Latest news with #gemstone
South China Morning Post
5 days ago
- Business
- South China Morning Post
Into the blue: why brands from Dior to Chaumet and Giorgio B are falling for tanzanite, a gemstone from the hills of Mount Kilimanjaro first made famous by Tiffany & Co. in the 60s
A precious, deep blue gemstone is increasingly captivating jewellery designers. Tanzanite was first discovered in 1967 by Maasai herders in Tanzania's Merelani Hills near Mount Kilimanjaro and is still the world's only known source, meaning the stone remains very rare. Tanzanite was given its name by Tiffany & Co. – the first jeweller to market it – and the brand commanded a monopoly on the stone until the 1980s. Now, this vivid, blue-violet hued gem is animating collections from Dior to Chaumet, Pomellato to Mouawad, and even those of avant-garde creators Hemmerle and Giorgio B. Mouawad's Venus bangle features a tanzanite and pearl on a band of diamond-set white gold. Photo: Handout Advertisement Part of its allure is its more affordable price compared to sapphire, but the clarity and large carat sizes in which the stones are available add to their appeal. The price of unheated Kashmir and Sri Lankan sapphires is rising inexorably. A polished royal blue sapphire from Sri Lanka costs just under US$5,000 per carat, whereas a loose stone or a Kashmiri gem are too rare to consider for most. A necklace set with a lot of sapphires has suddenly become a very expensive item – and jewellers are rethinking their options. Dior's new high jewellery collection, Diorexquis, features a tanzanite parure with a 7.58-carat oval-cut tanzanite centre stone on a floral necklace and 4.84-carat tanzanite ring. There are also several voluminous tanzanite rings in Chaumet's high jewellery range; Pomellato has added it to their Nudo collection; and Mouawad's Venus collection pairs the stone with a pearl on a bangle, ring and earrings. Hemmerle earrings featuring tanzanite set in amaranth wood and anodised aluminium. Photo: Handout Meanwhile, Tanzanite's electrifying hue and volume brings a fresh energy to Munich-based Hemmerle's time-honoured metalwork, mounted in tonally complementary amaranth wood and anodised aluminium earrings for a very contemporary look. 'High quality tanzanite typically offers excellent clarity, enabling bold cuts that showcase its depth of colour,' explains Yasmin Hemmerle, who co-designs the collection with her husband Christian. 'Beyond its physical beauty, tanzanite carries a narrative of discovery, wonder and emotional resonance that aligns with Hemmerle's ethos of crafting intimate and contemporary heirlooms to be enjoyed every day.' After setting a 19.52 carat tanzanite in a curvaceous bombé ring last year, Giorgio Bulgari – founder of Geneva's Giorgio B and scion of the Bulgari jewellery family – became so bewitched by the stone's midnight blue colour that he spent months trying to create the perfect blue in titanium to match the gem. 'I couldn't find a metal to set it in that would look good, there was too much of a contrast, and then I started anodising titanium until I found a colour that would match the tanzanite tone on tone,' he says. This one-of-a-kind ring sparked an equally rare addition to Giorgio B's Palma collection, a show-stopping ring of blue titanium set with an emerald cut tanzanite that debuts this month. Advertisement
Yahoo
10-05-2025
- Business
- Yahoo
Lab-grown alternatives crush world's only diamond economy
When Botswana last year unveiled the second-largest diamond ever excavated, the country's now former president was quick to pose with the fist-sized gem. Mokgweetsi Masisi no doubt hoped some sparkle from the 2,492-carat stone would rub off on his beleaguered administration and the mining industry that keeps Botswana afloat. The small southern African nation is more dependent than any other country on diamonds, which make up a third of revenue and the majority of exports. Botswana has been particularly badly hit by a dramatic slump in demand, which has blown a hole in the finances of one of Africa's richest and most stable countries. Slowing business in China and the hangover from a pandemic spending splurge have both knocked prices, but worryingly diamond miners more than anything else has seen the dramatic rise of laboratory-grown stones. These artificially made gems are chemically identical to natural diamonds, and can only be told apart by expert testing. Yet they are grown in a matter of days in laboratories, rather than formed over geological ages deep in the earth. As a result, they are a fraction of the price, allowing consumers to buy diamond jewellery for less, or get a much bigger stone for the same money. Advocates also argue they are more ethical, because they avoid the environmental and human rights issues that have at times haunted the mining industry. While natural stones still command a higher price, the cost of each one has tumbled and laboratory-made stones have taken a big chunk of the market. By last year, as many as 45 per cent of engagement rings sold in America were set with lab-grown diamonds. The US retail price of a one-carat natural diamond has fallen by 32 per cent to £3,480 ($4,618) since the peak in May 2022, according to Tenoris, which tracks prices. The retail price of a similar lab-grown diamond has fallen 75 per cent since the start of 2020, to £625 ($828). Paul Zimnisky, an expert on the market, said: 'I wager there have been three major factors that have subdued the diamond market over the last three years. The more widespread distribution of man-made diamonds is one of them. 'The other two are: a severe luxury recession in China and an overall global hangover from boom years in 2021 and 2022, where people bought enough diamonds for a while.' All this has put pressure on Botswana, and the impact of the slump spurred voters to oust Mr Masisi's government in October 2024. Ndaba Gaolathe, the new vice president and finance minister, has now warned of deep spending cuts and said the government is preparing to make 'drastic' fiscal adjustments to stay afloat. 'The first thing we need to do, obviously, is to live within our means,' he said late last month. 'That means cutting spending — doing away with what we believe is some of the fat.' Botswana has tried to diversify its economy so it is less reliant on diamonds, but has a long way to go. Zoë McCathie, a country risk analyst at Signal Risk, said: 'Botswana's economic position will remain subdued for as long as the diamond slump continues. 'Dependence on diamonds will also be a longer-term economic headwind for the country.' 