Cullinan Mine Diamond
The Cullinan mine in South Africa has done it again producing a diamond weighing in at an eye watering, saliva inducing, finger tingeling 232.08 Carats. It was found by the minings company Petra Diamonds Ltd. The massive diamond is another example of what this mine is famous for (whoppers) and has a colour D and is type II.
Price watchers and analysts have estimated that the precious stone after cutting and polishing could fetch up to $10 million to $16 million dollars. This price is allowing for losses from cutting and polishing and is estimated to be approximately $70,000 per carat.
The Diamond is said to have no impurities and will be auctioned in October or December. It is expected that it will be snapped up by one of the usual buyers from either the U.S, Israel, China or Europe who will then cut the stone into polished gems.
Lucky Petra is an independent diamond mining group and has been producing some really astonishing diamond of late.
Petra also found a 122.5 carat blue diamond found in June. This 122.5 carat stone is on sales tender at present which the bean counters estimate will be bought for approximately $35 million dollars.
In case you are wondering what is the largest diamond the Petra group has discovered the answer is the “Cullinan Heritage” which was 507 carats rough. It sold for $35.3 million back in February 2010.
Nice work Petra !