9th Dec 2015 07:42
LONDON (Alliance News) - Petra Diamonds Ltd on Wednesday said it has sold the "exceptional" pink diamond that was recovered from the Williamson mine in Tanzania for GBP10.1 million.
The FTSE 250-listed miner discovered the 23.16 carat pink diamond back in November, and at the time said it was the "most significant recovery" made by Petra at the Williamson mine to date.
Petra has sold the pink diamond as a rough stone, with the sale price equating to GBP433,938 per carat. However, Petra has also retained a 20% interest in the sales proceeds from the sale of the polished pink diamond - which is likely to be significant.
The diamond was purchased by Golden Yellow Diamonds on behalf of MA Anavi Diamond Group, a diamond manufacturer and specialist in large and unique coloured diamonds, said Petra.
"This sale result affirms that the market for high-quality coloured diamonds remains robust. Pinks of this size and quality are incredibly rare, but the Williamson mine is known to produce them from time to time. This bodes well for the future of the mine as we continue to ramp up production and optimise the processing plant," said Petra Chief Executive Johan Dippenaar.
"Given the exceptional nature of this pink stone, we are delighted to retain exposure to the uplift in the polished," he added.
By Joshua Warner; [email protected]; @JoshAlliance
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