Priyanka Chopra’s $43M Necklace Is Literally Straight Out Of A Museum

Earlier this week, Priyanka Chopra attended Bulglari’s 140th anniversary event in Rome. And as a global brand ambassador, of course, she was totally decked out in diamonds.

Alongside celebrity supporters like Anne Hathaway, Chopra wore a dazzling piece from the brand’s “Aeterna High Jewelry” collection. With seven massive stones affixed to a unique, wavy choker, Chopra’s necklace was a hero piece for sure. But what made the design so special is that it’s one of the most precious (and expensive) designs the brand has ever created — at a cool 43 million dollars.

Priyanka’s Dazzling Diamonds
According to Bulgari, the lavish necklace took “over 2,800 hours to complete.” Made up of 140 carats worth of diamonds, the necklace — dubbed the Serpenti Aertena — retails for a whopping 43 million dollars. The statement choker featured pear-shaped drop diamonds, the largest sitting front and center.

The intricate design was specially designed for the occasion, with its carat count symbolizing the brand’s 140 year anniversary. The entire collection is so ornate, it was unveiled at a museum — it truly doesn’t get much more iconic than that.

Paying the diamonds their due, Chopra went for a fairly simple off-the-shoulder gown by designer Del Core. A fitting choice for the fancy occasion, her custom look featured a cape-inspired detail and a peplum waist. The sweetheart neckline lent itself nicely to the accessory du jour.

Source: DCLA

Botswana Diamonds expands its land holdings in the Kalahari

Diamond exploration company Botswana Diamonds has been granted four prospecting licences – covering just under 2 332 km2 – in the Kalahari of Botswana.

The prospecting licences are in the same general area as Gem Diamonds’ Ghaghoo mine, as well as Botswana Diamonds’ own KX36 project.

“I am pleased that we have been awarded these prospecting licences in the Kalahari of Botswana, which we believe will be the next major diamond-producing area in the country.

“Exploration is a long game, particularly diamond exploration, and we believe the industry is going through a structural change which will see the natural product, particularly from Botswana, find its premium niche in world markets,” chairperson John Teeling comments.

Source: DCLA

10.20-Carat ‘Eden Rose’ Diamond Could Fetch $12 Million At Christie’s

Christie’s will offer “The Eden Rose,” a 10.20-carat round brilliant fancy intense pink diamond, as the top lot of its New York Magnificent Jewels auction on June 11. Its estimate is $9 million to $12 million. It is the first time this diamond has appeared at auction.

The Gemological Institute of America report supplied by Christie’s states that the diamond is also internally flawless.

Describing it as an “exceptionally rare gemstone,” Christie’s says the gem, named after the symbol for unconditional love, it is the most significant round brilliant internally flawless fancy intense pink diamond to be offered at auction since the “Martian Pink,” which sold at Christie’s Hong Kong in 2012 for $17.4 million, equating to $1.45 million per carat.

The diamond exhibits a pure pink hue, unlike many natural pink diamonds that typically display secondary hues such as purple, orange or gray. “The Eden Rose stands out for its complete absence of any secondary color, rendering it exceptionally rare,” Christie’s said in a statement.

Rahul Kadakia, Christie’s International head of Jewelry, said in a statement that he is “anticipating significant interest from around the world.”

Christie’s says the round brilliant cut is known for its ability to maximize light reflection and is considered the ideal cut for diamonds.

The Eden Rose is mounted on a ring further adorned with eight brilliant-cut diamonds, ranging in weight from 3.11 to 0.73 carats, and two marquise brilliant-cut diamonds of 2.24 and 1.02 carats.

Source: DCLA

Past producing yellow diamonds mine in Australia set to reopen

Australia’s Gibb River Diamonds is getting closer to restarting the mothballed Ellendale diamond mine in West Kimberley after being granted three mining leases that are key for the project.

The permits mark a significant step in reviving production at Ellendale, which was a major diamond producing mine. The operation was particularly know for being a source of fancy yellow diamonds, being responsible for more than 50% of the annual world’s supply until it was shut down in 2015.

As part as the reopening steps, Gibb River said it is scheduled to conduct a heritage clearance survey in the first week of June. The company is also studying financing options for the project, including debt, equity, earn-in partner, joint venture partner, a North Australian Infrastructure Fund (NAIF) partnership, or other government funding schemes available.

The exploration and development company became Ellendale’s sole owner in March last year, after acquiring the project from Burgundy Diamonds.

