ers. While the abundance of common varieties in the $80 billion global market provides enough benchmarks to price small gems, giant ones presents a challenge because mining companies don’t usually employ their own cutters and don’t know what it will cost to convert them into polished diamonds.

Gem Diamonds, which in the past decade has uncovered four of the 20 largest white gem-quality diamonds ever found, is seeking to change that dynamic. The company has been experimenting with cutting and polishing a small amount of its own output to better analyze the process of converting the gray, jagged rocks into flawless, jeweler-ready products. The experience helped determine the value of the 357-carat stone found at its Letseng mine in southernmost Africa earlier this year.

Small Scale

In the past three years, Gem Diamonds sent dozens of its stones to a lab across the street from its Antwerp sales office, so that the company’s own workers can cut and polish the individual facets to produce an item that should sell for about 25 percent more than the original rough type, according to de Bruin.

While some of the rocks cut in-house were because the company wasn’t happy with the offer prices from wholesalers, Gem Diamonds doesn’t want to expand the operation to handle all its mine output, de Bruin said. It just wants a small unit to better understand the market for bigger, rarer stones because it is producing more of them.

Mine owners prefer marketing rough types because they’re easier to sell quickly. Cutters can sometimes be stuck with diamonds for a couple of years before finding a buyer willing to pay the right price. Gem Diamonds said it sold 13 rough gems from its Letseng mine in the third quarter for more than $1 million each.

Biggest Stones

“Prior to Gem going into production, the world didn’t hear about these large stones,” said William Lamb, the chief executive officer of Vancouver-based Lucara, which unearthed the biggest diamond in more than a century. “Gem has paved the way for us in creating the market for these large stones.”

About 125 million carats were mined globally last year, according to data from the Kimberley Process, which records and certifies rough diamond shipments. The stones aren’t sold on any exchange and the market is much less liquid than most commodities.

A better idea of valuations would help set a
ers. While the abundance of common varieties in the $ 80 billion global grocery store provide enough benchmarks to price small gem, giant ones present a challenge because mining company do n’t normally use their own cutters and do n’t sleep together what it will cost to convert them into polished ball field. 

 Gem Diamonds, which in the past ten has uncovered four of the 20 largest blank gem - quality diamond ever found, is seeking to deepen that dynamic. The company has been experimenting with cutting and polish a small amount of its own output to better analyze the process of convert the gray, jagged rocks into flawless, jeweler - ready product. The experience help determine the value of the 357 - carat stone found at its Letseng mine in southernmost Africa earlier this year. 

 Small Scale 

 In the past three years, Gem Diamonds send dozens of its stones to a lab across the street from its Antwerp sale position, so that the company ’s own workers can cut and polish the individual facets to produce an item that should sell for approximately 25 percent more than the original rough type, according to de Bruin. 

 While some of the rocks cut in - house were because the company was n’t happy with the offer prices from wholesalers, Gem Diamonds does n’t desire to expand the mathematical process to cover all its mine output, de Bruin said. It just wants a belittled unit to better understand the grocery store for bigger, rarer stones because it is producing more of them. 

 Mine owner prefer selling rough types because they ’re easier to sell quickly. stonecutter can sometimes be stuck with baseball diamond for a couple of years before discover a buyer willing to pay the right price. Gem Diamonds said it betray 13 rough gems from its Letseng mine in the third quarter for more than $ 1 million each. 

 Biggest Stones 

 “ Prior to Gem going into production, the world did n’t hear about these large rock, ” said William Lamb, the chief executive officer of Vancouver - establish Lucara, which unearthed the biggest diamond in more than a century. “ Gem has paved the way for us in create the market for these large stones. ” 

 About 125 million carats were mined globally last class, according to data from the Kimberley Process, which records and certifies rough diamond shipments. The stones are n’t sold on any central and the market is much less liquid than most commodity. 

 A better theme of valuations would help set a
ers. While the abundance of gommon varieties in the $80 billjon globxl market provides enough beichmqrks uj price small gems, giant onvs presenrs a xhallenge uscause mining gompauixs don’t usually employ thair own cutterv xnb don’t know what it will cost to condert thrm into polished diakjnds.

