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Monthly Archives: June 2013

  • BOTSWANA DIAMONDS COME HOME

    There is excitement in Botswana as the government owned Okovango Diamond Company begin to auction diamonds in their home country instead of Europe as in previous auctions.  De Beers, which is part owner of the mine will also be moving sales operations to Gaborone.

    Botswana has long held the view that diamonds mined from the country should be processed and sold from where the diamonds were sourced.  In a move to facilitate the smooth running of operations, De Beers moved from London, where its rough stone sorting operation has traditionally been carried out, to Botswana.

    The auction will last for about two weeks, and currently there are a dozen diamond buyers from around the world perusing the diamonds on offer.  This is a very big move for the country and will provide many jobs for locals, as well as experienced personnel from De Beers relocating to Botswana - great for the local economy.

    The long term plan is for Botswana to become a hub of the diamond industry, such as Tel Aviv and Antwerp, continuing even if and when the diamond mines eventually close. After De Beers' relocation they expect to sell within the region of $6million worth of diamonds of Gaborone.

    Philippe Mellier, chief executive of De Beers, who own Debswana, the country's main diamond company with Botswana said, "moving diamond sales was part of a deal agreed with the government of Botswana.  It's a global movement of big scale for the diamond business.  If you migrate $500m-$600m per month of sales of diamonds - that's a big move and at the scale of Botswana that's a very big move and certainly a move of significant scale for southern Africa."

    Rob Young from the BBC World Service, Gaborone, says, "The auction is going to be small, but its symbolism is huge. It should earn more money for Botswana than the previous system. The diamonds which are being sold were mined in Botswana and are being sold by Botswana. For decades, the auctions have taken place in Europe. Staff from diamond giant DeBeers in London are also relocating to Gaborone, and locals are being trained and employed. Soon, DeBeers will sell about $6bn worth of the precious stones annually in Gaborone; that is the equivalent of a third of the size of the economy.It has seen by those in power as the beginning of "bringing the diamonds home. There is excitement among many here, especially the business community which hopes to benefit from a related economic boom." 

  • RIO TINTO TO HOLD ON TO DIAMOND MINING INTERESTS

     

    After much deliberation and changes of heart as to whether to sell its mining interests or to float them on the Stock Exchange, Global miner Rio Tinto has decided not to sell its diamond mining interests in Australia, Canada and Zimbabwe. After discovering that the long-term view for the diamond market is very positive, the company says it will continue as owner and operative.  They say this has been guided by an upturn in demand from Asia for high-end luxury products.  North America has also been pinpointed as a source of very high demand.

    After strong interest from Dominion Diamond Corporation, Petra Diamonds and De Beers, Alan Davies, Rio Tinto Diamonds and Minerals C/O said the company's diamonds businesses were well-positioned to capitalise on the positive market outlook.

    "After considering a number of alternative strategic ownership options, it is clear the best path to generate maximum value for our shareholders is to retain these businesses," Mr Davies said.

    Analyst, David Lennox said the announcement that Rio Tinto had taken its diamond interests off the market was a fairly clear indication that they had not achieved the price they were looking for. Lennox said, "They weren't a keen seller, but had they got the price they wanted it would have been sold. They've certainly done all they can to ensure that production stays in line, it's just that it is getting more costly and they're not getting significant finds of valuable diamonds," he said.

    Argyle produces around 90 per cent of the world's supply of rare pink diamonds and is the world's largest supplier of natural coloured diamonds.

  • The Merlin Diamond Mine set to regain its Sparkle

     

    It has been announced that The Merlin Diamond Mine in the Northern Territory (its only mine) will begin producing again next month, with a target of producing 250,000 carats a year.  About 100 Kilometres south of Borroloola, the Merlin Mine ceased production in 2003, but new managing director, Joseph Gutnick says that in six or seven weeks, production will begin again.

