The top item at Christie’s Geneva Magnificent Jewels sale in November will be The Pink Legacy, an 18.96-carat fancy vivid pink diamond expected to fetch up to $50 million.
Blockchain technology and the smart contracts it enables are the next innovations the mining industry needs to adopt in order to improve efficiencies and increase market transparency, a paper published by global law firm White & Case says.
According to Lucapa, policy shifts in the southern African country allow management to plan for the sale of such high-value stones, something the company was not able to do before.
The world’s top diamond producer by value has led industry efforts to both verify the authenticity of diamonds and ensure they are not from conflict zones where gems may be used to finance violence.
The move makes the company the first mining major to request exploration permits in the country since President João Lourenço vowed to open up the sector and encourage foreign investment.