A rare 11.16 carats fancy vivid blue diamond could fetch between 22 to 25 million Swiss francs ($24 to $28 million) when it goes under Sotheby’s hammer next week in Geneva.
Named the Bulgari Laguna Blu, the pear-shape cut diamond boasts a rich blue hue that the auction house qualifies as “extraordinary” and “mesmerizing”.
It is the highest grade blue diamond ever graded by the Gemological Institute of America (GIA) and the third-largest pear-shaped fancy vivid blue diamond to ever go for sale on an auction, according to Olivier Wagner, head of jewellery at Sotheby’s Geneva.
The gem, first exhibited at the famous Met Gala fashion show in New York on Monday, is expected to attract the interest from global collectors.
A Swiss company claims it has developed technology that chemically profiles any diamond so it can identify the country – and even the specific mine – of origin.
Spacecode says it analyzes diamonds at a molecular level to determine where it was mined, so it doesn’t matter whether the stone has been registered earlier in the supply chain.
The company has been in talks with the G7 and EU nations about the possibility of using its technology to identify Russian diamonds.
“Our research started 10 years ago, but over the past three years we have developed a specific technology that identifies the provenance of any diamond,” said Pavlo Protopapa the company’s CEO.
“We are the first ever to hold such unique technology, which is a major game changer all along the diamond supply chain.”
“We plan to produce by the end of this year our initial units. By 2024, we will offer on a large scale to the global diamond and jewelry industries, a small easy-to-use device that will define the country of origin of rough and polished diamonds.”
Protopapa added that “in meetings with the G7 and the EU representatives, we have received enthusiastic interest. Within months, we will deliver a small, easy-to-use device that will identify Angolan, Botswanan, South-African and of course, any Russian diamonds. We will leave it for the politicians to decide what to do with it”.
Spacecode’s breakthrough technology analyzes the chemical composition of a diamond on a molecular level, and with Artificial Intelligence tools, creates a “chemical profile” of the run of the mine of a specific diamond mine.
The technology identifies not only the country of origin, but even the specific mine in which it was mined.
Spacecode’s diamond inventory management technology already tracks more than 25 million stones. The company has a team of 15 engineers and specialists, and over 300 clients. Its technology could be adopted by the G7 and the EU to impose effective sanctions on both rough and polished diamonds from Russia.
It could also be used by the Kimberley Process and other organizations, to end, for example, the export of Angolan diamonds through other African countries.
Diamonds have long been revered for their beauty, rarity, and association with luxury. However, traditional diamond mining comes with ethical concerns and environmental impacts. In recent years, laboratory-grown diamonds have emerged as an alternative, marketed as a sustainable and eco-friendly choice. This article explores whether laboratory-grown diamonds truly live up to their claims of sustainability and environmental friendliness.
The Process of Laboratory-Grown Diamonds: Laboratory-grown diamonds, also known as synthetic or cultured diamonds, are created in controlled environments using advanced technology. They are produced through two primary methods: High-Pressure High-Temperature (HPHT) and Chemical Vapor Deposition (CVD). Both methods involve replicating the natural conditions that cause diamond formation but in a shorter time frame.
Environmental Impact: a) Land Disruption: Traditional diamond mining often requires extensive land clearing and excavation, leading to habitat destruction and soil erosion. In contrast, laboratory-grown diamonds are produced in labs, eliminating the need for land disruption.
b) Energy Consumption: The production of laboratory-grown diamonds does require significant energy inputs, mainly in the form of electricity. However, advancements in technology have made the process more efficient, reducing energy requirements over time. Renewable energy sources can also be used to power these facilities, further minimizing their carbon footprint.
c) Water Usage: Traditional diamond mining can consume substantial amounts of water, contributing to local water scarcity and ecosystem degradation. Laboratory-grown diamond production generally requires significantly less water, making it a more environmentally friendly option.
d) Chemical Usage: While the production of laboratory-grown diamonds involves the use of chemicals, the industry is continually striving to reduce their environmental impact. Responsible manufacturers are working on developing greener chemical processes and minimizing the use of harmful substances.