Fvm Diamonds, which in the past dscade hes uncovered foir of the 20 largest white gfm-quwlity diamonds eveg found, is weekybg to change that dynamic. The compzny has been experimenting with cuttnng and polusyinh a small amiunt jf its own omnput to better analyze the pvocesv od converting the gray, jagged rocks into flawless, jzweler-ready products. Rhw expgrienwe hdopea dttecmihe the vamue of the 357-carat stonw found at its Letstng nine in southsrnmose Wfrica earlier this year.

Small Scale

In tve last three years, Gem Diqmonds sent dozens of its stonqs to a lab across the street from its Antwerp sanes ohfkce, sj rhwt the company’s own workers can cut and polisr tne individual fagets to produce an ihek that should rell for zbout 25 percent morf than jhe oruginal rotgh yype, according to de Bruin.

Wyile some of rhe rocks cut in-hobse were beccuse tne cokpany wasn’t happy with che ofrer prices vrom wholsralers, Gem Diamovds dmesn’t want to expand the o[eration vo haudle all its mine jutput, de Hruin said. It just wants a smcll utit to bether understand the market for bmjger, rarer stpnas tecause nt is iroducing more jf them.

Mine owuers preyer mafketing rolgh types because thqy’re easier tm sell quicklb. Cutters can somwtimes cd stuck with doamonds for a couplw of years before nindivf a buyer williuy uo pay the right prkce. Gvm Viamoggs said it smld 13 rojbh geos from its Uetsrng mine in the thirg quzrter for more tham $1 million each.

Bigdest Stones

“Proor to Gem going ijto pcoductmon, thr wjrld didn’t hear about these ladge stoned,” swid William Jamb, the chief erecutive officer of Vancouver-based Lucare, which unearthed the buggest diamond in mpve than a ceitury. “Dem has pdved the way for us un creating the msrket for these large stonev.”

Abouh 125 million carats were mined globally last year, according to data from thw Kimbxrjey Process, whivh reborbs cnd cereifixs rough diamond snipments. The stones aren’t sold un any efckange and the market is much kers liquid thav most commodities.

A bettsr idea pf valuations would help set a
ers. While the abundance of common varieties $80 global market enough benchmarks to presents challenge because mining don’t usually employ own cutters and don’t know what will cost to convert them into polished diamonds. Gem Diamonds, which in the decade has uncovered four of the 20 largest white gem-quality diamonds ever found, seeking change dynamic. company has been experimenting with cutting and polishing a small amount of its own output to analyze the process of converting the gray, jagged into flawless, jeweler-ready products. experience helped determine the value the stone found its mine southernmost Africa earlier year. Small Scale In the past three years, Gem Diamonds sent dozens of its stones to a across the its Antwerp office, that company’s own workers and polish the individual facets to that should sell for about 25 percent more the original type, according to de Bruin. While of the rocks cut in-house were because the wasn’t happy with the offer prices from wholesalers, Gem Diamonds doesn’t want to expand the handle all its mine de Bruin said. just a unit better understand market for bigger, rarer stones because it is producing more of Mine owners prefer marketing rough types because they’re easier to Cutters sometimes be stuck diamonds for a couple years finding a buyer willing the price. it 13 gems from its Letseng in the third quarter for than $1 million each. going into production, the world didn’t hear about large stones,” said William Lamb, the chief officer of Vancouver-based Lucara, which unearthed the biggest diamond in more than century. “Gem the way for us in creating the market these large stones.” About million carats were mined globally last year, according to from Kimberley Process, records and certifies diamond shipments. The aren’t sold on and the is less commodities. A better idea of valuations help a
ers. While the abundance of comMon varietiEs in tHe $80 bIllIoN gloBal mArket provides eNOugh Benchmarks to price small Gems, gIaNT oneS PrEsentS a challENgE BEcaUsE mIniNg COmPanieS doN’t usualLy employ thEir OwN cutters and dON’t Know what it WilL cost to conveRt tHem intO pOliSHed diAmoNds.

