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(IDEX Online) – Bonhams said that a set of Chameleon diamonds will be auctioned at its Rare Jewels and Jadeite sale in Hong Kong on 25 November. <?xml:namespace prefix = "o" ns = "urn:schemas-microsoft-com:office:office" /?>

A diamond necklace (pictured above) featuring nine Chameleon diamonds weighing 13.87 carats is expected to fetch between HK$1,600,000 and HK$3,000,000 ($200,000-$380,000).

“Chameleon diamonds are amongst the rarest and most mysterious of colored diamonds," said Graeme Thompson, Bonhams Asia Director of Jewellery. "Depending on temperature and light conditions, the diamond’s color transforms from “olive” green to a mesmerizing brownish yellow or yellow.

“Due to their rarity, little gemological information exists on Chameleon diamonds and scientists have yet to confirm the mechanism that causes their color-changing behavior,” he added.

The Hong Kong sale also features a range of diamonds, colored gemstones, and signed jewelry. There are more than 150 lots in total, ranging from a cultured pearl and diamond necklace to a jade bangle.

Colored Diamonds

In addition to the Chameleon diamonds, Bonhams will present a selection of rare colored diamonds, including an intense blue, three green diamonds, a 7 carat faint pink, and a collection of vivid yellows.

Highlights include:...

• A 1.45 carat natural fancy intense blue diamond ring
• A 5.64 carat natural fancy vivid yellow internally flawless emerald cut diamond ring by Cartier
• A 3.15 carat natural fancy intense yellowish green diamond ring
• A 1.51 carat natural fancy intense pinkish purple diamond ring
• A 1.24 carat natural fancy intense green diamond ring

LONDON, Oct 29 (Reuters) – Mining companies must forge new ties with partners from customers to governments as they pursue innovation and compete for talent with technology giants, Rio Tinto's chief executive said in a speech to be delivered on Tuesday.

The mining industry has recovered from the deep commodity crash of 2015-16, but faces headwinds from U.S.-China trade tensions, which have dented the copper price, and is struggling to win investor trust.

In a copy of a speech to be delivered at a conference in Melbourne on Tuesday, CEO Jean-Sebastien Jacques said pushing the industry forward calls for "a brand-new spirit of partnership".

"New forms of partnering won't be just about governments, society and communities. It will also be about partnerships with customers, suppliers and even, competitors," he will say.

He flagged in the speech Rio's ties with Apple – with which, together with Alcoa, it announced a partnership to make emissions-free aluminium in May – as "an example of competitors working together to advance the future".

Partnerships could also help companies secure breakthroughs such as self-steering ships to transport materials, Jacques said, adding the technology may not be far off.

Rio Tinto is already using massive driverless trains to transport iron ore in the Pilbara region of Australia, which it says can deliver efficiencies as well as improving safety. The project has however been years in the making and suffered delays.

Jacques said mining had an image problem as "one of the least trusted on the planet"....

The IMF has just published a new review^[1] of Argentina’s economy. It is grim reading. Argentina is in trouble: economic conditions have worsened considerably since the last IMF review, back in June 2018. But the review also reveals that the IMF could be in even bigger trouble. It is repeating the same mistakes it made in the Greek crisis – but with a much larger amount of money at stake.

Argentina has been struggling all year. A drought has severely curtailed agricultural production^[2], widening the current account deficit and triggering a mild recession. Concurrently, Fed interest rate rises and a booming U.S. economy have driven up the U.S. dollar, making it ever more expensive for Argentina to obtain the dollars needed to pay interest on its massive dollar-denominated debt pile. The central bank has been printing money to finance the government’s growing deficit, but this has helped to fuel inflation that now runs at over 40%.

In June, the IMF agreed a standby credit arrangement^[3] of $50 billion with Argentina, the largest in the Fund’s history. $15 billion would be drawn immediately and the remainder would be made available as needed over the next three years. Half of the $15 billion would be used for government budget support.

But it quickly became apparent that, enormous though this financing agreement was, it would be nowhere near enough. In September, as the peso crashed and Argentina stared default in the...