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Diamonds – Mining, Lab-Grown and Conflict/Blood

The History Of The Argyle Pink Diamond Mines – by Prue Bell (Paul Bram.com – September 3, 2021)

https://paulbram.com.au/

Pink Diamonds are amongst the rarest precious items on earth. That is why they are the most collectible stones right now. To own a pink diamond is to own a piece of Australian and world history.

“Buying a Pink Diamond is like buying a Pablo Picasso while he was alive… In another decade, the Argyle Pink Diamond will emerge as the new Faberge egg, the thing myths are made of. The value of rarity is the most priceless factor” – THE AUSTRALIAN BUSINESS REVIEW.90% of the world’s pink diamonds have been discovered in the mines of North Western Australia in the Argyle diamond mines. “The Argyle pink diamond story has enthralled throughout the years following the remarkable discovery of the Argyle mine in 1979.

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De Beers Capitulates on Diamond Strategy With Big Price Cuts – by Thomas Biesheuvel (Bloomberg News – December 02, 2024)

https://www.bnnbloomberg.ca/

(Bloomberg) — De Beers has cut diamond prices by more than 10% across the board as the world’s biggest producer abandons attempts to put a floor under the slumping market.

The diamond industry has been struck by one of its deepest and most prolonged slumps in decades. What started as a post-pandemic slowdown has spiraled as inflation hit customer purchases, before a collapse in China’s luxury market further eroded demand. Man-made diamonds have also continued to undermine prices.

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Interview: Why diamonds may be a computer’s best friend – by David Szondy (New Atlas – November 30, 2024)

https://newatlas.com/

We recently sat down with Adam Khan of Diamond Quanta – the company that wants to replace the silicon chip with ones made from diamond. We discussed the reason for this glittering idea, the challenges it presents, and the implications of the technology.

The past half century has seen a fantastic evolution in electronics and computers thanks to the silicon chip. In line with Moore’s Law, the number of transistors on a single chip doubled roughly every two years with a commensurate rise in computer power and drop in prices. The result is our modern age of handheld supercomputers, increasingly common AI, the internet, and all the other things that make those of us who remember punch cards feel very old.

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Botswana to Set Up G7 Verification Node for Diamonds – by Joshua Freedman (Papaport Magazine – November 27, 2024)

https://rapaport.com/

Botswana will establish a certification point for rough diamonds entering Group of Seven (G7) countries next year, authorities announced Wednesday, with discussions underway for additional nodes in Namibia and Angola.

The development follows widespread opposition to a plan for Antwerp to be a “single node” through which all rough destined for G7 markets would pass to ensure it is not subject to Russian sanctions.

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Want a Diamond? You’ll Need to Decide on Lab-Grown or Natural. – by Stephanie Cain (New York Times – November 2024)

https://www.nytimes.com/

Consumer misconceptions about diamonds can make the process of engagement ring shopping even more distressing.

With Thanksgiving marking the unofficial start of engagement season — late November through Valentine’s Day is when marriage proposals are common — ring buying is top of mind for many couples considering marriage.

The four Cs — carat, cut, color, and clarity — have traditionally been used to evaluate diamonds. Now, couples buying diamond engagement rings have another choice to make: natural diamonds, which are mined from the earth, or lab-grown diamonds, which are man-made but chemically identical.

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EU Blasts KP Chair’s Comments, Plenary’s Lack of Progress – by Leah Meirovich (Rapaport Magazine – November 20, 2024)

https://rapaport.com/

The European Union (EU) has called out the behavior of Kimberley Process (KP) chair Ahmed Bin Sulayem at the most recent plenary, as well as the meeting’s failure to address a long-standing concern.

The union was disappointed that the plenary, which took place from November 11 to 15, failed to address the implications of the Russian war against Ukraine on the global rough-diamond sector for the third year, it said Monday. The omission has a detrimental impact on the credibility of the KP and on the reputation of natural diamonds, undermining consumer confidence, the EU explained.

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Is the New Natural-Diamond Marketing Campaign ‘Worth the Wait’? – by Leah Meirovich (Rapaport Magazine – November 11, 2024)

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Natural diamonds have taken a big hit in the past few years. From the highs and lows of Covid-19 spending on luxury, to economic uncertainty and an oversupply in the midstream that has led to a persistently weak market, prices and demand have dropped. And that’s before you consider the effect of the younger demographic’s growing interest in lab-grown.

With significant obstacles to overcome, those in the trade have been looking for a solution to reengage Millennials, Gen Z and up-and-coming Gen Alpha consumers with the wonder, rarity and magic of a natural diamond. Enter De Beers and Signet Jewelers.

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GDP drop in N.W.T. last year shows territory’s economy ‘stagnating,’ researcher says – by Nadeer Hashmi (CBC News North – November 14, 2024)

https://www.cbc.ca/news/canada/north/

N.W.T. was 1 of 2 jurisdictions in Canada to see its Gross Domestic Product drop between 2022 and 2023

New economic data from Statistics Canada show that the N.W.T.’s economy is “stagnating,” according to one Yellowknife economist.