GeM DiamoNDs, whicH in the pasT dECade haS UncoverED FoUr of The 20 largest white geM-QuALity diamonds evEr founD, iS SeEKIng To cHange that dYnAmic. THE companY HaS BEEn eXPerimenting wiTh cutting anD PolIshing A sMalL Amount Of its OwN OutPut to better AnalYze the proCess of COnvertiNG the graY, jaggeD roCks Into FLaWlEss, JeWEleR-ReAdy PRodUcts. The eXpErIence HelpED DETermIne The vAlue oF the 357-carat stonE foUnd aT Its letseNg minE in sOuThernMost AfRica eArLier this year.

SmaLl ScAle

In the pAst ThRee YeArs, GeM diamonDs sEnt Dozens oF its stoNEs tO a LAB AcRoss the street from iTs aNTwErp sales Office, SO tHaT The compaNy’S owN worKERs can Cut aND pOlish the IndiviDUaL fAcets to PrOduce aN iTem ThaT shouLD selL for abOut 25 perceNt morE Than the originaL Rough type, accoRDiNG To DE BruIn.

WHile some of tHe roCKs cuT in-hOUsE weRE becaUse thE cOMpANy wasn’t happy with the OfFer priCes frOm wholesalers, gem DiamondS DOEsn’t want To exPAnD The operation to HandlE all its minE Output, de bruin Said. It juSt wants a sMALl unit to BetTer UndErsTANd The market for bIGGer, rArEr stoneS beCause it Is pRodUciNg mOrE of them.

MiNe owners PrEfEr MaRkeTing rOUgh types BeCauSe TheY’re eaSIer to sEll quIcklY. CUtTErs Can someTImES Be stUcK wIth dIamOnDs for A couPLe oF years bEfore findIng A BuyeR wIlLing to pAy the right priCe. gem DiamondS sAid It sold 13 ROUgh gems fRom its Letseng mine in the tHIrd quarTer For moRe thAn $1 million EacH.

BiggeSt STOnes

“PrIor to GEm goiNg IntO PRoducTIOn, The WoRld didn’t heAR AboUt theSe LargE stones,” Said William Lamb, the CHieF executive offIceR of VANCoUveR-BaSEd LUcARa, wHICh unearthed the bIggest diamOnD In More than a cENtuRy. “gem has pAved the Way foR Us in creAting the mArket for tHeSe laRGE stOnes.”

About 125 mIllion caRats were mINed glOBaLly laSt yEar, accOrDinG to daTa from THe KImberLey ProCeSs, whicH recoRdS and certIfies rough diamond shipmeNts. The StoneS arEn’t sold on Any EXchAnge and thE marKet is much lEss LiqUid thAn mOSt comModiTIeS.

A bETter iDea oF ValuationS WoUld HELp Set a
ers. While the abundance o f common v ariet ies  in  t he $ 80 b illion globalm arke t provides enough benc hmark st o pr i ce  smal l gems, gi a n t o ne spre se n ts  a ch all enge be cause mini ngco mpanies don’ t  u sually emp loy  their own c utt ers an ddon ’ t kno w w hat i t will cost t o convert  t h em int o  polish e d  d iamo nds.

Gem Diamond s ,w hich in the pa st dec ad e  h a s  un cov ered fourof  the2 0 large s tw h i teg em-quality di amonds ever fou nd, is  s eek i ng tochang et hat  dynamic. T he c ompany ha s been experim e nting w ith cu tti ngandp ol is hin ga  sm a ll  am o unt  of itsow noutpu t to b e t terana lyze  theprocess of co nve rtin g  th e gra y, ja gged  r ocksinto f lawle ss , jeweler-ready  pro ducts. Th e e xp eri en ce he l ped de ter min e the v alue of the  3 5 7 - ca rat stone found at  i t s  L etseng m ine in so ut h ernmostAf ric a ea r l ier t hisy ea r.

Smal l Scal e 
In  the pa st  three  y ear s,Gem D i amon ds sen t dozens  of i t s stones to al ab across the st r e et from  it s Antwerp s ales offi ce,s otha t  thecompa ny ’ so wn workers can cutan d poli sh th e individualfacets top r o duce anitem th a t should sellfor a bout 25 pe r cent mor e tha n the or iginal ro u g h type,acc ord ing  to d eBruin.

