London-listed and deeply indebted Petra Diamonds realised R616m from the sale of just five diamonds from its flagship Cullinan mine near Pretoria.
The sale of the five blue diamonds, which collectively weigh 85.6 carats, were sold as a collection to De Beers and Diacore for $40.4m in cash. Diacore is a specialist diamond company that cuts and polishes exceptional stones. “The result of this special tender affirms the very high value placed on blue diamonds, which are undoubtedly one of nature’s rarest treasures,” said Petra CEO Richard Duffy.
The Cullinan mine near Pretoria is known for its large diamonds, and it is the source of the biggest diamond ever recovered, the 3,106-carat Cullinan stone in 1905, which was subsequently cut up into various diamonds that are in the British crown jewels.
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