Zimbabwe Holds Diamond Auction for 316,000 Carats

Zimbabwe’s state owned Minerals Marketing Corporation opened a 316,000 carat diamond auction, which will close at the end of the week an official said.

“This is the third auction we have conducted this year as there were some administrative issues which were taking place within the organization,” MMCZ’s General Manager Tongai Muzenda said by phone on Wednesday. The last auction was held in July.

The auction, which began on Sept. 9 and will close on Sept. 13, has attracted buying interest from Belgium, Dubai, India, Israel and South Africa, but Muzenda declined to name the companies bidding, citing confidentiality.

Zimbabwe expects to produce 4.1 million carats of diamonds this year, up from 2.8 carats in 2018. At the peak of production in 2012, the southern African country’s output was 12 million carats.

Source: DCLA

Zimbabwe Holds Diamond Auction for 316,000 Carats

Zimbabwe’s state owned Minerals Marketing Corporation opened a 316,000 carat diamond auction, which will close at the end of the week an official said.

“This is the third auction we have conducted this year as there were some administrative issues which were taking place within the organization,” MMCZ’s General Manager Tongai Muzenda said by phone on Wednesday. The last auction was held in July.

The auction, which began on Sept. 9 and will close on Sept. 13, has attracted buying interest from Belgium, Dubai, India, Israel and South Africa, but Muzenda declined to name the companies bidding, citing confidentiality.

Zimbabwe expects to produce 4.1 million carats of diamonds this year, up from 2.8 carats in 2018. At the peak of production in 2012, the southern African country’s output was 12 million carats.

Source: DCLA

Rio Tinto launches new collection of rare Argyle pink diamonds

Rio Tinto has launched a new collection of rare pink diamonds from its Argyle diamond mine in the east Kimberley region of Western Australia.

Known as the “Argyle Pink Everlastings™ Collection”, this beautiful offering has been curated to showcase the full colour palette of Argyle pink diamonds, weighing 0.14 carats and below.

The Argyle Pink Everlastings™ Collection comprises 64 lots and weighing a total of 211.21carats it represents justtwo per cent of the Argyle pink diamond annual production. It is expected that less than 100 carats of the equivalent profile will be produced by the mine prior to closure in 2020.

Argyle Pink Everlasting Collection

Jewellery historian Vivienne Becker said “ The Everlastings Collection™, representing one of the last offerings of its kind from the Argyle mine, will feed the unstoppable demand from designers and jewellers who appreciate the finite raity of these beautiful gems”.

Encapsulating a rich history and an extraordinary provenance, every lot in the Argyle Pink Everlastings™ Collection is accompanied by a Certificate of Authenticity.

Rio Tinto Copper & Diamonds vice president of sales and marketing Mr Alan Chirgwin said “ We are delighted to offer for the first time ever this unique collection of rare Argyle pink diamonds, destined to be in strong demand by the world’s finest jewellers.

“The accumulation of these diamonds from a certifiable source in various shapes, sizes and colours is the result of a painstaking endeavour, unlikely to be ever repeated.”

The Argyle Pink Everlastings™ Collection will be tendered alongside the annual Argyle Pink Diamonds Tender in Perth, Singapore, London and New York with bids closing on 9 October 2019.

Source: DCLA

Rio Tinto launches new collection of rare Argyle pink diamonds

Rio Tinto has launched a new collection of rare pink diamonds from its Argyle diamond mine in the east Kimberley region of Western Australia.

Known as the “Argyle Pink Everlastings™ Collection”, this beautiful offering has been curated to showcase the full colour palette of Argyle pink diamonds, weighing 0.14 carats and below.

The Argyle Pink Everlastings™ Collection comprises 64 lots and weighing a total of 211.21carats it represents justtwo per cent of the Argyle pink diamond annual production. It is expected that less than 100 carats of the equivalent profile will be produced by the mine prior to closure in 2020.

Argyle Pink Everlasting Collection

Jewellery historian Vivienne Becker said “ The Everlastings Collection™, representing one of the last offerings of its kind from the Argyle mine, will feed the unstoppable demand from designers and jewellers who appreciate the finite raity of these beautiful gems”.

Encapsulating a rich history and an extraordinary provenance, every lot in the Argyle Pink Everlastings™ Collection is accompanied by a Certificate of Authenticity.

Rio Tinto Copper & Diamonds vice president of sales and marketing Mr Alan Chirgwin said “ We are delighted to offer for the first time ever this unique collection of rare Argyle pink diamonds, destined to be in strong demand by the world’s finest jewellers.

