Blue Diamond sold for R280 million by Petra Diamonds

Blue Diamond sold for R280 million by Petra Diamonds

Petra Diamonds has sold the 29.6 carat blue diamond for R280 million. The diamond found last month at Cullinan mine has been bought by luxury jeweler Cora International NY.

Petra Diamonds CEO Johan Dippenaar has expressed that the diamond has been sold at fair value. Markets experts were expecting the diamond to fetch between R200-250 million.
In 2013, 25.5 carat blue diamond found at Cullinan mine was sold for R185 million.

Cullinan mine is considered as main source of blue diamonds in the world. The proceeds from current diamond sale would boost the profitability of the company in second quarter.

Cora International has experience of selling very expensive diamonds. The US luxury jeweler has not given any plans for further sale of the diamond.

(Image: 29.6 carat rough Blue Diamond found at Cullinan Mine)


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