Industry News by Nemesis

Petra Recovers 20ct. Blue Diamond

September 25, 2019

 

Petra Diamonds has unearthed a blue diamond weighing 20.08 carats at its Cullinan mine in South Africa, it said Monday.

The type IIb stone comes from the same mine that produced the 3,106-carat Cullinan diamond in 1905, and follows a string of important discoveries at the site this year. In April, the company recovered a 209.9-carat white diamond, while in March it found a 100.83-carat white rough, as well as a 425.10-carat white stone, which it sold for $15 million in May. In January 2014, Petra unearthed a similar 29.62-carat blue diamond from Cullinan, which it sold the following month for $25.6 million, or $862,780 per carat.

“Today’s recovery not only demonstrates the quality of Petra’s asset base, as the Cullinan diamond mine remains a significant source of rare blue diamonds, but it again confirms the prevalence of exceptional stones in the Cullinan orebody, as well as the ability of the mine’s plant to recover the full spectrum of diamonds,” the company noted.

Image: The 20.08-carat blue diamond. (Petra Diamonds)

 

Source: Rapaport

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