the miner says its find is one of the rarest in the world.
“It is incredibly unusual for a stone of this colour and nature to have come from Botswana a once in lifetime find, which is about as rare as a star in the Milky Way,” Okavango Diamond Company managing director Marcus ter Haar said in a statement.
“It sits in the very top bracket of all time historical blue diamond finds especially because only a very small percentage of the world’s diamonds are classified as fancy colour,” he noted, adding the company expects to sell the stone by the end of the year.
In 2016, a massive intense blue diamond, known as The Cullinan Dream, sold for $25.4 million at a Christie’s auction in New York, breaking all records and becoming the most expensive gem of its kind ever sold at auction. Last year, a 6.16 carat blue diamond, secretly passed down through European royalty over three centuries, fetched $6.7 million at a Sotheby’s auction in Geneva $1.4 million more than what experts expected it to be sold for.
Arguably, the most famous is the Hope Diamond, also known as Le Bijou du Roi “the King’s Jewel”, Le bleu de France “France’s Blue”, and the Tavernier Blue. The massive, 45.52 carat, deep blue diamond is now kept at the U.S. National Museum of Natural History in Washington, D.C.
Botswana, which was overtaken by Russia as the world’s top diamond producing country in 2014, is grappling with aging mines, as well as power and water shortages.
Still, diamonds are the country’s main source of income and account for about 80% of its exports.
The nation is home to some of the world’s most prolific diamond mines, including Lucara Diamond’s Karowe operation, where the now famous Lesedi la Rona, the second-largest gem-quality diamond to ever be found, was unearthed in 2016.
Botswana’s state run Okavango Diamond Company unveiled on Wednesday
what is believed to be the largest blue diamond ever discovered in the
southern African country, which is one of the world’s top producers.
The 20.46 carat, oval-shape fancy precious rock has been named “The
Okavango Blue” in honour of the Okavango Delta, the country’s wildlife
rich world heritage site.
From all coloured diamonds, blue stones are the most unusual and so the miner says its find is one of the rarest in the world.
“It is incredibly unusual for a stone of this colour and nature to
have come from Botswana a once in lifetime find, which is about as rare
as a star in the Milky Way,” Okavango Diamond Company managing director
Marcus ter Haar said in a statement.
“It sits in the very top bracket of all time historical blue diamond
finds especially because only a very small percentage of the world’s
diamonds are classified as fancy colour,” he noted, adding the company
expects to sell the stone by the end of the year.
In 2016, a massive intense blue diamond, known as The Cullinan Dream,
sold for $25.4 million at a Christie’s auction in New York, breaking
all records and becoming the most expensive gem of its kind ever sold at
auction.
Last year, a 6.16 carat blue diamond, secretly passed down through
European royalty over three centuries, fetched $6.7 million at a
Sotheby’s auction in Geneva $1.4 million more than what experts
expected it to be sold for.
Arguably, the most famous is the Hope Diamond, also known as Le Bijou
du Roi “the King’s Jewel”, Le bleu de France “France’s Blue”, and the
Tavernier Blue. The massive, 45.52 carat, deep blue diamond is now kept
at the U.S. National Museum of Natural History in Washington, D.C.
Botswana, which was overtaken by Russia as the world’s top diamond
producing country in 2014, is grappling with aging mines, as well as
power and water shortages.
Still, diamonds are the country’s main source of income and account for about 80% of its exports.
The nation is home to some of the world’s most prolific diamond
mines, including Lucara Diamond’s Karowe operation, where the now famous
Lesedi la Rona, the second-largest gem-quality diamond to ever be
found, was unearthed in 2016.
