130 carat gem quality diamond recovered at Lulo

The 130 carat diamond is the 13th +100 carat diamond recovered to date and the second recovered so far in 2019.

This recovery, together with the continued recovery of other large special white and fancy coloured diamonds continues to highlight the very special nature of the Lulo diamond concession.

The 130 carat diamond adds to the current inventory of high-value large Special run-of-mine diamonds, including top colour white diamonds, weighing 128 carats and 62 carats, as well as a number of fancy pink coloured diamonds.

The majority of the diamond inventory is scheduled for sale this quarter by the alluvial mining company, Sociedade Mineira Do Lulo, however, some diamonds may be extracted and held for tender at a later date.

Lucapa is a growing diamond company with high-value mines in Angola and Lesotho, along with exploration projects in Angola, Australia and Botswana.

Lucapa’s vision is to become a leading producer of large and premium-quality diamonds – from both alluvial and kimberlite sources – in Africa and other known diamond provinces around the world.

The company’s focus on high-value diamond production is designed to protect cash flows in a sector of the diamond market where demand and prices remain robust.

Lucapa’s flagship asset is the Lulo diamond project in Angola, which is a prolific producer of large and premium-value alluvial diamonds.

Lulo has produced 13 +100ct diamonds to date and is the highest average US$ per carat alluvial diamond production in the world.

Lucapa and its Lulo partners continue to advance their search for the primary kimberlite sources of these exceptional alluvial gems through a systematic drilling and exploration program.

Lucapa commenced commercial diamond recoveries in January 2019 at the company’s second high value mine, the 1.1 Mtpa Mothae kimberlite mine in diamond-rich Lesotho and has already recovered five +50 carat diamonds in its own sampling and commercial mining operations.

Lucapa also has early stage exploration projects at Brooking in Western Australia and Orapa Area F in Botswana.

Lucapa’s Board and managements team have decades of diamond industry experience across the globe with companies including De Beers and Gem Diamonds.

Source: DCLA

130 carat gem quality diamond recovered at Lulo

The 130 carat diamond is the 13th +100 carat diamond recovered to date and the second recovered so far in 2019.

This recovery, together with the continued recovery of other large special white and fancy coloured diamonds continues to highlight the very special nature of the Lulo diamond concession.

The 130 carat diamond adds to the current inventory of high-value large Special run-of-mine diamonds, including top colour white diamonds, weighing 128 carats and 62 carats, as well as a number of fancy pink coloured diamonds.

The majority of the diamond inventory is scheduled for sale this quarter by the alluvial mining company, Sociedade Mineira Do Lulo, however, some diamonds may be extracted and held for tender at a later date.

Lucapa is a growing diamond company with high-value mines in Angola and Lesotho, along with exploration projects in Angola, Australia and Botswana.

Lucapa’s vision is to become a leading producer of large and premium-quality diamonds – from both alluvial and kimberlite sources – in Africa and other known diamond provinces around the world.

The company’s focus on high-value diamond production is designed to protect cash flows in a sector of the diamond market where demand and prices remain robust.

Lucapa’s flagship asset is the Lulo diamond project in Angola, which is a prolific producer of large and premium-value alluvial diamonds.

Lulo has produced 13 +100ct diamonds to date and is the highest average US$ per carat alluvial diamond production in the world.

Lucapa and its Lulo partners continue to advance their search for the primary kimberlite sources of these exceptional alluvial gems through a systematic drilling and exploration program.

Lucapa commenced commercial diamond recoveries in January 2019 at the company’s second high value mine, the 1.1 Mtpa Mothae kimberlite mine in diamond-rich Lesotho and has already recovered five +50 carat diamonds in its own sampling and commercial mining operations.

Lucapa also has early stage exploration projects at Brooking in Western Australia and Orapa Area F in Botswana.

Lucapa’s Board and managements team have decades of diamond industry experience across the globe with companies including De Beers and Gem Diamonds.

Source: DCLA

11 Carat Purple Diamond Expected to Fetch Over $10M

Hong Kong based M&B Diamonds expects to sell a record setting purple diamond for more than $10 million, after buying the stone from Alrosa.

The cushion modified brilliant cut, 11.06 carat diamond is the largest fancy deep purple pink stone the Gemological Institute of America (GIA) has examined, according to the August 2018 grading report.

Alrosa originally debuted the gem as part of its “True Colour” collection in September at the Hong Kong Jewellery & Gem Fair. M&B bought it at tender in Moscow about two months ago, Roi Sheinfeld, owner of M&B Diamonds, told Rapaport News Wednesday.

