Graff Acquires 20.69-Carat ‘Firebird’ Diamond From Alrosa

Gr

Before the 2010s decade came to an end, Laurence Graff, the founder of the luxury jewelry and gem brand that bears his name, had one more deal to make with the acquisition of a 20.69-carat fancy yellow diamond named the “Firebird.”

The Asscher-cut diamond with VS1 clarity and “excellent polish and symmetry,” according to the report from the Gemological Institute of America, was purchased from Russian mining giant, Alrosa, the world’s largest diamond miner by volume.

“We are delighted to see that such a beautiful exceptional diamond has found an equally exceptional owner,” Sergey Ivanov, Alrosa CEO, said in a statement making the announcement December 24. “It is more than just a regular deal for Alrosa. This is the first direct purchase of Graff made without intermediaries, and we hope that it will be the beginning of a new phase of our work.”

The diamond was cut and polished at Alrosa’s recently opened manufacturing facility. The company says the yellow gem resembles “a simultaneous ensemble of flame, reflections of sunlight on crystal water and a trail of sparkles coming from the tail of a Firebird.”

Alrosa says the diamond is a part of “The Spectacle,” a diamond collection dedicated to the Russian ballet. There are two more diamonds in the collection, one of them is “Spirit of the Rose,” a 14.8 ct fancy vivid purple-pink stone unveiled in August. Another diamond will be announced later this year when cutting and polishing is finished.

The diamond is named after the legendary ballet “Firebird,” which premiered in 1910 at the Grand Opera in Paris. The ballet was the first of Sergei Diaghilev’s Ballets Russes productions to have an all-original score. It had the idea of creating a “national ballet” driven by the popularity of Russian folk songs and dances among the French public. The plot is based on the Russian fairytale of the Firebird and the blessing and curse it possesses for its owner. The music was composed by the Igor Stravinsky, the famed Russian composer.

The Firebird diamond was created from a 34.17 ct rough diamond named “Stravinsky,” that bears both rare honey-yellow overtones and exceptional clarity, according to Alrosa. Discovered at the “Ebelyah” mine in Yakutia, the gem became the largest yellow rough diamond extracted in Russia in 2017. It was defined by its naturally-occurring shape, smooth structure and, most certainly, by its incredible intensity and homogeneity of color.

For Graff, based in London, the purchase caps another year of notable acquisitions and unveilings, led by the April reveal of the “Graff Lesedi La Rona,” a 302.37-carat D-color, high-clarity stone that the brand says is the “world’s largest square emerald cut diamond” and the “largest highest clarity, highest color diamond ever graded by the Gemological Institute of America (GIA).” It is the main diamond cut and polished from the 1,109-carat Lesedi La Rona rough, which was purchased in 2017 by Laurence Graff. In addition to the main diamond, 66 “satellite” diamonds have been polished from the rough, ranging in size from under a carat to more than 26 carats.

Source: DCLA

Graff Acquires 20.69-Carat ‘Firebird’ Diamond From Alrosa

Gr

Before the 2010s decade came to an end, Laurence Graff, the founder of the luxury jewelry and gem brand that bears his name, had one more deal to make with the acquisition of a 20.69-carat fancy yellow diamond named the “Firebird.”

The Asscher-cut diamond with VS1 clarity and “excellent polish and symmetry,” according to the report from the Gemological Institute of America, was purchased from Russian mining giant, Alrosa, the world’s largest diamond miner by volume.

“We are delighted to see that such a beautiful exceptional diamond has found an equally exceptional owner,” Sergey Ivanov, Alrosa CEO, said in a statement making the announcement December 24. “It is more than just a regular deal for Alrosa. This is the first direct purchase of Graff made without intermediaries, and we hope that it will be the beginning of a new phase of our work.”

The diamond was cut and polished at Alrosa’s recently opened manufacturing facility. The company says the yellow gem resembles “a simultaneous ensemble of flame, reflections of sunlight on crystal water and a trail of sparkles coming from the tail of a Firebird.”

Alrosa says the diamond is a part of “The Spectacle,” a diamond collection dedicated to the Russian ballet. There are two more diamonds in the collection, one of them is “Spirit of the Rose,” a 14.8 ct fancy vivid purple-pink stone unveiled in August. Another diamond will be announced later this year when cutting and polishing is finished.

