After Petra Diamonds uncovered an exceptional blue diamond with a 122.52 carat weight from the famous Cullinan mine, the shares in Petra Diamonds were lifted.
It is the latest big find in a series of record-breaking diamonds of amazing intense color grade, clarity and carat weight recovered by Petra from the celebrated mine.
In February, a 29.6 carat diamond was sold for US$25.6 million, and a 25.5 carat diamond sold for US$16.9 million last year. Petra said this latest 122.52 carat blue diamond will require further analysis to assess its potential value. This means it will most probably not be sold before the end of the first current financial year, which ends June 30.
The rarity of a blue diamond of this size makes it a truly significant find. The Cullinan mine is known as the world’s most important source of blue diamonds and since Petra acquired the mine in 2008, it has continued to produce a number of exceptional blue diamonds such as the 29.6 carat diamond found in February 2014.