{"id":1161251,"date":"2020-01-22T05:28:32","date_gmt":"2020-01-22T11:28:32","guid":{"rendered":"https:\/\/www.mining.com\/?p=1011902"},"modified":"2020-01-22T05:28:32","modified_gmt":"2020-01-22T11:28:32","slug":"louis-vuitton-is-turning-the-worlds-second-biggest-diamond-into-jewellery","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1161251","title":{"rendered":"Louis Vuitton is turning the world\u2019s second-biggest diamond into jewellery"},"content":{"rendered":"<p>Luxury retailer Louis Vuitton <a href=\"https:\/\/twitter.com\/LucaraDiamond\/status\/1219753812669485056\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">has unveiled<\/a> its recently acquired 1,758-carat rough diamond, the second-largest ever discovered, to a select audience in Paris, France, before its turns it into a fine jewellery collection.<\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The 166-year-old\u00a0fashion house, which <a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/www.mining.com\/lucara-cuts-deal-to-cut-diamond-with-louis-vuitton\/\" >announced last week<\/a> it was the new owner of the Sewel\u00f4 diamond, meaning \u201crare find\u201d in Southern Africa\u2019s Setswana language, will now leave it in the hands of Belgium\u2019s HB. <\/p>\n<p>The Antwerp-based diamond manufacturer will cut and polish the blackened, tennis-ball sized stone, found last year by Canada\u2019s Lucara Diamond (TSX:LUC).<\/p>\n<p>While the mining company has not<br \/>\nrevealed how much it sold the diamond for,&nbsp;it said it would be cut into smaller<br \/>\npieces, part of a fine jewellery collection.<\/p>\n<p>According to HB, Louis Vuitton paid<br \/>\n50% &nbsp;up front for the diamond, with Lucara<br \/>\nkeeping an interest in the other half. Both player have also agreed to direct 5%<br \/>\nof the proceeds from the retail sales to community-based initiatives in<br \/>\nBotswana.<\/p>\n<p>Before Lucara found Sewel\u00f4, the<br \/>\nprevious holder of&nbsp;the world\u2019s second-largest diamond was held by the&nbsp;<a href=\"https:\/\/www.mining.com\/worlds-second-largest-diamond-ever-found-named-our-light\/\"  rel=\"noreferrer noopener\">1,111-carat&nbsp;\u201cLesedi La Rona\u201d<\/a>, also dug up by the<br \/>\nVancouver-based miner,&nbsp;in 2015. The rock&nbsp;sold for $53 million&nbsp;to<br \/>\nluxury jeweler Graff Diamonds in 2017.<\/p>\n<p>The only larger diamond ever<br \/>\nunearthed was the 3,106-carat Cullinan Diamond, discovered in South Africa in<br \/>\n1905. The Cullinan was later cut into smaller stones, some of which now form<br \/>\npart of British royal family&#8217;s crown jewels.<\/p>\n<p>What makes Sewel\u00f4 special,<br \/>\naccording to Melissa Smet, director of the Syndicate of the Belgian Diamond<br \/>\nIndustry (SBD), is its \u201cmysterious\u201d nature.<\/p>\n<p>\u201cThe stone is covered in black carbon, and the quality of the diamond under that layer remains a mystery,\u201d she <a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/www.brusselstimes.com\/all-news\/belgium-all-news\/90974\/west-flanders-governor-calls-for-drones-at-coast-to-stop-migrants-crossing-to-uk-boat-sank-14-refugees-de-panne-calais-france-frontex\/\" >told <em>The Brussels Times<\/em><\/a>. \u201cThere is no guarantee that the diamond will produce precious stones of high quality, which means a great risk.\u201d<\/p>\n<p>Karowe, which began commercial<br \/>\noperations in 2012, yielded last year more than 20 diamonds larger than 100<br \/>\ncarats, eight of them exceeding 200 carats.&nbsp;<\/p>\n<p>Lucara, which has <a href=\"https:\/\/www.mining.com\/lucara-diamond-focus-bostwana-mine-year\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">focused efforts on the prolific Botswana\u00a0mine<\/a> as of late, is close to completing a feasibility study into potential underground production and extension of the mine\u2019s productive life.<\/p>\n<p>Louis Vuitton&#8217;s purchase is just<br \/>\nthe latest move its parent company, LVMH, has taken into the luxury jewellery<br \/>\nmarket. The conglomerate also owns Italian jewellery brand Bulgari and<br \/>\nwatchmakers TAG Heuer and Hublot, and in November, it acquired the iconic New<br \/>\nYork jeweller Tiffany &amp; Co. for&nbsp;more than $16 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 1,758-carat Sewel&ocirc;, grabbed by the luxury brand last week, is world&rsquo;s second-largest rough diamond.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[369,4,2857],"tags":[],"class_list":["post-1161251","post","type-post","status-publish","format-standard","hentry","category-miningcom","category-news","category-suppliers-equipment"],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1161251","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1161251"}],"version-history":[{"count":5,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1161251\/revisions"}],"predecessor-version":[{"id":1161332,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1161251\/revisions\/1161332"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1161251"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1161251"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1161251"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}