The diamond is named after the legendary ballet “Firebird,” which premiered in 1910 at the Grand Opera in Paris. The ballet was the first of Sergei Diaghilev’s Ballets Russes productions to have an all-original score. It had the idea of creating a “national ballet” driven by the popularity of Russian folk songs and dances among the French public. The plot is based on the Russian fairytale of the Firebird and the blessing and curse it possesses for its owner. The music was composed by the Igor Stravinsky, the famed Russian composer.

The Firebird diamond was created from a 34.17 ct rough diamond named “Stravinsky,” that bears both rare honey-yellow overtones and exceptional clarity, according to Alrosa. Discovered at the “Ebelyah” mine in Yakutia, the gem became the largest yellow rough diamond extracted in Russia in 2017. It was defined by its naturally-occurring shape, smooth structure and, most certainly, by its incredible intensity and homogeneity of color.

For Graff, based in London, the purchase caps another year of notable acquisitions and unveilings, led by the April reveal of the “Graff Lesedi La Rona,” a 302.37-carat D-color, high-clarity stone that the brand says is the “world’s largest square emerald cut diamond” and the “largest highest clarity, highest color diamond ever graded by the Gemological Institute of America (GIA).” It is the main diamond cut and polished from the 1,109-carat Lesedi La Rona rough, which was purchased in 2017 by Laurence Graff. In addition to the main diamond, 66 “satellite” diamonds have been polished from the rough, ranging in size from under a carat to more than 26 carats.

Source: DCLA

Gibb River Diamonds secures Ellendale Diamond Mine leases

The Western Australian government has invited Gibb River Diamonds and India Bore Diamond Holdings to mine at the Ellendale deposit.

The companies will pay rental fees on the areas in which they set up operations, rather than owning that portion of the site outright, the Department of Mines, Industry Regulation and Safety (DMIRS), told Rapaport News last week.

Although DMIRS has already conducted a recent geological exploration of the area to confirm there are still diamond prospects, both companies will need to explore the area further, speak with key stakeholders in the region, and develop mining plans for approval by the state government.

“It’s not going to happen overnight, but restarting mining operations at the former Ellendale mine will be a high point in the rejuvenation of diamond exploration and mining in the Kimberley [region of Western Australia],” Mines and Petroleum Minister Bill Johnston noted.

Gibb and Indian Bore will take on Ellendale’s E4 and E9 pits, and will also have access to storage facilities and infrastructure that belonged to previous Ellendale owner Kimberley Diamond Company before it went into administration in 2015. Since then, the government has been managing the property through its abandoned-mines program. Last year, it announced it was seeking expressions of interest in the site.

Ellendale produced around half of the world’s supply of rare yellow diamonds during peak production, and was also the main supplier of fancy-yellow diamonds for luxury-jewelry retailer Tiffany & Co.

Gibb recently purchased the Blina diamond project, which is adjacent to Ellendale. It is waiting on a final investment of AUD 2.5 million ($1.7 million) to begin mining the area. India Bore is a private company, established in 2015 by CEO Peter McNally, a mining executive with over 35 years of experience.

Source: DCLA

Gibb River Diamonds secures Ellendale Diamond Mine leases

The Western Australian government has invited Gibb River Diamonds and India Bore Diamond Holdings to mine at the Ellendale deposit.

The companies will pay rental fees on the areas in which they set up operations, rather than owning that portion of the site outright, the Department of Mines, Industry Regulation and Safety (DMIRS), told Rapaport News last week.

Although DMIRS has already conducted a recent geological exploration of the area to confirm there are still diamond prospects, both companies will need to explore the area further, speak with key stakeholders in the region, and develop mining plans for approval by the state government.

“It’s not going to happen overnight, but restarting mining operations at the former Ellendale mine will be a high point in the rejuvenation of diamond exploration and mining in the Kimberley [region of Western Australia],” Mines and Petroleum Minister Bill Johnston noted.

Gibb and Indian Bore will take on Ellendale’s E4 and E9 pits, and will also have access to storage facilities and infrastructure that belonged to previous Ellendale owner Kimberley Diamond Company before it went into administration in 2015. Since then, the government has been managing the property through its abandoned-mines program. Last year, it announced it was seeking expressions of interest in the site.

Ellendale produced around half of the world’s supply of rare yellow diamonds during peak production, and was also the main supplier of fancy-yellow diamonds for luxury-jewelry retailer Tiffany & Co.

Gibb recently purchased the Blina diamond project, which is adjacent to Ellendale. It is waiting on a final investment of AUD 2.5 million ($1.7 million) to begin mining the area. India Bore is a private company, established in 2015 by CEO Peter McNally, a mining executive with over 35 years of experience.

