Botswana Has the World’s Two Richest Diamond Mines

 

                 Diamond mine, in Botswana

A new list names the Jwaneng diamond mine, in Botswana, as the world’s richest diamond mine.

A new list by miningintelligence.com, quoted by IDEX Online, names the Jwaneng diamond mine, in Botswana, as the world’s richest diamond mine for the first three quarters of 2022. Jwaneng produced 10.3 million carats in 2022.

Orapa, also in Botswana, came second with 8 million carats. Both Jwaneng and Orapa are operated by Debswana, a partnership between De Beers and the government of Botswana. Jwaneng and Orapa were also listed as the two highest value diamond mines in the world, estimated at $1.25 billion and $976 million respectively, “based on average historic annualized prices of $121.5 per carat,” according to the report.

Alrrosa’s Udachny mine came third. Although Alrosa has not published production figures since the war with Ukraine, miningintelligence.com bases its conclusion on the mine’s 2021 production of 4.6 million carats. Fourth comes the Venetia mine in South Africa 4.6m carats, operated by De Beers. In fifth is Nyurba, in Russia, with 3.6 million carats, based on 2021 numbers.

Source: israelidiamond

Glistening watch breaks record with 17,524 diamonds

 

          Watch breaks record with 17,524 diamonds

Renani Jewels (India) has broken the dazzling Guinness World Records title for the most diamonds set on a watch in Meerut, India as verified on 29 December 2022.

The construction of this sparkly piece of jewellery started with hand drawn sketches to work out the design of the watch.

After the initial design was finalized, it was recreated in 3D as a computer-aided-design (CAD) and then printed.

All the diamonds were then meticulously placed onto the watch and it took five different forms of polishing to give it the desired look.

The watch is named Srinkia – the watch of good fortunes. Inspired by ancient Indian mythology, Srinkia means flower.

According to founder and CEO Harshit Bansal, it also signifies the Indian goddess of wealth and good fortunes – Lakshmi.

The end watch has 17,512 white diamonds and 12 black diamonds.

This beat the previous record set by Aaron Shum Jewelry Ltd. (Hong Kong) with 15,858 diamonds back in December 2018.

These diamonds were authenticated by an International Gemological Institute Lab (IGI) certificate to determine that actual diamonds were used.

The main challenge faced by Renani Jewels was the procurement of a huge quantity of diamonds with the same colour, size, shape and clarity.

To verify the record, each individual diamond had to be counted in the presence of a jewellery and diamond expert.

In accordance with GWR’s guidelines, the diamond had to be sourced from producers that are certified by the Kimberley Process Certification Scheme (KPCS), which prevents “conflict” diamonds from entering the mainstream market.

The end watch weighs 373.30 grams and is completely wearable.

Diamond records have proved popular in India, with the most diamonds set on a ring being broken by SWA Diamonds last May.

Source: guinnessworldrecords

Tanzania Reports Record $63 Million in Diamond Exports Despite Williamson Mines Closure

 

                  Tanzania Diamond mines

The Bank of Tanzania announced that the country’s diamond exports increased significantly to $63.1 million (USD) in value by November 2022. This is more than seven times of the $8.4 million export value that was recorded in the year-over year analysis since November 2021.

The good performance of the company has been attributed to the country’s diamond producer Williamson Mines which has temporarily shut down operations due to a recent tailings breach on November 7, 2022. The mine is an open pit operation located on the 146-hectare Mwadui kimberlite pipe, which is one of the world’s largest economic kimberlites.

The company belongs to the parent company Petra Diamonds, which owns 75 percent of the company, and the Tanzanian government owns the remainder. According to Petra’s official statement, production at the Williamson mine will resume in the 2024 fiscal year.

Source: DCLA

Tiffany Buys Some of a Legendary Diamond Mine’s Last Finds

 

               Argyle Diamond Mine in Australia.

The new Tiffany Collection comprises 35 gems, including an unusual red stone, from the Argyle Diamond Mine in Australia.

About a year ago, a representative of the Argyle Diamond Mine — a site in Western Australia that was the pre-eminent source of pink diamonds until it closed in 2020 — approached Tiffany & Company’s chief gemologist with an unusual offer: the chance to purchase a collection of diamonds that were among the last stones taken from the mine.

