PETRA DIAMONDS SELLS 121.26 CARAT CULLINAN DIAMOND FOR US$49,480 PER CARAT

Petra Diamonds Limited has sold the 121.26 carat white diamond recovered at the Cullinan mine in South Africa for US$6.0 million, equating to some US$49,480 per carat, according to a press release from the company. The sale was made as part of the company’s June sales process in Johannesburg.

The huge diamond has been bought by a joint venture comprising Nemesis International and Golden Yellow Diamonds, two leading diamond manufacturers specializing in large diamonds.

Petra Diamonds has interests in six producing operations: five mines in South Africa (Finsch, Cullinan, Koffiefontein and Kimberley Underground), extensive tailings operations in Kimberley (via its interest in the Kimberley Mines) and one mine in Tanzania (Williamson). The diamond miner also maintains an exploration program in Botswana.