This week in the world of diamonds:
The National Mineral Development Corporation(India’s state mining company) appears to be preparing to bid for a huge diamond project in Madhya Pradesh. This large Indian state has the biggest reserves of diamond and copper in the country. The site (known as the Bunder mine) holds about 32 million carats of diamonds (!) and has caught the interests of many. According to Reuters sources, auctioning will begin this month.
Get your cameras ready! The Rapaport Group (an authority on the diamond and jewellery markets) is running a competition to promote the Peace Diamond. This stunning 709-carat diamond was discovered by diggers in Sierra Leone, and represents the life-changing potential of diamond discovery – over 50% of the jewel’s sale value will go directly back into the Sierra Leone community.
If you want to get involved with promoting this message through the Rapaport vid challenge, head here!
The Pink Raj is predicted to fetch £23 million at auction next week. It’s attracted a great deal of attention as the biggest pink diamond in the world. Weighing an incredible 37.30 carats, it will be up for sale in Geneva between the 11-15 November.
Jewellery and engagement study by leading wedding brand The Knot shows that in the US, the average proposal involves 4.4 months of pre-planning, and the average engagement ring price is $6,351 (approximately £4,834). More findings about the all-important ring:
– The proposer looks at an average of 26 rings before deciding on one
– 52% of engagement rings feature a round cut stone
– The most popular setting metal is white gold.
Coco Chanel releases new diamond watch, called the Code Coco. Seemingly designed to appeal to both watch and bracelet lovers, the face of the watch features a numberless dial and a single square diamond that adds the perfect hint of glamour. Find out more about this intriguing timepiece here.