    "We're starting at 150,000 carats a year and ramping up to 250,000 carats a year, and we're very excited about it," he said. "It's a dream of mine that's coming true. Our costs of extracting the diamonds are reasonable, around $150 per carat, and the average (price) of our diamonds is around $300 to $350 a carat polished... so some good margins. We are hoping money generated from the sale of the diamonds will be used to increase our resource of 7 million carats to a much higher level, because there's enormous potential in the area."

    One of three famous Australian diamond mines, Merlin was the site of the discovery of the Gungulinya-Bunagina, Australia's biggest diamond, weighing in at a huge 104.73 carats.  Today it is estimated that the Merlin can deliver 7.2 million carats, which will make it Australia's second largest diamond discovery after the Argyle, Rio Tinto's mine in the Kimberley

  • Congratulations to Jennifer Love Hewitt and Brian Hallisay

    A lovely baby-bump and a gorgeous diamond engagement ring presented by her fiance, Brian Hallisay has put wide smiles on both their faces.  The Client List star and her boyfriend must be over the moon with their fabulous news, broken to the world last month.

    Now in her second trimester, Jennifer sports a huge diamond on the third finger of her left hand. 'We're so thrilled and happy to start a family,' Jennifer and Brian, both 34, said in the statement to Us Weekly.

    If you've fallen madly in love ~  with Jennifer's stunning engagement ring look no further than My Diamonds, Australia, Australia's premier diamond engagement ring specialists for a design just as spectacular.  Here is a selection to tempt you:~

    Blossom White Gold - GIA Diamond Ring

    Blossom White Gold - GIA Diamond Ring

    Your love is unique and so should be your engagement ring. The Blossom is the latest creation by our head master jeweller.  A delicate ribbon of diamonds hold the centre four claw setting.  Centre premium GIA certified round brilliant cut diamond available from 0.75, 1.00, 1.25, 1.50 and 2.00 carats. Diamond weight of setting 0.07 - 0.11 carats18k white gold setting and band (or yellow gold).

    Louise Platinum - GIA Round Diamond Ring 1.10ct

    Arbella White Gold - GIA Round Diamond Ring

    Diamond engagement ring complete with a centre premium quality GIA certified round/brilliant cut diamond set in a 4 claw setting. Ring consists of 14 round brilliant cut diamonds set onto the shoulders of the ring.Diamond weight of band 0.21 carats. 18k white gold setting and band (or yellow gold).

    Arbella White Gold - GIA Round Diamond Ring

    Louise Platinum - GIA Round Diamond Ring 1.10ct

    A sweep up band of scintillating round brilliant diamonds beautifully enhances the pure elegance of the centre round brilliant cut diamond in a fine four claw setting.  Ring is complete with a premium GIA certified 0.50ct round diamond.  Total diamond weight 1.10ct. Platinum setting and band.
    Delivery : 3 weeks

  • Sale of Ellendale Diamonds ~ 18th June

    On Tuesday the 18th June, the sale of the Ellendale Diamonds will begin.  Tens of thousands of rough diamonds from the Ellendale Mine, in the Kimberley region of Western Australia will be sold in an auction conducted over the internet.  This is surely a sign of the technological times we live in. There will be 34 lots in all, containing more than 30,000 stones.  Hope you've got deep pockets!

    Harvested at Ellendale by KDC, the diamonds in the auction are mostly white stones and fancy yellows.  This is to be expected as the mine supplies about half of all yellow gems sold globally. At the previous Ellendale diamond auction, demand exceeded supply resulting in the sale of all the lots offered.  eDiamond will be auctioning nearly three times the amount sold at that time.

    Two viewings will be conducted in anticipation of the auction: one in Tel Aviv, beginning today and continuing until Wednesday, and one in Antwerp, beginning on Friday and continuing until the day before the sale. Diamonds will always be good investments and diamond jewellery never fails to hit the spot as gifts for our loved ones.  For really eclectic designs and quality craftsmanship, view the designs and loose diamonds on offer at www.mydiamonds.com.au   Every piece has been designed in-house and My Diamonds offers a bespoke engagement ring design service second to none.  Call 1300-66-55-20 and speak with a My Diamonds diamond specialist.

