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.
“Martian Pink,” the biggest pink diamond ever to appear at an auction, is expected to fetch more than $8 million when it is sold at Christie’s Magnificent Jewels Spring Sale on May 29 in Hong Kong, reports KeycTV.
The 12 .04-carat fancy intense pink diamond was purchased by a private collector in 1976 and it was named by American jeweller Ronald Winston to celebrate the first satellite mission to Mars by the US in the same year. The natural pink diamond is very rare since it exhibits no trace of secondary colours.
While most natural pink diamonds have a tinge of purple, grey or orange to them, this stone shows no trace of a secondary colour.
The pink rock was displayed in Beijing and Shanghai earlier this month, as part of a world preview tour that will culminate in Hong Kong later this month, where it will be auctioned. It is one of the only two significant sized round pink diamonds in the world. The other is the 23.60-carat Williamson Pink diamond, which was presented to Queen Elizabeth II in 1947 as a wedding gift.
Offered alongside this pink diamond is an 11.85-carat D VVS1 potentially flawless round brilliant-cut diamond owned by Harry Winston, valued at more than $1.7 million.
Photo credit: CHRISTIE’S IMAGES LTD 2011
