Diamond News Archives
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(IDEX Online) - A huge rough diamond, described as the third largest in the world at 1,098 carats, has been recovered by Debswana at its Jwaneng mine, in Botswana.
The biggest diamond ever is the 3,106-carat Cullinan found in South Africa in 1905 - used in the British Crown Jewels - followed by the 1,109-carat Lesedi La Rona discovered in Botswana in 2015.
The newly-recovered stone (pictured) measures 73 by 52 by 27mm and was presented to the country's president, Mokgweetsi Masisi, on Wednesday.
"This is the largest diamond to be recovered by Debswana in its history of over 50 years in operation," said Lynette Armstrong, acting managing director of Debswana, a 50/50 partnership between the Botswana government and De Beers.
Valuation by the Diamond Trading Co. Botswana is expected in a few weeks.
"From our preliminary analysis it could be the world's third largest gem-quality stone. We are yet to make a decision on whether to sell it through the De Beers channel or through the state owned Okavango Diamond Company."
The company said it used cutting edge technology to uncover and process the stone....
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(IDEX Online) - An exceptional 39.34-carat blue rough diamond could ultimately fetch $64m as a polished gem.
The Type IIb diamond (pictured), recovered at the Cullinan mine, South Africa, is set to yield over $1m per rough carat when it's sold at special tender next month by Petra Diamonds.
Comparisons with another diamond from the same mine, The Blue Moon of Josephine, suggest it could fetch as much as $64m as a polished gem, says industry veteran Howard Cohen, editor of The Jeweler Blog.
The Blue Moon started life as a 29.6-carat rough recovered in 2014. It was bought by New York-based Cora International for $25.6m, transformed into a 12.03-carat fancy vivid internally flawless cushion-cut stone, and sold at Sotheby's to Hong Kong billionaire Joseph Lau for $48.5m.
If the newer, larger stone, loses the same proportion in cutting - 59 per cent - it will yield a polished gem of at least 16-carats.
At the same price per carat of around $4m, that could translate to a price tag of $64m.
The rough stone is being shown in Antwerp, Dubai, Hong Kong and New York and bidding closes on 12 July....
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