Today's Edition
ALLAN JACOB (DUBAI)
A diamond in the rough, literally, is now in Dubai, and its value has risen exponentially, though the price remains under wraps, a mystery so to speak. Its origins, however, and history, are now part of gem folklore. The Infinity diamond, a unique 888.88-carat black natural stone, whose value and potential was seen 50 years ago, made its debut in the UAE on Monday, drawing gasps from the crowds at the Dubai Diamond Conference.
The rare stone, from the Democratic Republic of Congo, was cut from a 1,138-carat rough stone, and purchased in 1975 by Andrew Coxon on behalf of De Beers that specialises in the mining, trading and marketing of the gems.
The stone was certified as the “largest single-crystal natural diamond” of the time after careful examination by the Gemological Institute of America in 2013.
Craftsmen worked diligently on the stone for two long years, between 2022 and 2024, to transform it into the 888.88-carat marvel.
Abdulla Bin Touq Al Marri, Minister of Economy and Tourism, said the UAE has solidified its position as a leading global hub for diamond trade, connecting every stage of the value chain from production and manufacturing to trade, investment and retail.
"The natural diamond industry is at a defining moment, and the pressures it faces go well beyond supply and demand. For producing countries, manufacturing centres and the communities that depend on them, these are not abstract challenges.
Reigniting consumer desire, restoring confidence and unlocking new value will take decisive, coordinated action from mine to retailer, and that includes how the trade is financed,” said Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC.
