Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
IDEX reports on Wednesday Sotheby’s is auctioning a 9.27-carats fancy vivid pink emerald-cut diamond at a sale that will likely attract collectors that have not seen such stones auctioned for a while.
Collectors and dealers have paid top prices for exceptional diamonds at auctions in Hong Kong, repeatedly setting record prices, but offerings like the rare VVS1 clarity pink diamond carrying a pre-sale estimate price of $12.8-$19.2 million, have been scarce recently. If the gem sales at the upper end of the range it could set a new per carat record of $2 million-plus.
Diamond World reports its Type IIa classification signifies that it is among less than 2 percent of the world’s gem diamonds that are virtually free of nitrogen in their chemical composition.
IDEX Online News reports the upcoming auction may mark a return to high bids, especially as collectors keep looking for alternative investment venues.
MINING.com took a jaundiced view of the market for coloured diamonds last week:
There is no better indication that coloured diamonds are spearheading record auction prices than news that a yellow weighing slightly less than the 33-carat flawless D-colour Liz Taylor wore every day, is expected to fetch three time as much as the Hollywood legend’s gem when it goes on sale next month.
Image is courtesy of Sotheby’s.
3 Comments
Leed333
A natural fancy purple diamond is the only stone that can surpass overall character of this PINK
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it’s nice, I wish the company more of such a marvelous diamond.
And i need a supporter, in order to complete my mining project.
i am a diamond operator in my country.
godfried
rio tinto had made a big discovery that is great for them and for the world..i would say nature is perfect i only knew about the blue saphire now a pink one again its great progress in the mining industry,,