Burgundy Diamond Mines Inks New Polished Deals

RAPAPORT... Australia-based Burgundy Diamond Mines has signed a two-stage agreement to provide polished fancy-color diamonds to prominent Perth jeweler Solid Gold Diamonds.The first part of the deal, set to begin this month, will see Burgundy provide colored diamonds from its Maison Mazerea brand to Solid Gold for engagement and bridal jewelry. Burgundy will receive a portion of the proceeds from the sale of all pieces in that line, it said Wednesday. In stage two, the miner and the jeweler will collaborate on the design and production of an exclusive fine-jewelry collection featuring larger and higher-value stones. That line is set to debut in October.Burgundy has also inked a partnership with the Princess Grace Foundation, a charity that supports emerging performers in theater, dance and film. The two will launch the Grace de Monaco luxury brand in New York in November. Fine jewelry from that collection will be available for sale via private, invitation-only viewings, Burgundy noted. The miner is in discussions with other jewelers and luxury watchmakers for similar arrangements.The new deals broaden Burgundy's supply-agreement efforts for its fancy-color polished diamonds. In December, the miner announced its first supply agreement with luxury French jeweler B??umer Vend??me. Meanwhile, Burgundy has plans to produce 1,200 carats of polished colored diamonds annually, but expects to double that yield in the near future, as its Ellendale mine - a known source of fancy-color yellow and orange diamonds - is set to resume production in 2023. The company will also continue to purchase third-party rough, which it will cut and polish in its Perth facility.Wholesale prices for polished diamonds from the Maison Mazerea line will range from $5,000 to $50,000 per carat, with the average expected to be at the lower end, Burgundy added. Image: Yellow diamonds. (Burgundy Diamond Mines)