Petra Diamonds Finds 'Exceptional 232.08 Ct White' At Cullinan
September 09, 14
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"The stone is a D color, Type II diamond of exceptional size and clarity, and is a magnificent example of the large, high quality diamonds for which the mine is known," the miner said in a statement.
The company said it will provide an update on the market regarding the expected timing for the sale of the stone, and that it is expected to be in the second quarter of this financial year.
Cullinan is one of the world's most celebrated diamond mines. It earned its place in history with the discovery of the Cullinan diamond in 1905, the largest rough gem diamond ever found at 3,106 carats. This iconic stone was cut into the two most important diamonds which form part of the Crown Jewels in the Tower of London - the First Star of Africa, which is mounted at the top of the Sovereign's Scepter and which at 530 carats is the largest flawless cut diamond in the world, and the Second Star of Africa, a 317 carat polished diamond which forms the centerpiece of the Imperial State Crown.
Cullinan is renowned as a source of large diamonds and frequently yields diamonds larger than 10 carats. Furthermore, it has produced just under 800 stones weighing more than 100 carats, over 130 stones weighing more than 200 carats, and around a quarter of all diamonds weighing more than 400 carats.
In its history, the mine has produced four of the top 20 largest high quality gem diamonds: in addition to The Cullinan, there is The Golden Jubilee (755 carats rough), The Centenary (599 carats rough) and The Cullinan Heritage (507 carats rough). The Cullinan Heritage was recovered by Petra in 2009 and sold in February 2010 for $35.3 million, the highest price on record for a rough diamond.
Cullinan is also renowned as the world's most important source of blue diamonds. Since Petra acquired the mine in 2008, it has produced a number of world-class blue diamonds including most recently a 29.6 carat diamond, which sold for $25.6 million (or $862,780 per carat) in February 2014, and a 122.5 carat blue diamond recovered in June 2014 which is currently on sales tender in South Africa (tender closes September 12).