pPetra Diamonds Limited has announced that the 507 carat Cullinan Heritage has been sold for US$35.3 million, the highest sale price on record ever achieved for a rough diamond./p
pThe diamond was sold on tender in South Africa and was purchased by Chow Tai Fook Jewellery Company Limited, Hong Kong. The purchaser has not at this stage advised Petra of their plans for the diamond./p
pThe price achieved for The Cullinan Heritage reflects the incredible rarity of the diamond, which combines its remarkable size with exceptional colour and clarity, and at 507.5 carats it is the nineteenth largest gem diamond ever discovered. The Cullinan Heritage was recovered in September 2009 from Petrarsquo;s Cullinan mine in South Africa which has produced the majority of the worldrsquo;s most famous and important diamonds./p
pThe proceeds from the sale of The Cullinan Heritage will add to Petrarsquo;s treasury and give the Company further flexibility in funding the development of the underground operations at Cullinan and the expansion project at the Williamson mine, both of which are important steps in taking Petrarsquo;s annual production from the current one million carats to over three million carats by 2019./p
pJohan Dippenaar, Petrarsquo;s CEO, commented, ldquo;It is fitting that The Cullinan Heritage should achieve a sale price of US$35.3 million, the highest sale price on record ever achieved for a rough diamond, as it has the potential to produce one of the worldrsquo;s most important polished gems. The sale proceeds further bolster Petrarsquo;s treasury and will be invested in the growth of our core assets.rdquo;/p
Related posts:
- Petra Diamonds Expects to Announce Outcome of 507 Carat Cullinan Heritage Tender Shortly; 130 Carat Diamond Recovered at Cullinan in January
- Petra Diamonds Unveils The ‘Cullinan Heritage’ 507 Carat Diamond
- A Pair of 10.88-carat Perfect Brilliant-Cut D/Flawless White Diamonds sells for US$4.82 million at Sotheby’s Hong Kong Magnificent Jewels and Jadeite – WORLD RECORD PRICE PER CARAT FOR ANY ROUND WHITE DIAMOND
- Exceptional 168 Carat White Cullinan Diamond Sold for US$6.28 Million
- 4.19-Carat Fancy Vivid Orange Diamond and Diamond Ring Sells For US$2.9 million