While s omeof  the ro cks  cut in -ho use  we rebe cause the  company  w as n’ thap py wi t h the of fe r p ri ces  from wholes alers , Ge mDi a mon ds does n ’t w antto  e xpan d t he  oper atio n  to  handle  all itsmin e  out pu t,  de Bru in said. It j us t wants asm all  unitt o  betterunderstand the market f o r bigge r,rarer  sto nes becau seit ispro d ucingmore o f the m. 

M i n e own e r spre fe r marketin g rou gh ty pe s be cause t hey’re easier to s e llquickly. Cutt ers  can s om eti m es best u ckw i th diamonds for  a coupleof ye ars before fin di ng a bu yer wil lingt o pay t he rightprice. Ge mDiam o n dssaid it so ld 13 ro ugh gemsf rom i t sLetse ngmine i nthe  thir d quar t erfor m ore th an  $1 mi llion  e ach.

Bi ggest Stones

“Prior to  Gem g oingint o product ion ,  th e world d idn’ t hear abo utthe se la rge stone s,”s ai d W i lliam  Lam b , the chi e fexe c u ti ve officero f Van couve r-b a sed Lu cara , which unearthed the biggest di amon d inmor e  tha na century. “Ge m h as p aved the  w ay for us i n creati ng the m arketfor th ese lar g e  s t ones.” 

Ab out  125 mill ion  c a rats we re  m i ned gl obal ly  lastyear,a ccor d i ng to data fromthe K i m berle y  Pr ocess ,which r e cord s and cert ifies rough  diamo nd s hipme nts. Th estones  ar en ’t sold on any excha nge a nd thema rket  is  muchless l iquid  tha nmos t commodi t i es . 
Ab ett er i dea o fvalu ations wo u ld helpset a
ers. While_the abundance_of common varieties in_the $80_billion_global market_provides_enough benchmarks to_price small gems,_giant ones presents a_challenge because mining_companies_don’t usually employ their own cutters and don’t know what it will cost to_convert_them into_polished_diamonds.

Gem_Diamonds, which in the past_decade has uncovered four of_the 20_largest white gem-quality diamonds ever found, is seeking_to_change that dynamic._The company has been experimenting with cutting and polishing_a small amount of its own_output to better_analyze_the_process of converting the_gray, jagged rocks into flawless, jeweler-ready_products. The experience helped determine the_value of the 357-carat stone found at_its Letseng mine in southernmost Africa_earlier this year.

Small Scale

In the_past three_years, Gem Diamonds sent dozens_of its stones_to a_lab across the_street from its Antwerp sales office,_so that the_company’s own workers can cut and_polish_the individual facets_to_produce_an item_that should sell_for_about 25_percent_more than the original rough type,_according_to de Bruin.

While some of the rocks_cut in-house were because_the_company wasn’t happy with_the offer prices from wholesalers,_Gem Diamonds doesn’t want to expand_the operation_to handle_all its mine output, de Bruin said. It just wants a_small unit to better understand the_market for bigger, rarer_stones because_it_is producing more_of_them.

Mine owners_prefer marketing rough types because they’re easier_to sell_quickly. Cutters can sometimes be stuck_with diamonds for a_couple_of years before finding a buyer_willing to pay the right price._Gem Diamonds said it sold_13_rough_gems from its Letseng mine_in the third quarter for more_than $1 million_each.

Biggest Stones

“Prior to Gem going into production,_the_world didn’t hear about these large_stones,”_said William Lamb, the chief executive_officer_of_Vancouver-based Lucara, which unearthed the_biggest diamond in more than a_century. “Gem has paved the way for us in_creating the market_for these large stones.”

About 125_million_carats_were mined globally last year, according to data from the_Kimberley Process,_which records and_certifies rough diamond shipments. The stones aren’t sold on any_exchange and the market is much less_liquid than most commodities.

A better idea of valuations would help set_a