'Going forwards, the new government's ability to diversify the economy and facilitate recovery in the diamond sector will be essential for retaining popular favour.' Amid the downturn, mining giant Anglo-American is seeking to off-load its De Beers diamond arm, which is partly owned by Botswana. De Beers, the world's largest diamond producer, is meanwhile trying to revive demand by using marketing muscle to persuade consumers of the natural stones' worth. Botswana and De Beers recently signed a 10-year deal to fund global marketing efforts. The industry has been built on some of the most successful marketing campaigns in history, including the idea that a diamond is forever. Producers are now hoping they can regain that magic and persuade shoppers that lab-made diamonds are no substitute for a natural sparkler. The Natural Diamond Council, set up by producers, insists that 'the immense time and geological forces behind every natural diamond make them some of the rarest treasures on Earth, adding to their value and significance'. It is also trying to correct what it says are inaccuracies, and employing celebrities like the actress Lily James as ambassadors for their stones. Producers say high energy costs mean lab-made stones are not as environmentally sensitive as they claim, and insist that natural stones will still hold their value better. Mr Zimnisky said: 'Diamonds are a luxury product. For consumers, it's an emotional purchase. Thus marketing is key. The diamond industry is famous for its marketing campaigns. Stakeholders in the industry cannot forget this.' Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Telegraph
10-05-2025
- Business
- Telegraph
Lab-grown alternatives crush world's only diamond economy
When Botswana last year unveiled the second-largest diamond ever excavated, the country's now former president was quick to pose with the fist-sized gem. Mokgweetsi Masisi no doubt hoped some sparkle from the 2,492-carat stone would rub off on his beleaguered administration and the mining industry that keeps Botswana afloat. The small southern African nation is more dependent than any other country on diamonds, which make up a third of revenue and the majority of exports. Botswana has been particularly badly hit by a dramatic slump in demand, which has blown a hole in the finances of one of Africa 's richest and most stable countries. Slowing business in China and the hangover from a pandemic spending splurge have both knocked prices, but worryingly diamond miners more than anything else has seen the dramatic rise of laboratory-grown stones. These artificially made gems are chemically identical to natural diamonds, and can only be told apart by expert testing. Yet they are grown in a matter of days in laboratories, rather than formed over geological ages deep in the earth. As a result, they are a fraction of the price, allowing consumers to buy diamond jewellery for less, or get a much bigger stone for the same money. Advocates also argue they are more ethical, because they avoid the environmental and human rights issues that have at times haunted the mining industry. While natural stones still command a higher price, the cost of each one has tumbled and laboratory-made stones have taken a big chunk of the last year, as many as 45 per cent of engagement rings sold in America were set with lab-grown diamonds. The US retail price of a one-carat natural diamond has fallen by 32 per cent to £3,480 ($4,618) since the peak in May 2022, according to Tenoris, which tracks prices. The retail price of a similar lab-grown diamond has fallen 75 per cent since the start of 2020, to £625 ($828). Paul Zimnisky, an expert on the market, said: 'I wager there have been three major factors that have subdued the diamond market over the last three years. The more widespread distribution of man-made diamonds is one of them. 'The other two are: a severe luxury recession in China and an overall global hangover from boom years in 2021 and 2022, where people bought enough diamonds for a while.' All this has put pressure on Botswana, and the impact of the slump spurred voters to oust Mr Masisi's government in October 2024. Ndaba Gaolathe, the new vice president and finance minister, has now warned of deep spending cuts and said the government is preparing to make 'drastic' fiscal adjustments to stay afloat. 'The first thing we need to do, obviously, is to live within our means,' he said late last month. 'That means cutting spending — doing away with what we believe is some of the fat.' Botswana has tried to diversify its economy so it is less reliant on diamonds, but has a long way to go. Zoë McCathie, a country risk analyst at Signal Risk, said: 'Botswana's economic position will remain subdued for as long as the diamond slump continues. 'Dependence on diamonds will also be a longer-term economic headwind for the country.' 'Going forwards, the new government's ability to diversify the economy and facilitate recovery in the diamond sector will be essential for retaining popular favour.' Amid the downturn, mining giant Anglo-American is seeking to off-load its De Beers diamond arm, which is partly owned by Botswana. De Beers, the world's largest diamond producer, is meanwhile trying to revive demand by using marketing muscle to persuade consumers of the natural stones' worth. Botswana and De Beers recently signed a 10-year deal to fund global marketing efforts. The industry has been built on some of the most successful marketing campaigns in history, including the idea that a diamond is forever. Producers are now hoping they can regain that magic and persuade shoppers that lab-made diamonds are no substitute for a natural sparkler. The Natural Diamond Council, set up by producers, insists that 'the immense time and geological forces behind every natural diamond make them some of the rarest treasures on Earth, adding to their value and significance'. It is also trying to correct what it says are inaccuracies, and employing celebrities like the actress Lily James as ambassadors for their stones. Producers say high energy costs mean lab-made stones are not as environmentally sensitive as they claim, and insist that natural stones will still hold their value better. Mr Zimnisky said: 'Diamonds are a luxury product. For consumers, it's an emotional purchase. Thus marketing is key. The diamond industry is famous for its marketing campaigns. Stakeholders in the industry cannot forget this.'
Bloomberg
08-05-2025
- Business
- Bloomberg
Alrosa Unearths Russia's Biggest Jewelry-Quality Diamond
Alrosa PJSC said it mined Russia's largest ever diamond of jewelry quality. The company extracted the 468.30-carat, amber-colored gem in Yakutia in the country's Far East, according to a statement on Thursday.
