Petra Diamonds Ltd - Sale of 342 carat White & 18 carat Blue Diamonds
25 August 2021LSE: PDL
("Petra" or the "Company" or the “Group”)
Sale of 342 carat White Diamond and 18 carat Blue Diamond
“These two diamonds are wonderful examples of the very high quality and rare white and blue diamonds that are so well known from the
“It is with great honour that we have entered into a partnership arrangement with Petra on these two diamonds from the world-renowned
Photos of the 342.92 carat diamond can be viewed at:
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For further information, please contact:
Petra Diamonds, London Telephone: +44 20 7494 8203
Cathy Malins email@example.com
Petra Diamonds is a leading independent diamond mining group and a consistent supplier of gem quality rough diamonds to the international market. The Company has a diversified portfolio incorporating interests in three underground producing mines in
Petra's strategy is to focus on value rather than volume production by optimising recoveries from its high-quality asset base in order to maximise their efficiency and profitability. The Group has a significant resource base of ca. 244 million carats, which supports the potential for long-life operations.
Petra strives to operate according to the highest ethical standards and will only operate in countries which are members of the Kimberley Process. The Company aims to generate tangible value for each of its stakeholders, thereby contributing to the socio-economic development of its host countries and supporting long-term sustainable operations to the benefit of its employees, partners and communities.
Petra is quoted with a premium listing on the Main Market of the
Notes to Editors
Located at the foothills of the Magaliesberg mountain range, 37 kilometres north-east of
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
Type II diamonds contain no detectable nitrogen in their chemical structure and tend to display exceptional transparency. Type IIa stones are generally ‘colourless’, meaning they can be the purest form of white possible. Type IIb stones contain significant amounts of boron which imparts a blue or grey colour – these stones are exceedingly rare and are believed to account for ~0.1% of all natural diamonds.
Many of the most famous diamonds in the world herald from the
-- the Premier Rose (353 carats rough); -- the Niarchos (426 carats rough); -- the
De Beers Centenary(599 carats rough); -- the Golden Jubilee (755 carats rough); and -- the Taylor-Burton diamond (69 carats polished).
More recently, remarkable diamonds recovered by Petra at the mine include:
-- the Cullinan Heritage (507 carats rough white diamond), sold for
US$35.3 millionin 2010; -- the Blue Moon of Josephine (29 carats rough blue diamond), sold for US$25.6 millionin 2014; -- the Cullinan Dream (122 carats rough blue diamond), sold for US$25.3 millionin 2016; -- the Legacy of the Cullinan Diamond Mine(424 carats rough white diamond), sold for just under US$15 millionin May 2019; -- the Letlapa Tala Collection (a collection of five blue diamonds of high quality and clarity) sold for US$40.36 millionin November 2020; -- a 299 carat white diamond sold for US$12.18 millionin March 2021; and -- an exceptional 39.34 carat blue diamond sold for US$40.18 millionin July 2021, representing a remarkable US$1.0 millionper carat. This was the most valuable diamond sold in Petra’s history and is believed to be the most valuable rough stone per carat ever sold (though since not all rough diamond sales are publicly disclosed, this cannot be established with certainty).
The unique geology of the Cullinan kimberlite pipe means that the majority of its diamonds are aged between 3.2 and 1.1 billion years old – spanning a time in the Earth’s history from before the formation of the first major continents to the beginnings of multicellular life. However, Type IIb blue diamonds are so rare that their age has not been established. Recent studies on minerals trapped inside these diamonds imply that they are amongst the deepest-formed diamonds ever found, created at depths in excess of 500km below the Earth’s surface. The boron that gives their blue colour has been linked to seawater suggesting that these diamonds are a record of rocks from the ocean floor that have been transported to the lower mantle by plate tectonics, where these diamonds formed under conditions of extreme pressure and temperature.
More information on the Cullinan Diamond Mine’s unique heritage can be found at
About blue diamonds
Blue diamonds are one of nature’s most special treasures. They are so rare that there are no official statistics on their recovery, however the
True miracles of nature, the captivating blue colour is produced by the presence of the trace element boron within the stone’s carbon structure during its formation deep within the Earth’s mantle.
Virtually every blue diamond described by the
High quality blue diamonds command the very highest values, with the 12 carat polished Blue Moon of Josephine (cut from a 29 carat rough blue diamond from the