Ethical Considerations: Traditional diamond mining has long been associated with human rights issues, including exploitative labor practices and conflicts (so-called “blood diamonds”). Laboratory-grown diamonds, on the other hand, offer a more transparent and traceable supply chain. Consumers can be confident that their diamonds are not contributing to human suffering or funding conflicts.
Long-Term Sustainability: a) Repurposing Waste: Laboratory-grown diamond production generates significantly less waste compared to mining. Additionally, by-products from the manufacturing process can be repurposed, further reducing the ecological impact.
b) Circular Economy: As laboratory-grown diamonds gain popularity, a potential future advantage lies in their ability to be recycled and repurposed. This aligns with the principles of a circular economy, where materials are reused rather than discarded.
Conclusion:
Laboratory-grown diamonds offer an alternative to traditional diamond mining that addresses many of the ethical and environmental concerns associated with the industry. While there are energy and chemical inputs involved, the overall impact is significantly reduced compared to mining. Furthermore, the transparency and traceability of laboratory-grown diamonds provide assurance to consumers seeking an ethical and sustainable choice.
As with any industry, continuous improvements are needed to enhance the sustainability of laboratory-grown diamond production. Manufacturers should prioritize the use of renewable energy, minimize chemical usage, and explore recycling options. By doing so, laboratory-grown diamonds can truly become a more sustainable and eco-friendly option, offering consumers the beauty and luxury they desire without compromising the environment or human rights.
Diamonds were strewn across the floor of a shopping mall, when a raider was grabbed by security guards outside a jewelry store in New Zealand.
He was one of six masked robbers, armed with hammers and knives, who smashed glass cabinets at Michael Hill Jeweller, in Chartwell Shopping Centre, Hamilton. The other five escaped.
The New Zealand Herald newspaper reports that “the shopping centre floor was strewn with thousands of dollars worth of diamonds as offenders stormed in and smashed glass cases and cabinets.”
Police said they’d taken one person into custody and charges were being considered.
Storm Mountain Diamonds (SMD), jointly owned by Namakwa Diamonds Limited and the Government of Lesotho, has recovered a 108.39-carat fancy pink diamond at its Kao Mine in the Southern African country.
The diamond is one of the largest pink roughs ever found in Africa, which include the “Lulo Rose”, 170-carat precious stone recovered by Australia’s Lucapa Diamond in Angola last year.
SMD said the diamond was recovered from a 1.5 tonne sample of kimberlite ore that was processed at the mine’s plant.
It is a Type IIa stone, which means it has very few impurities and a high level of clarity, the company said.
The Kao Mine is one of the largest diamond mines in Lesotho and produces about 400,000 carats of diamonds annually.
Coloured diamonds, especially pink ones, have repeatedly set record-setting prices in recent years as they are rarer than white ones. While they come in many hues, pink and blue are the most coveted.
Istanbul Police, Tuesday, seized unprocessed raw diamonds with a market value of TL 20 million ($1 million), estimated to be 61.38 carats, during an operation in the Grand Bazaar – one of the historical trade centers of Istanbul, local Turkish media reports.
According to the report, the Istanbul Police Department and the Department of Combating Financial Crimes received information about the smuggling of diamonds in the historic Grand Bazaar, Istanbul.
They detained four foreign national suspects, the report added.
It was determined that the seized diamonds were brought to Turkey illegally, via Africa.
Jewelers in India have shattered a world record with a ring made of 50,907 diamonds.
The Eutierria Ring has more than twice as many diamonds as the previous record holder, The Touch of Ami, with 24,679 diamonds. Both rings were made in India.
The new ring, created by H.K. Designs and Hari Krishna Exports, was certified last month by Guinness World Records as the ring with the most diamonds.
The ring took nine months to design and make, entirely of recycled materials – 460.55 grams of gold and 130.19 carats of diamonds all re-purposed from customer returns.
It is designed as a sunflower with four layers of petals, a shank, two diamond discs, and a butterfly.
It has been certified by IGI and has a retail value of $785,645, according to a press release issued jointly by both companies.
It takes its name, Eutierria, from a term describing a positive feeling of oneness with the earth.
