Home |  News |  Conferences |  Commodities |  Publications |  Business Directory |  Resources |  Help
Go to the MEI Online homepage

 
Search Site:

MEI Online: Commodities: Non-Metallic Ores: Diamond: Latest News: April 19th 2013

 
 

Click for more info on Comminution '18

  

:: Mining Company in South Africa finds Rare Blue Diamond

 

A rare blue diamond has been unearthed at a mine in South Africa. The 25.5-carat stone was recovered by Petra Diamonds at its Cullinan mine and is expected to bring large profits. Experts say it could be worth more than $10m (6m), and the find gave a boost to Petra's share price.

Similar finds in recent years from the Cullinan mine have commanded high prices and Petra, with operations in Botswana and Tanzania, is expecting a high level of interest from buyers. "It's very unusual for a diamond of this quality and size to come to market," said company spokeswoman Cathy Malins. The mine, north-east of Pretoria, has produced hundreds of large stones and is famed for its production of blue diamonds.

A similar 26.6-carat blue rough diamond discovered by the company in May 2009 was cut into a near perfect stone and fetched just under $10m at a Sotheby's auction. It was named the "Star of Josephine" by its new owner. Another deep-blue diamond from Cullinan was auctioned for $10.8m last year and set a world record for the value per carat.

In 1905, the renowned Star of Africa blue diamond - the world's second largest cut diamond - was discovered at the Cullinan mine. The pear-shaped 530-carat stone was presented to King Edward VII and became part of the British crown jewels.

 

 

   

Select the list(s) you'd like to join below, enter your email address, choose a content format and click "Join."
[more info]


MEI Online Update
MEI Online Job Vacancies

HTML Text

© 1998-2017, Minerals Engineering International


Email: amanda@min-eng.com