UAE Shows Off One of The World's Largest Diamonds at $63 Million

Published September 26th, 2019 - 09:17 GMT
(Shutterstock/ File Photo)
(Shutterstock/ File Photo)
The emerald cut diamond is priceless.

Nemesis International, a Dubai-based diamond trading company, on Thursday revealed the world's largest 'D coloured' diamond ever certified by GIA. The emerald cut diamond is priceless.

The reveal was held during DMCC's fourth edition of its highly anticipated Dubai Diamond Conference (DDC).

The diamond comes from the world's most valuable rough diamond, 'The Constellation', with a weight of 812.77 carats and record purchase price of $63 million. The evaluation, maping and polishing process took over 18 months to complete, utilising the most technologically advanced equipment available to the diamond industry today and was mainly processed and completed here in the UAE by Almas Diamond Services, a sister company of Nemesis International. The final result of this incredible journey is of eight perfectly polished stones.

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Dubai's diamond industry has grown into one of the largest in the world, with over Dh92 billion ($25 billion) traded through the emirate in 2018 alone and Dubai now standing as a leading global diamond center on par with New York, Antwerp and Mumbai. Nemesis International aims to continuously contribute to UAE's diamond and jewellery industry, country's GDP, economic growth and stability.

Konema Mwenenge, CEO of Nemesis International, said: "We are extremely proud to present the rarest D coloured diamond, which was cut and polished over the last 18 months here in the UAE. We are keen to build a legacy for these diamonds, in recognition of the emergence of the diamond industry in the UAE on the world stage. This incredible achievement is initiated by craftsmanship and leadership inspired by a "new industry" in the region. Our intention is to show the geological importance, the technology and craftsmanship involved."

"We realise that the industry is at an inflection point. The objective of DMCC's Dubai Diamond Conference is to convene the industry, debate the state of the current market and understand how best to adapt. Diamonds are formed under great pressure and the insights shared during the conference will help charter a path for the growth of the industry," said Ahmed bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC.

This article has been adapted from its original source.

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