Dubai based diamond trading company, Nemesis International announces the reveal of the world largest “D coloured” diamond ever certified by GIA. The emerald cut diamond is priceless.
The reveal is held on 26th of September 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 providing state-of-the art services to the industry out of DMCC’s headquarter, Almas Tower in Dubai. The final result of this incredible journey is of 8 perfectly polished stones.
Dubai’s diamond industry has grown into one of the largest in the world, with over AED 92 billion (USD 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 by our sister company, Almas Diamond Services. 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.”
Hosted by DMCC, the Press Conference under the theme: ‘Disruption in Diamonds: Harnessing Innovation and Technology’ at the Almas Tower, JLT, Dubai brings together over 400 global industry professionals, including government officials, financiers, retailers and investors, to discuss the impact of technological innovation on the diamond industry, its supply chain and future prospects. The Conference is followed by an exclusive Gala Dinner.
“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.
“Technology holds one of the keys to unlocking the potential within the current challenging diamond sector. We acknowledge that adopting the latest innovations will help diamond specialists redefine the supply chain and in return, realise untapped opportunities. Situated at the crossroads of the world, Dubai has become one of the leading diamond trading hubs so there simply is no better place to have this important discussion,” he added.
DDC opens with keynote speeches by diverse specialists who provide a synopsis of the current global diamond industry and compare it to others that have faced similar challenges. Speeches are followed by three engaging panel discussions where speakers shed light on the latest trends in the diamond supply chain, including mining, polishing and trading, as well as process automation and technology-based judgement. The conference also touches on the rise of lab-grown diamonds and their value proposition to a niche consumer base, in addition to the social value created by the diamond industry.
September 2019 is a significant month for Dubai and its relationship with the international diamond industry. Immediately before DDC, the World Federation of Diamond Bourses (WFDB) and International Diamond Manufacturers Association’s (IDMA) Presidents Meeting takes place in the emirate on 24 and 25 September. On the evening of 25 September, DMCC also officially unveils its redesigned and upgraded Dubai Diamond Exchange (DDE), a state-of-the-art trading floor located in Almas Tower, Jumeirah Lakes Towers.