The decision, Tiffany executives said, didn’t require much consideration.

“We had to do it,” Anthony Ledru, the brand’s president and chief executive, said in his bright office in New York’s Flatiron district. “It’s perfect with what we stand for.”

The purchase, which was finalized several months ago, involved 35 diamonds of various shades: pink, almost purple and even one red gem, an especially unusual color for a diamond. The gems, which had already been cut in various styles, “checked off all of those boxes: rarity, scarcity and beauty,” said Victoria Reynolds, Tiffany’s chief gemologist.

But the stones are small, ranging from 0.35 carats to 1.52 carats, considerably more petite than the statement-size gemstones frequently used in engagement rings and solitaire necklaces.

“These are small, there’s no doubt,” Ms. Reynolds said, “but for connoisseurs, collectors who understand how rare these are, it’s incredibly appealing.”

How much did the jeweler pay for what it now calls the Tiffany Collection? Mr. Ledru wouldn’t disclose the sum, but said it was “probably not enough compared to what it’s going to become in the next five, 10 years.” (He did note that it was Tiffany’s largest single purchase of 2022.)

Exactly how the diamonds will be used in jewelry hasn’t been decided, although Mr. Ledru said it was likely that they all would be used in one-of-a-kind designs. In the meantime, the diamonds are being shown to select clients in New York City and, next month, in Doha, the capital of Qatar.

The eventual prices are sure to be high. “You pay a premium for anything that says ‘Argyle pink diamond,’” said Renée Newman, an independent gemologist and author based in Los Angeles.

Source: DCLA

Fancy diamonds aid North Arrow mining

 

With diamond markets rebounding from the COVID-19 downturn, North Arrow Minerals Inc. and partner Burgundy Diamond Mines Ltd. have continued to demonstrate the value of the fancy yellow diamonds in the Q1-4 kimberlite at the Naujaat project in Nunavut.

Lying about nine kilometers (5.6 miles) northeast of the hamlet of Naujaat (formerly Repulse Bay) on Nunavut’s Melville Peninsula, Naujaat covers 10,742 hectares (26,54 acres) of contiguous mineral leases and claims held by North Arrow.

To date, fifteen kimberlites and eight kimberlite pipes have been identified on the property, as well as a number of associated kimberlite dykes. Of its numerous targets, the Q1-4 kimberlite is the largest and most diamondiferous of these bodies.

Though North Arrow has drilled to depths of 400 meters in Q1-4, the current resource estimate for the project lies around roughly 48 million metric tons of material down to 205 meters, containing more than 26 million carats of diamonds.

North Arrow has since undertaken extensive exploration and evaluation focused on the potential value of its uniquely colored fancy vivid orange-yellow diamonds found in the Q1-4 kimberlite at Naujaat, which is considered one of the largest undeveloped diamond properties in Canada not controlled by a major mining company.

Naujaat’s rare yellow diamonds have been certified by the Gemological Institute of America and are expected to sell at high premiums to white diamond prices, upon which the historical project’s economics were mostly based.

Spending the better part of 2022 filtering through its 2021 bulk sample program funded by Burgundy, North Arrow reported recoveries from the first 70% (1,316 dry metric tons) and revealed at least 268 diamonds of greater than 9 DTC (Diamond Trading Company) weighing roughly 117.98 carats.

Three of the largest recovered diamonds were 3.31, 3.07, and 2.76 carats. 48 of the 268 diamonds classified as fancy color, with more than half of that classifying as orange in color – with orange being considered amongst the rarest of colors for natural diamonds.

Later in the season, the company announced the remaining results of its 2,500 bulk sample program. The results, representing the final 30% (498 dmt), were from the same source, the A88 unit of the Q1-4 deposit.

Despite the smaller amount, North Arrow reported 99 diamonds greater than 9 DTC weighing 55.8 carats. The three largest stones were seven, 2.17, and 2.02 carats.

“The 2021 bulk sample has confirmed the presence of an important, potentially high value population of fancy orange and yellow diamonds in both the A28 and A88 units of the Q1-4 diamond deposit,” said North Arrow President and CEO Ken Armstrong. “This is highly encouraging, as is the recovery of a seven carat diamond – the largest stone recovered to date from the Q1-4 deposit and, although it classifies as boart – an indication of the potential of Q1-4 to produce larger diamonds.”