Source: DCLA

Most Expensive Coloured Diamonds

Blue

The 9.75 carat Zoe Diamond which sold for more than $32 million.

Zoe Diamond

Green

5.03 carats Aurora Green sold for $16.8 million

Aurora Green

Orange

14.82 carat pear shaped Orange diamond sold for more than $35 million.

The Orange

Red

The 1.56 carat Fancy Red Phoenix diamond sold for $2 million

Phoenix diamond

Pink

59.60 carat Pink Star $71.2 million

Pink Star

Yellow

Vivid Yellow 100.09 carat sold for $16.3 million.

Graff Vivid Yellow

Source: DCLA

Most Expensive Coloured Diamonds

Blue

The 9.75 carat Zoe Diamond which sold for more than $32 million.

Zoe Diamond

Green

5.03 carats Aurora Green sold for $16.8 million

Aurora Green

Orange

14.82 carat pear shaped Orange diamond sold for more than $35 million.

The Orange

Red

The 1.56 carat Fancy Red Phoenix diamond sold for $2 million

Phoenix diamond

Pink

59.60 carat Pink Star $71.2 million

Pink Star

Yellow

Vivid Yellow 100.09 carat sold for $16.3 million.

Graff Vivid Yellow

Source: DCLA

De Beers Issues Synthetics Guidelines

De Beers has provided its rough-diamond clients and Forevermark partners with guidelines on how to operate in the lab-grown market if they wish to continue tapping into its branding.

The mining company, which in 2018 forayed into gem-quality synthetics with the launch of its Lightbox brand, is demanding businesses make full disclosure about their product, segregate synthetics from their natural supply, and do not make unproven claims about either category. The “Statement of Principles” outlines the legal structures companies with lab-grown diamond units must have if they wish to use the sightholder logo, as well as the procedures and training they are required to implement to avoid contamination or misleading marketing.

While De Beers already had rules mandating disclosure and other best practices, the new principles “ensure there is no room for doubt” about how clients may use the sightholder logo, explained David Johnson, head of strategic communications for De Beers. Some of the rules form part of De Beers’ contract with clients, allowing the miner to penalize those who flout them, while others are only recommendations.

“We believe the principles within the document set out a responsible approach, and that they are important for ensuring people can make clear and informed choices about what they are buying,” Johnson added.

The document refers to lab-grown diamonds as “artificial” products that “do not have the same inherent, naturally occurring characteristics or enduring value” as natural diamonds. The miner continues to define diamonds as a natural mineral in line with the International Organization for Standardization (ISO).

De Beers sent the guidelines to clients earlier this month, as numerous sightholders have launched lab-grown businesses under separate entities and trading names.
The following is a summary of the guidelines:

• De Beers customers may only use the sightholder license — including displaying the sightholder logo — for business entities that are exclusively natural-diamond businesses. Entities with both natural and lab-grown activities may not use the logo.
• The miner recommends setting up distinct and independent businesses for any lab-grown diamond activities, with separate systems, processes and workforces.
• The rules prohibit “false, misleading or unsubstantiated” claims about the enduring value of lab-grown diamonds, whether directed at other businesses or at consumers. They cannot state or imply that lab-grown diamonds have the “identical inherent value characteristics” as natural diamonds.
• Similarly, unproven claims about the environmental benefits or ethical advantage of lab-grown diamonds over natural ones are forbidden.
• Sellers must provide the buyer with full and unambiguous disclosure before the transaction is complete.
• They’re also required to ensure segregation at all stages of the supply process, such as storage, cutting and polishing, packaging, and transportation. Ideally, suppliers should handle natural and lab-grown stones in separate sites.
• De Beers customers must “take steps” to ensure full disclosure and segregation further along the supply chain, down to the consumer.
• Clients must have protocols to identify and mitigate contamination risks, and train staff members on the “operational, commercial and reputational impacts” of lab-grown diamonds.
• Preferably, companies should disclose the countries in which the synthetic diamond was grown, polished and made into jewelry, as well as the identity of the grower. De Beers says businesses should “strive” to declare this, though it’s not an absolute requirement.
• Grading language must contain words that make it clear a stone is lab-grown.
• Customers must follow relevant laws, regulations and best practices, such as the standards that the US Federal Trade Commission (FTC) and the ISO have published.

Source: DCLA