Last Tuesday authorities in west Africa shared that a company in Sierra Leone has dug up a large rough diamond of 144.12 carats. The rough diamond is estimated to be worth at least $600,000 USD.
The licensed diamond exporter has brought the rough diamond to a trading department called National Minerals Agency (NMA) last week for valuation. The valuation process is going to be carried out by the NMA and estimates from 3 parties that are in line with the well known Kimberley Process Certification Scheme.
A company in Sierra Leone has obtained and exported a 144.12-carat rough diamond worth at least $600,000, authorities in the west African nation said Tuesday.
A licensed diamond exporter brought the stone to the precious-minerals trading department of the National Minerals Agency (NMA) last week for valuation, the NMA and the Ministry of Mines and Mineral Resources (MMMR) reported.
The NMA valued the stone at $648,540, while the diamond’s owner said it was worth $601,701. A third, independent appraiser put the price at $659,925, the NMA said.
While the government did not provide any details on where or how the diamond was recovered the company that found it said to receive the Kimberly Process certificate to export the stone.
Will it go up for auction?
While other large rough diamond findings from Sierra Leone go up for auction this 144,12 carat diamond will not. The miner of the rough diamond has chosen to export the diamond instead.
“There is no policy or law that states that diamonds must be sold by public auction,” the NMA noted Tuesday. “The issue of auction will be dealt with during the upcoming review of the Mines and Minerals Act 2009 and other associated policies. The MMMR and the NMA hereby assure the public of our firm commitment to ensure that Sierra Leoneans derive maximum benefits from our mineral resources at all times.”