And Graeme Clinton, owner of the research firm Impact Economics, says it’s not a big surprise, as the territory’s diamond mines are past their peak production and are preparing for closures. “There’s not a lot of activity coming in behind them, such that we can expect significant growth going forward,” Clinton said.

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Botswana’s new president aims to clinch De Beers diamond sales pact soon – by Brian Benza, Felix Njini and Clara Denina (Reuters – November 1, 2024)

https://www.reuters.com/

Botswana’s new president, Duma Boko, said on Friday he wanted to conclude talks for a new sales pact with global diamonds giant De Beers as soon as possible.

De Beers, a unit of mining company Anglo American, last year agreed a new diamond sales pact, which would see the government’s share of diamonds from the Debswana joint venture gradually increase to 50% over the next decade.

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The transition to closure: The Diavik diamond mine in the Northwest Territories is approaching closure in early 2026, but Rio Tinto aims to leave a positive legacy – by Ailbhe Goodbody (CIM Magazine – October 28, 2024)

https://magazine.cim.org/en/

Rio Tinto’s Diavik diamond mine in the Northwest Territories is set to close in approximately 18 months after almost a quarter of a century of operations. Over 144 million carats of rough diamonds have been recovered at Diavik through a combination of open-pit and underground mining since it entered commercial production in 2003, and the mine is a major contributor to the economy of the Northwest Territories, accounting for more than 10 per cent of the territory’s gross domestic product.

The current mine plan anticipates that operations will cease in the first quarter of 2026, followed by a transition to closure activities from 2026 to 2029. However, the mine was designed with closure in mind from the outset, and Rio Tinto hopes to leave a lasting beneficial impact in the region after its closure activities end in 2029, while limiting its carbon footprint at the same time.

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Diamond-rich Botswana holds an election with new economic challenges for a long-ruling party – by Sello Motseta (Associated Press – October 28, 2024)

https://apnews.com/

GABORONE, Botswana (AP) — Botswana votes in a national election this week that will decide if the ruling party extends a 58-year stretch in power in a southern African country that is a leading diamond producer and often held up as one of the most stable and least corrupt democracies on the continent.

President Mokgweetsi Masisi of the ruling Botswana Democratic Party, or BDP, is seeking a second and final term in office, although Wednesday’s election isn’t directly for president. Voters will decide the makeup of Parliament and lawmakers will later elect the president.

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Diamond Hall of Fame: The CTF Pink Star Diamond – by Jill Newman (Only Natural Diamonds – February 16, 2022)

https://www.naturaldiamonds.com/

Meet the world’s most expensive jewel ever sold at auction.

The Pink Star Diamond shattered every price record when Sotheby’s sold it for a staggering $71.2 million in April 2017 at a Hong Kong auction. It’s the single most expensive diamond or jewel sold at auction.

At 59.60 carats (about the size of a strawberry), the fancy vivid pink internally flawless diamond has none comparable in size and quality. So how can you assess a price for something that is essentially priceless?

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Marie Antoinette Linked 300 Carat Diamond Necklace For Sale(Salon Prive Magazine – October 19, 2024)

https://www.salonprivemag.com/

A spectacular 300-carat diamond necklace with connections to Marie Antoinette’s infamous affair heads to Sotheby’s auction, expected to fetch millions.

In a stunning revelation that has sent ripples through the world of high-end jewellery and historical artefacts, Sotheby’s has announced the upcoming auction of an extraordinarily rare and historically significant 18th-century diamond jewel.

This magnificent piece, weighing approximately 300 carats and valued at an estimated 1.6 to 2.4 million Swiss francs (£1.4 to £2.1 million), has made its first public appearance in half a century.

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Lab-Grown Diamonds and the Future of Fine Jewelry – by Goran (Fine Magazine – October 17, 2024)

https://www.finehomesandliving.com/

Lab-grown diamonds are not just a trend – they are reshaping the entire fine jewelry industry. With their stunning appearance, ethical appeal, and affordability, these diamonds are becoming the go-to choice for modern consumers.

A lab-grown diamond offers all the luxury and brilliance of a natural stone but with added benefits. As we look to the future of fine jewelry, it’s clear that lab-grown diamonds will play a major role in defining the next generation of jewelry designs.

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Amplify the Message: The natural-diamond industry has renewed its category-marketing efforts as it urgently seeks to stimulate demand – by Avi Krawitz (Rapaport Magazine – October 14, 2024)

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There is a sense of urgency to promote natural diamonds this holiday season.

With market sentiment notably weak at the start of the fourth quarter, the industry has a glaring need to raise demand for diamond jewelry at the retail level. This would stimulate trading through the rest of the distribution chain, which has experienced heavy declines.

Natural diamonds have lost market share to synthetics, while the trade also faces headwinds from the slowdown in China and US consumer caution resulting from the rise in the cost of living. It seems the industry has intensified its marketing efforts ahead of the US holiday season.

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