John Willard Craiger, 83, fatally shot jeweler Ghazi “Gus” Michel Osta following an argument in the store.
Botswana’s Karowe Mine Yields Another Huge Stone
It weighs 1,758 carats and is described as being “near-gem of variable quality.”
Discovered over Easter weekend, the huge stone is still being analyzed, but Lucara described it as being “near-gem of variable quality,” meaning it is an industrial diamond with sections that could produce gem-quality stones.
The 1,758-carater is one of largest rough diamonds recovered in recent history, and the second 1,000-carat-plus stone recovered from Karowe since 2015.
The largest known gem-quality diamond in history is the Cullinan, which was found in South Africa in 1905.
There has been a larger stone recovered than the Cullinan—the 3,167-carat carbonado diamond dubbed the “Carbonado do Sergio” discovered in Brazil in 1895. Carbonado diamonds are industrial-quality stones that are opaque and believed to be found only in Brazil and the Central African Republic, Stephen E. Haggerty, a research professor at Florida International University in Miami, wrote in the summer 2017 issue of GIA’s Gems & Gemology.
Lucara recovered the huge stone using XRT (X-ray transmission) technology from Tomra Sorting Solutions, which designs and manufactures sorting equipment for the mining, food and recycling industries.
In the past, many large rough diamonds were crushed during recovery because De Beers, the main diamond miner at that time, did not have the technology to detect them and, to an extent, did not care, Gemological Institute of America Senior Analyst Russ Shor wrote in a 2016 research article.
Making money in diamond mining was about speed, he wrote, with the per-carat price differential between large (above 10 carats) and small diamonds not enough to make it worth De Beers’ while to retool its processing.
(De Beers actually was the company that discovered the kimberlite pipe at Karowe in 1969 but never commercially mined the deposit. It sold its final stake in the site to Lucara in 2010.)
RELATED CONTENT: Graff Cut This 302-Carat Diamond from Lesedi La Rona
Today, large diamonds fetch huge sums on the global market so miners are putting time and money into technology that spares them.
Tomra’s XRT is sensor-based bulk sorting that can pick out the diamonds even if they are coated, low-luminescent or Type II, the company says.
Lucara implemented XRT at Karowe in 2015 and, since that time, it said it has recovered 12 diamonds weighing 300 carats or more. Half of those dozen diamonds have been gem quality and sold for a total of more than $158 million.
This includes the 1,109-carat Lesedi La Rona, which turned up in fall 2015.
Lucara expects to keep finding large, high-quality diamonds at Karowe, noting: “Each deposit has a characteristic size distribution of diamonds … The vast majority of diamond mines have ‘fine’ distributions and host [very] few large/coarse diamonds, regardless of grade. The Karowe mine has a very coarse distribution of large diamonds, up to 5 times the world average.”
The Latest
In his latest column, Smith provides a list of questions every business needs to be asking their next potential leader.
Jérôme Lambert returns as CEO of Jaeger-LeCoultre, while Laurent Perves takes the lead role at Vacheron Constantin.
While no reputable jeweler would knowingly sell lab-grown stones as natural, it's a growing possibility.
The extravagant gifts in this year’s “A Neiman’s Fantasy” Holiday Book range from a Messika diamond necklace to pavé diamond cowboy boots.
Owners Greg and Lynn Bires are heading into retirement.
The industry veteran is remembered for his faith, his dedication to his family, his wealth of knowledge and his generosity in sharing it.
From protecting customer data to safeguarding inventory records, it's crucial to learn how to tackle cybersecurity challenges.
PricewaterhouseCoopers’ 2024 holiday trends survey took a 10-year look back to see what mattered to consumers then versus now.
Monique Lhuillier and Kay Jewelers collaborated to create the pieces, which were offered at the recent Baby2Baby gala.
Botswana joins Antwerp as a certification center for rough under the G7 ban on Russian diamonds.
Mignon Faget honors its hometown of New Orleans with a piece inspired by “The Crescent City.”
The London-based business-to-business diamond and gemstone marketplace just closed on a $51 million round of Series C funding.
“Forever Present” highlights gifting opportunities for natural diamonds, celebrating familial, friendship, and romantic relationships.
It’s one of the most impressive assemblages of the French designer’s pieces ever to come to auction, Christie’s said.
Successful email marketing campaigns are all about timing, personalization, and compelling CTAs, Emmanuel Raheb writes.
Retail leader Lisa Bridge and geology professor Dr. Wendy Bohrson joined the organization’s board.
Look out for a black bear wearing a purple Santa hat and its zippered tummy pouch made for holding a holiday gift from Ben Bridge Jeweler.
“The William Goldberg Way” was released in honor of the company’s 75th anniversary and 25 years of its proprietary Ashoka diamond.
Fenix and Dholakia Lab-Grown Diamonds have jointly acquired the Israel-based company, which grows diamonds using solar power.
The Danish brand has opened an appointment-only location on Madison Avenue in New York City.
The actor and watch enthusiast will be part of the show’s education lineup.
Step inside the nearly 21,000-square-foot suburban Chicago jewelry store with Editor-in-Chief Michelle Graff.
These punk-inspired earrings from the new Canadian brand’s debut collection reveal the alter ego of the classic pearl.
The company brings its nanotechnology to two new fancy cuts for diamonds that feature its signature color and brilliance.
Sponsored by Tasha R
Three Titanic survivors presented him with the personalized Tiffany & Co. timepiece about a year after the tragedy.