M&B will preview the stone to customers by appointment only at its M&B Private Jewelers retail shops in Hong Kong and Singapore. While Sheinfeld chose not to reveal the stone’s purchase price, he expects the sale to yield more than $10 million, depending on the design.

“As it’s one of a kind…we will exhibit it as [a] polished loose diamond,” Sheinfeld added. “The client who buys it will have the privilege of sitting with our design team and creating a one of a kind bespoke piece.”

Source: DCLA

11 Carat Purple Diamond Expected to Fetch Over $10M

Hong Kong based M&B Diamonds expects to sell a record setting purple diamond for more than $10 million, after buying the stone from Alrosa.

The cushion modified brilliant cut, 11.06 carat diamond is the largest fancy deep purple pink stone the Gemological Institute of America (GIA) has examined, according to the August 2018 grading report.

Alrosa originally debuted the gem as part of its “True Colour” collection in September at the Hong Kong Jewellery & Gem Fair. M&B bought it at tender in Moscow about two months ago, Roi Sheinfeld, owner of M&B Diamonds, told Rapaport News Wednesday.

M&B will preview the stone to customers by appointment only at its M&B Private Jewelers retail shops in Hong Kong and Singapore. While Sheinfeld chose not to reveal the stone’s purchase price, he expects the sale to yield more than $10 million, depending on the design.

“As it’s one of a kind…we will exhibit it as [a] polished loose diamond,” Sheinfeld added. “The client who buys it will have the privilege of sitting with our design team and creating a one of a kind bespoke piece.”

Source: DCLA

Miner Petra Diamonds sells its 425 carat legacy diamond

Petra Diamonds said on Tuesday it sold its 425-carat ‘Legacy of the Cullinan Diamond Mine’ diamond to Belgium-based Stargems Group for $15 million.

The miner, which recovered the diamond at its flagship Cullinan mine in March, said the sale was significant for the company.

Petra has been struggling to clear its multi-million-dollar debts after it borrowed heavily to revamp the Cullinan facility and began mining a new section of ore last July.

However, Cullinan has been profitable every year since Petra acquired it in 2008 and the mine is expected to generate free cash flow this year.

Source: DCLA

Miner Petra Diamonds sells its 425 carat legacy diamond

Petra Diamonds said on Tuesday it sold its 425-carat ‘Legacy of the Cullinan Diamond Mine’ diamond to Belgium-based Stargems Group for $15 million.

The miner, which recovered the diamond at its flagship Cullinan mine in March, said the sale was significant for the company.

Petra has been struggling to clear its multi-million-dollar debts after it borrowed heavily to revamp the Cullinan facility and began mining a new section of ore last July.

However, Cullinan has been profitable every year since Petra acquired it in 2008 and the mine is expected to generate free cash flow this year.

Source: DCLA

Cartier Sues Alleged Counterfeiter

Cartier and Van Cleef & Arpels have filed a lawsuit against a Florida jeweler, claiming willful infringement on a number of the luxury jewelers’ famous trademarked collections.

Scott King Inc., registered for business as Florida Diamond Brokers and King Jewelers, allegedly sold imitations of jewelry belonging to the Richemont-owned divisions, the May 6 suit, filed in the US District Court of Florida, claims.

In November 2018, an agent of Cartier and Van Cleef visited King Jewelers, and noticed the store was selling counterfeit copies of the jewelers’ pieces. Those imitations included Van Cleef’s Alhambra and Perlée collections, as well as Cartier’s Love and Juste un Clou collections, engraved with the brands’ trademarked name, the suit claims. The prices for the items ranged from $900 to $1,125 for earrings, and more than $6,000 for bracelets, a similar range to Cartier and Van Cleef’s own prices.

The agent returned to the store the following month, and again in February, according to the lawsuit. During the first visit, employees of King Jewelers allegedly informed the agent that the jewelry was not authentic Van Cleef and Cartier pieces, but rather “inspiration” jewels made to look like them. An employee also said the products were not listed in the store’s catalogues because they “don’t want to get in trouble.”

Cartier and Van Cleef are asking the court to order King Jewelers to turn over all its counterfeit jewelry to them for destruction, and to recall any pieces it has distributed to retailers and other customers. They are also suing for the total amount of profits King Jewelers has made from all sales of the copied pieces, plus up to $2 million per counterfeited collection and per each jewelry category (bracelets, rings, etc.) within those collections.

Source: DCLA