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De Beers’ carrying value to be written down:Anglo American

Anglo American said it expects to write down De Beers’ carrying value for the second year in a row, in response to the industry’s continued weakness.

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The London-based miner, which owns 85% of De Beers, wrote in its annual production report that it’s “assessing the impact of diamond market conditions and general fall in demand in China, which is likely to lead to an impairment at the full-year results. We expect full-year 2024 EBITDA for De Beers to be marginally negative.”

De Beers is currently valued at $7.6 billion, following a $1.6 billion write-down last February. Its new valuation will be announced when Anglo releases its 2024 financial results on Feb. 20.

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CVD Synthetic Fashioned To Imitate A Rough Natural Diamond

The Near-Colorless Stone Is Believed To Be The First Time Creators Of A Synthetic Chemical Vapor Deposition (CVD) Diamond Have Shaped It To Resemble A Rough Diamond

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The 6.87-carat near-colorless CVD diamond was shaped to resemble a natural rough octahedral crystal but showed distinct synthetic features under microscopic and spectroscopic analysis.GIA’s tests confirmed the stone’s synthetic origin, noting polishing marks, facet junction roughness, and luminescence patterns inconsistent with natural diamonds.

No evidence currently suggests widespread substitution of synthetics for rough natural diamonds, but existing detection tools could be adapted if such cases increase.

The near-colorless stone is believed to be the first time creators of a synthetic chemical vapor deposition (CVD) diamond have shaped it to resemble a rough diamond, according to an article in the spring issue of the institute’s Gems & Gemology quarterly journal.

Upon investigation with the use of raman spectroscopy, the results confirmed that the material was a diamond, with its near-octahedral shape similar to that of a natural rough crystal. Further analysis showed that it was not a true octahedron, as only one set of opposing faces was parallel. Microscopic observation under differential interference contrast revealed extremely flat faces marked mainly by parallel polishing lines, unlike the growth steps and trigons typically seen on natural octahedral faces. The facet junctions were extremely rough, possibly due to measures taken to improve the color, after which the main faces appear to have been repolished, the institute explained.

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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

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