Shares in the company soared on the news, closing 48% higher at 37 Australian cents each. This leaves Gibb River Diamonds with a market capitalization of A$6.52 million ($4.4m).

Source: DCLA

The US is reportedly rethinking plans to ban Russian diamonds amid industry pushback

The US is rethinking restrictions on Russian diamonds after a wave of pushback from the industry and nations heavily involved in the diamond trade, Reuters reported on Monday.

Western countries have placed stiff restrictions on Russia’s diamond trade, with fresh sanctions in December banning the gems throughout the European Union. That’s a step up from the initial sanctions, which previously allowed the trade of Russian diamonds that were polished in other countries.

Diamond traders now need to self-certify that the gems they sell are not of Russian origin. By September, diamond traders in the European Union will need to send diamonds through a certification system in Belgium before selling them.

Those measures have helped crimp Russia’s war revenue, given that the nation is one of the largest producers of diamonds in the world. Yet the US, one of the world’s largest diamond consumers, could pull back on its commitment to implement the latest restrictions, three people familiar with the matter told Reuters.

Two sources said the US had pulled back on working with the G7 to implement the diamond ban and certifying that gems were not of Russian origin. Officials are “there but not engaging” in the discussion, one person said.

A senior White House official told Reuters the US would continue to work with the G7 on the Russian diamond ban, and that it had not changed its mind on the issue, but they noted several obstacles in enforcing the latest restrictions:

“We will want to make sure that we strike the right balance between hurting Russia and making sure that everything is implementable,” the official said.

The government has received pushback from firms and nations heavily involved in the diamond trade. Some African nations and Indian diamond polishers have complained about the latest restrictions, warning that the ban was faulty in its design and could raise problems in the industry. Diamond prices could also rise due to scarcer supply, they warned.

Virginia Drosos, the CEO of Signet, asked the US government to “stand against … the G7 Belgian solution,” according to a letter seen by Reuters.

De Beers, one of the world’s largest diamond miners, said it supported a ban on Russian diamonds but wants diamonds to be verified at the source of production, rather than in Belgium.

“The opportunities for, and likelihood, of Russian diamonds infiltrating the legitimate supply chain are in fact higher when you move further away from the source,” it told Reuters.

Source: DCLA

De Beers Is Eager To Go It Alone As Anglo American Divests Its Diamond Holdings

Anglo American, the $30.7 billion British multinational mining company, just announced plans to divest De Beers, its diamond mining and jewelry subsidiary. Ango American holds an 85% interest in De Beers and the government of Botswana owns the minority share.

“Anglo American is now exploring the full range of options to separate the business in order to set it up for success in unlocking full value, “ Anglo American CEO Duncan Wanblad said in a presentation earlier this week. “This will give both Anglo American and De Beers a new level of strategic flexibility to maximize value for both company’s shareholders.”

Anglo American is fighting a takeover bid from BHP Group, reported by Reuters to be the world’s largest mining company. In a move to shore up the company’s overall value, Anglo American will focus on its cooper, premium iron ore and crop nutrients businesses. Also slated to be divested is its Anglo American Platinum business, both of which will bring profound changes to the roughly $300 billion global jewelry industry.

Advising that Anglo American is considering a number of options for De Beers, be it a sale or IPO, and that it is still working through logistics with Botswana, Wanblad said, “It is a great business and it has fantastic assets and it has an exceptional brands. And therefore on that basis, it really deserves to be together on that set of criteria. How we do this is going to be a journey.”

De Beers CEO Al Cook is more than ready for the next phase of that journey. “For 124 of our 136 years of existence, Anglo American didn’t own the majority of De Beers,” he shared in an exclusive interview from Botswana. Anglo American acquired its majority stake in 2011.

Source: DCLA

Christie’s Holds 2 Sales Despite Cyberattack

Geneva Christie’s went ahead with two of its Geneva auctions, one for jewelry and one for watches, despite the fact that its website has been down since late last week following a cyberattack.

“The Yellow Rose” diamond, pictured above, was the top lot in its “Magnificent Jewels” sale in Geneva.

The 202 ct. Yellow Rose diamond sold for $6.7 million at Christie’s Magnificent Jewels sale in Geneva on Wednesday.

On Tuesday, a smaller but historically significant yellow diamond the 101.29 ct. fancy vivid Allnatt was pulled from Sotheby’s Magnificent Jewels auction at the last minute, despite carrying a $6.1 million to $7 million estimate.

Source: DCLA