14th May 2019 14:37
LONDON (Alliance News) - Petra Diamonds Ltd said Tuesday it has sold its 424.89 carat 'Legacy of the Cullinan Diamond Mine' for just below USD15 million.
It was a D colour diamond type IIa gem, meaning it was colourless and with few to no impurities, and was sold to Stargems Group/Choron (Belgium) BVBA. The diamond was mined from Petra's Cullinan mine in South Africa, one of Petra's three producing diamond mines, the other two being its Finsch and Koffiefontein mines.
Petra Chief Executive Richard Duffy said: "'This is a significant sale for Petra Diamonds and an endorsement of the quality not only of the Legacy diamond, but also the Cullinan ore body itself, which is known for its exceptional stones."
Cullinan is the site where the Cullinan diamond was found in 1905. The Cullinan diamond was the largest rough gem diamond ever found at 3,106 carats and was cut to form two diamonds in the British Crown Jewels.
Stargems Chair Shailesh Javeri said: "'The Cullinan diamond mine has produced some of the most iconic diamonds the world has ever seen and as a key client of Petra Diamonds we are honoured to have the opportunity to polish the 'Legacy of the Cullinan Diamond Mine'."
Shares in Petra were down 3.8% at 23.90 pence on Tuesday afternoon.
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