• By The Financial District

Two Rare Diamonds Sold For $13.5 Million

Two rare diamonds have been sold by Petra Diamonds for a total of $13.5m (£9.8 million), Lucy Harley-McKeown reported for Yahoo Finance.

Photo Insert: The diamond is exceptional in terms of its color and clarity.

A 342.92-carat white diamond (previously announced on July 28, 2021) and an 18.30-carat blue diamond, both recovered at the Cullinan Diamond Mine in South Africa, have been sold into a partnership with Stargems.

Petra said in a release that it will receive an upfront payment of $10 million for the 342.92 carat stone and $3.5 million for the 18.30 carat stone, as well as retaining a 50% interest in the profit uplift of the polished proceeds of both diamonds, after costs.

“These two diamonds are wonderful examples of the very high quality and rare white and blue diamonds that are so well known from the Cullinan Diamond Mine," said Richard Duffy, CEO of Petra.

All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

"We are delighted that both stones will be manufactured in South Africa and it is fitting that we will be working with Stargems, who specializes in the sourcing and supply of the finest diamonds to customers across the world.”

Business: Business men in suite and tie in a work meeting in the office located in the financial district.

The Cullinan mine earned its place in history with the discovery of the Cullinan diamond in 1905, the largest rough gem diamond ever found at 3,106 carats. This stone was cut into the two most important diamonds which form part of the Crown Jewels in the Tower of London.


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