North Arrow Minerals Inc.

After spending the year filtering through 2,500 bags of its 2021 bulk sample program, results returned 367 diamonds of greater than 9 DTC, weighing in at roughly 173.78 carats.

Of the 99, 10 were classified as fancy color diamonds, with three being labeled as “intense” or “vivid” – the two highest color saturation classes and an important indicator of the potential value in fancy color diamonds. Aside from that evaluation, nine of the fancy diamonds were also categorized as orange.

“The completion of sample processing and diamond recovery from the 2021 bulk sample has further confirmed the presence of a potentially high value, fancy orange and yellow diamond population in the Q1-4 kimberlite,” said Burgundy Diamond Mines Managing Director and CEO Peter Ravenscroft.

In addition to the successful bulk sampling at Naujaat, North Arrow is advancing seven other properties in Canada in the discovery and target development stages, including six additional diamond projects – three in Nunavut, including the Mel, Luxx, and grassroots CSI projects; two in neighboring Northwest Territories, including a 21 percent interest in the LDG joint venture project; and one in Saskatchewan.

Source: miningnewsnorth

Alrosa Finds 2 Huge Diamonds at Udachnaya on the Same Day

Two large high-quality diamonds – each larger than 50 carats – were unearthed in Yakutia on December 2, 2022, Bankers Day, “when Russian bankers celebrated their professional holiday,” according to Rough & Polished.

The two stones were extracted at Processing Plant No. 12 from the ore mined at the Udachnaya diamond pipe. One weighs over 67 carats, while the second diamond, a type IIa, weighs more than 52 carats,

Dmitry Amelkin, Alrosa’s Strategy Director, commented: “Finding two of these rare gem-quality diamonds on one and the same day is a unique coincidence. It is symbolic that this happened precisely on the Udachnaya diamond pipe, which has been accompanied by good luck since its discovery 

Credit: Alrosa

De Beers Slashes Prices of Larger Rough Diamonds

 

        Rough diamonds on display at De Beers

De Beers has made sharp price changes at this week’s sight, implementing deep reductions in larger goods and increases for smaller stones.

Prices fell by as much as 10% in 2-carat rough and above, with lower-quality items seeing the most significant drops, sources told Rapaport News Monday on condition of anonymity. Prices of diamonds under 0.75 carats rose by similar percentages, reflecting a market split that has persisted since late last year, insiders said. Sizes in between saw more modest declines.

“There have been quite wild increases and decreases,” one source said. “Not to say that they’re not justified, but it’s interesting that they’ve done that.”

De Beers declined to comment.

The adjustments follow months of sluggishness in larger, lower-quality rough as Chinese demand slumped during the country’s Covid-19 outbreaks and inflation dented mid-market US spending. Stones in the 3-grainer category and below have remained relatively strong due to steady sales of polished melee and Indian manufacturers’ efforts to fill factories with cheaper material.

De Beers kept its prices firm throughout 2022 despite the weakness in the larger categories, which constitute a significant proportion of its sales. This impacted profit margins at cutting firms, many of which perceived the miner’s rough to be expensive, insiders explained.

“These are the prices [at] which they should have been selling since October,” a sightholder commented. “It’s aligning with reality [rather than] reflecting a relatively poor end of year.”

De Beers is known for its reluctance to reduce prices during downturns, as was the case during the Covid-19 crisis. Now, as then, it has waited for a slight improvement in trading before taking action. China’s reopening has boosted sentiment, while the recent US holiday period was satisfactory, albeit slower than 2021’s record season.

The first sight of 2023, which runs Monday to Friday, comes amid uncertainty about the global economic situation, the Russia-Ukraine crisis, and the prospects for the Chinese New Year, which occurs on January 22.

It’s also a time of transition at De Beers, which is welcoming a new CEO, Al Cook, to succeed Bruce Cleaver on February 20 and is in the middle of negotiations with the Botswana government over an updated sales deal.

“Generally, things are a bit better than they were four or five months back, but that is because of low [polished] production, not because of an improvement of the market,” a manufacturing executive commented. “So the challenges remain.”

Source: DCLA