    Joy Brilliant Platinum - GIA Diamond Ring

    Joy Brilliant Platinum - GIA Diamond Ring

    A design with presence that boasts elegance and dramatic beauty. Australia’s most favourite engagement ring.  A very fine and open 6-claw setting, with a diamond set under the centre setting. Design is made perfect with a premium GIA certified round brilliant cut diamond. Platinum setting and band.

  • Breaking News of the sale of the Rio Tinto Diamond Mine

    As reported previously Rio Tinto plans to sell its world-wide diamond mines, yet news has it that the suggested float of the company has become firmer in recent days.

    One of the interested parties has confirmed that its interests lie only in the DIAVIK DIAMOND MINE, in Canada's Northwest Territories. Canada's Dominion Diamond Corporation, a partner with Rio Tinto in Diavik, and holding just 40%, have stated that they wish to purchase the 60% stake that Rio Tinto have in the mine and no more, as the Argyle mines in Australia, 'are just too distant for a company of its size to consider.'  Dominion recently became 'top-dog' of the Canadian diamond industry, after acquiring BHP Billiton's 80% stake in the Ekati diamond mine, also in the Northwest Territories.

    Diavik Mine ~ Northwest Territory of Canada

    Bob Gannicott, Chairman and Chief Executive of Dominion said that Dominion are entirely focussed on the Northwest Territory of Canada, being a place they know and understand.  Nevertheless, Rio is keeping its options open.  The preferred option would be to sell the company in its entirety, but would certainly consider fragmenting the business if sale of the parts brings a greater return.  Watch this space for more news of the sale of the iconic Rio Tinto mines!

    And don't forget you can purchase your fabulous diamond from My Diamonds at a price easily affordable.  Look out for new designs from My Diamonds artisan jewellers such as The Blossom and The Delfina.  Look below for a tempting glimpse!

    Ribbon of Diamonds Holding the Centre Setting

    The Blossom ~ Your love is unique and so should be your engagement ring. The Blossom is the latest creation by our head master jeweller.  A delicate ribbon of diamonds hold the centre four claw setting.  Centre premium GIA certified round brilliant cut diamond available from 0.75, 1.00, 1.25, 1.50 and 2.00 carats. Diamond weight of setting 0.07 - 0.11 carats18k white gold setting and band (or yellow gold).

    Delfina Yellow Gold - Unique Engagement Ring

    The Delfina ~ An exclusive design by our head master jeweller.  A six claw yellow gold solitaire setting with two claws extending out of the band in yellow gold and remaining four claws in white gold. Complete with a premium GIA certified round brilliant cut diamond.  18k yellow gold setting and white gold setting.

  • Rio Tinto looks to sell home of the Pink Diamond

    The Argyle Diamonds Mine has had 2.2 billion dollars of expansion by Rio Tinto.  The Argyle Mine is home to that exquisite and rare diamond the Argyle Pink and it's hoping that this, along with the huge investment made will make the mine attractive to potential buyers.

    The Rio Tinto Argyle mine is in the Kimberley in Northern Western Australia,  The expansion and investment increases its life to 2020 meaning diamonds can be mined there for at least another 20 years.  The pinks are so rare they contribute to just a fraction of the diamond haul from the Argyle mines every year - a pink 1ct diamond can command a price of $1 million to $2 million dollars.  These are put into tender and offered to diamond collectors all over the world.

    Rio Tinto are selling mines in Canada and Zimbabwe as well as Australia, trying to shave 5 billion dollars of costs from its operation as commodity prices continue to fluctuate.  They are currently talking to potential buyers as the outlook for the mine is very positive and also considering floating the mine, which will be worth about $2 billion dollars to Rio Tinto.

    So if you fancy owning a few more beauties like the one above, you'll have to dig deep into those pockets.  Maybe this years birthday present?

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