DiamondBuzz
Spain invests $813m in Diamond Foundry LGD project
In a clear sign of the growing strategic importance of lab-grown diamonds for technological applications, the Spanish government has committed a massive EUR 750 million (approximately $813 million) investment to Diamond Foundry’s new manufacturing plant in Trujillo.
This significant funding injection is specifically earmarked for the production of semiconductor-grade, lab-grown diamonds. It dramatically boosts the project’s war chest, adding to the initial EUR 80 million in funding that the European Union had already pledged last December.
The Trujillo facility is poised to become the largest of its kind in Europe, specializing in high-tech, industrial, and semiconductor-grade diamonds.
- Projected Output: When operations begin—anticipated sometime between 2027 and 2029—the plant is expected to yield over 4 million carats annually, with production slated for substantial increases thereafter.
- Total Project Value: The full cost of the Trujillo project is reported to be a staggering EUR 2.35 billion.
This monumental investment underscores a key trend in the lab-grown diamond sector: a heavy pivot away from the jewelry market and toward high-value industrial and technological applications.
DiamondBuzz
Sotheby’s to Auction 31.68-Carat ‘Desert Rose’ Diamond in Abu Dhabi with Estimate Up to $7 Million
The Fancy Vivid Orangy-Pink diamond, the largest of its kind ever certified by GIA, will headline Sotheby’s inaugural Collectors’ Week on December 5.
Sotheby’s has unveiled the 31.68-carat ‘Desert Rose’ diamond as the star lot of its upcoming Abu Dhabi jewellery auction, assigning the rare gemstone a presale estimate of $5 million to $7 million. The sale will take place on December 5, 2025, during the auction house’s inaugural Collectors’ Week, a new event bringing together luxury categories including jewellery, watches, automobiles and design.
Graded by the Gemological Institute of America (GIA) as a Fancy Vivid Orangy Pink with VVS1 clarity, the pear-shaped Desert Rose holds the distinction of being the largest diamond of its classification ever recorded by GIA. Its combination of size, intense colour saturation and exceptional clarity has positioned it among the most important pink diamonds to appear at auction in recent years.
Sotheby’s noted that the valuation reflects continued global appetite for top-quality coloured diamonds, a segment that has shown resilience despite broader softening in the white diamond market. Large natural pink diamonds, especially vivid stones above 30 carats, remain exceptionally scarce and highly sought after by collectors.
Industry observers point out that the sale highlights the UAE’s rising profile as a hub for high-value gemstones and luxury collecting. International auction houses have increasingly expanded into Abu Dhabi and Dubai over the past five years, driven by demand from private collectors, family offices and regional wealth centres.
The performance of the Desert Rose diamond is expected to set a benchmark for the coloured-diamond market heading into 2026, offering insight into buyer sentiment for ultra-rare natural stones.
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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.