“The accumulation of these diamonds from a certifiable source in various shapes, sizes and colours is the result of a painstaking endeavour, unlikely to be ever repeated.”

The Argyle Pink Everlastings™ Collection will be tendered alongside the annual Argyle Pink Diamonds Tender in Perth, Singapore, London and New York with bids closing on 9 October 2019.

Source: DCLA

Stornoway Diamond granted creditor protection

Stornoway Diamond Corp. of Montreal has been granted protection under the Companies’ Creditors Arrangement Act from the Superior Court of Quebec while the company restructures its business and financial affairs.

Protection is extended to subsidiaries Stornoway Diamonds Canada, Ashton Mining of Canada, and FCDC Sales and Marketing.

Stornoway has signed a letter of intent with creditors Osisko Gold Royalties and Diaquem, a wholly owned subsidiary of Ressources Quebec, concerning a bridge financing agreement entered into in June this year. The LOI confirms that the creditors intend to acquire all of the assets and properties of Stornoway and assume the debts and liabilities owed them as creditors. Stornoway will continue to be the operator of the mine 320 km north of Chibougamau in the James Bay region.

Osisko says that under the terms of the bridge loan, It will retain its 9.6% diamond stream on the Renard mine and continue to receive diamond deliveries. The proceeds of any diamond sales will be reinvested in the mine for a period of one year.

Osisko and certain of the secured creditors have also agreed to supply an initial C$20 million of working capital to Stornoway. The working capital is intended to keep the mine operating without interruption.

Source: DCLA

Stornoway Diamond granted creditor protection

Stornoway Diamond Corp. of Montreal has been granted protection under the Companies’ Creditors Arrangement Act from the Superior Court of Quebec while the company restructures its business and financial affairs.

Protection is extended to subsidiaries Stornoway Diamonds Canada, Ashton Mining of Canada, and FCDC Sales and Marketing.

Stornoway has signed a letter of intent with creditors Osisko Gold Royalties and Diaquem, a wholly owned subsidiary of Ressources Quebec, concerning a bridge financing agreement entered into in June this year. The LOI confirms that the creditors intend to acquire all of the assets and properties of Stornoway and assume the debts and liabilities owed them as creditors. Stornoway will continue to be the operator of the mine 320 km north of Chibougamau in the James Bay region.

Osisko says that under the terms of the bridge loan, It will retain its 9.6% diamond stream on the Renard mine and continue to receive diamond deliveries. The proceeds of any diamond sales will be reinvested in the mine for a period of one year.

Osisko and certain of the secured creditors have also agreed to supply an initial C$20 million of working capital to Stornoway. The working capital is intended to keep the mine operating without interruption.

Source: DCLA

Sotheby’s to Sell 81ct. Flawless Diamond

A flawless white diamond with a high estimate of $19 million will feature in Sotheby’s Magnificent Jewels and Jadeite auction in Hong Kong next months.

The emerald cut, 80.88 carat, D color, type IIa stone is valued at $12.8 million to $19.1 million USD, and is one of only five emerald cut diamonds over 80 carats offered in auction history, Sotheby’s said Monday.

A 10.64 carat, fancy vivid purplish pink, internally flawless diamond, polished as a radiant cut, with the outline of an emerald cut, is set to go under the hammer at the October 7 sale for $19.1 million to $25.5 million. The auction house will also feature a necklace by designer Anna Hu, containing a 100.02-carat, fancy intense yellow diamond, estimated at $5.1 million to $6.4 million.

“It is thrilling to be able to bring together three top class diamonds this autumn, all of which are exceptional in quality and rarely seen on the market, let alone presented in a single sale,” said Yvonne Chu, acting head of Sotheby’s Hong Kong jewelry division. “We are set for a bright season ahead.”

Also up for auction are an 11.88 carat, pigeon’s blood Burmese ruby and diamond ring, mounted by designer Raymond Yard and valued at $5.6 million to $8.2 million, and a jadeite bead necklace with a diamond clasp, estimated at $3.2 million to $4.1 million.

Other notable items include a 19th century 37.29 carat sapphire and diamond brooch. The piece, which Richard Burton gave to Elizabeth Taylor during their marriage, has a presale estimate of $1.7 million to $2.3 million.

Sotheby’s will showcase the pieces throughout Asia before the auction.

Source: DCLA