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May 2018

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SPECTRUM – Diamond Industry News #22

If you’re new to our SPECTRUM series, welcome aboard! Every now and again, we bring you a roundup of the latest diamond industry news, and we publish it here at The Diamond Blog. Whether it’s a diamond retail trend making waves, a scientific discovery about diamonds, or an insider view of the industry, we scour the internet for the most exciting and interesting diamond news, and bring it to you in one convenient post. This month, we’ve got some diamond blockchain news from IBM, how scientists have made diamonds bend, a huge diamond find in Botswana, and – just for fun – some diamond jewelry speculation surrounding the upcoming royal wedding of Prince Harry and Meghan Markle, plus much more. So, sit back, relax and enjoy some Spectrum diamond news.

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IBM Blockchain Is Tracking Diamond Rings Across the Globe

By Jeff John Roberts @Forbes

We’ve spoken about blockchain many times before here at The Diamond Blog. Now, IBM has announced a new blockchain technology, called TrustChain, which will be used by jewelry retailer Helzberg to provide foolproof tracking of the provenance and authenticity of diamond rings. This is a definite step towards the implementation of blockchain as an integral part of the diamond industry, with the aim of reducing fraud and boosting consumer confidence.

Here’s How Scientists Bent Diamonds

By Ryan F Mandelbaum @Gizmodo

Thought that diamonds were the hardest substance on earth? Think again. It turns out that physicists have recently figured out a way to make diamonds bend and stretch like rubber. Not a regular diamond for course, but miniscule diamond ‘nano-needles’, so tiny they can bend back and forth without snapping. What does this mean for the diamond industry? At the moment, not a lot. It’s another part of the massive scientific puzzle about diamond matter. Or, as one scientist is quoted in the article, “It was definitely a surprise.”

 

Another Week and Another Huge Diamond Is Found in Botswana

By Thomas Biesheuvel @Bloomberg

At The Diamond Blog, we’ve discussed before the reasons why everyone loves big diamonds. This year is turning out to be an exciting one for big diamond finds, with Lucara finding a massive 327-carat white diamond in its Botswana mine, just weeks after finding a 472-carat light brown diamond.  Lucara’s Botswana mine was also the place where the 1,109-carat Lesedi La Rona was found – the second biggest diamond find in history. It’s only May – who knows how many more big diamonds will be unearthed this year?

 

An Inside Look At What Really Goes Into Making a Diamond

By Leah Faye Cooper @Stylecaster

If you’re a regular reader of The Diamond Blog, you’ll know that we love to talk about the ‘diamond journey’ – the unique journey every natural diamond takes from mine to consumer. Our technologies are involved in the diamond process from the time it is extracted from the mine, to the moment it is sold to the buyer in a jewelry store. So we loved this article, in which journalist Leah Faye Cooper goes on the diamond journey herself, courtesy of De Beers, visiting the Jwaneng mine in Botswana, discovering that the senior mining engineer responsible is a woman, to the De Beers Sightholders Center, cutting, polishing and the eventual emergence of a Forevermark diamond. Fascinating stuff!

 

This Entrepreneur Lost Her Beloved Mentor. So She Started a Company That Turns Ashes Into $7,000 Diamonds

By Kevin J Ryan @Inc.

From dust to dust, or rather, from dust to diamonds…It’s not a brand new concept, but this article focuses on one of the stranger, yet slowly growing in popularity, methods of creating diamonds. Eterneva is a startup that produces lab grown diamonds from the ashes of cremated persons, as a meaningful memorial and tribute. More and more people are choosing to be cremated, and the new startup is capitalizing on this trend. In its first year, Eterneva earned $280,000 and expects to turn over $2 million in 2018. Passing fad or entirely new way to handle bereavement? Only time will tell.

 

Costco is selling diamonds worth $400,000 ‘between bulk AA batteries and dustpans’

By Hayley Peterson @Business Insider

Like so much news these days, this story was inspired by a tweet that went viral. A reporter with Sky News tweeted from a Costco store in Canberra, Australia with a photo of a 6.55ct diamond for sale at the retail warehouse giant, alongside “bulk AA batteries and dustpans”.

 

In fact, Costco sells diamonds in all its stores, offering a range of different sizes and qualities from $159 to $420,000. According to a Costco executive, they try to have one WOW diamond product in each store. Which explains the unusual find in the Costco branch in Australia’s far-flung capital city. But will it sell? That’s another question entirely…

 

Meghan Markle Will Be Given Diamonds on Her Wedding Day — Lots of Diamonds

By Marcia Moody @Popsugar

With the royal wedding just weeks away, speculation is running wild, from the dress to the hairstyle, to the jewelry of course. Although royal traditions are modernizing, the concept of ‘royal jewels’ is holding fast. The Duchess of Cambridge, Princess Kate, has a jewel box to die for. And there’s no reason to think that it will be any different for Markle. This article gives a roundup of the diamonds and jewelry given as gifts to the last three generations of royal brides. It’s actually incredible to imagine the amazing beauty and riches of the diamonds possessed by British royalty today. It’s gorgeous and we love it. Read on and drool!

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