De Beers

8 Stories

'Perfect' 100-Carat White Diamond Sells for $22M

Gem expert says transparency of auctioned jewel is like a 'pool of icy water'

(Newser) - An anonymous buyer is sporting some major bling after ponying up a tad over $22 million yesterday for a 100-carat diamond that Sotheby's likens to "the definition of perfection," the AP reports. It's the only white diamond of the classic emerald cut more than 100 carats... More »

Engagement Rings Are Actually 'Insulting'

Insulting 'to notions of actual love,' that is: Tauriq Moosa

(Newser) - Diamonds have "little intrinsic value," writes Tauriq Moosa in the Guardian , so when large South African diamond mines were discovered in the late 1800s and De Beers Consolidates Mines was formed, its investors realized they would need to conjure up demand. That they were incredibly successful with their... More »

Blue Diamond to Sell for Sky-High $5.8M

5.16-carat flawless 'fancy vivid' hits Hong Kong auction

(Newser) - An extremely rare, flawless blue diamond ring is going on auction today in Hong Kong and is expected to fetch a shimmering $5.8 million . The 5.16-carat gem is one of 12 diamonds originally from the DeBeers Millennium collection, displayed in London to celebrate the new century. The pear-shaped... More »

Downturn Dulls Gem Trade's Gleam

Effects felt worldwide as Americans stop buying bling

(Newser) - The worldwide slowdown in spending is making for rough times in all facets of the jewelry business, reports the Washington Post. More than a thousand jewelers in the US—which buys almost half the world's polished diamonds—have gone bust, and the effects are being felt from the mines of... More »

De Beers to Halt Work at Diamond Mines

Firm last suspended production during the Great Depression

(Newser) - De Beers has temporarily shut down its diamond mines in Botswana due to low demand for the precious stones, the Telegraph reports. The firm’s Botswana mines account for half of De Beers’ output, and about a fifth of diamond production worldwide. De Beers was not able to sell a... More »

Would You Mind If This Wasn't Mined?

Lab-created diamonds get ever closer to nature's version—to chagrin of some

(Newser) - De Beers might like you to think a “diamond is forever,” but try this on for size: “A diamond is for everyone.” In a secret Massachusetts lab, Apollo Diamond is using novel technology to grow diamonds virtually indistinguishable from their mined cousins, the Smithsonian reports. Unfortunately... More »

Diamonds Are a Girl's Best Refund

Class-action suit forces gem giant De Beers to cut consumers a check

(Newser) - If you bought a diamond—any diamond—between 1994 and 2006, De Beers owes you money. The jewelry behemoth recently settled a class-action lawsuit that accused it of driving up diamond prices with monopolistic practices. To compensate, it will pay consumers up to 59% of their bling’s original price.... More »

Tests Will Tell if Big Stone Is Indeed Gem

Could be world’s largest diamond

(Newser) - A South African mining company will know soon if they’ve found the world’s largest diamond, with tests scheduled for next week. The light-green stone was found several days ago; experts say it may turn out to only a fluorite crystal, the BBC reports. A spokesman for De Beers,... More »

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