Apr 01, 2019

Petra Diamonds Recovers a 425.10 ct Type II White Stone at Cullinan Diamond Mine

Petra Diamonds Limited reported last week that it had recovered a 425.10 carat D colour Type II gem quality diamond at its Cullinan Diamond Mine, which is believed to be the sixth biggest ever found at the site. The mine has produced many large stones in the past, including the iconic 3,106 carat Cullinan Diamond which was found over 100 years ago.

The Company said that this latest recovery further demonstrates the prevalence of these types of stones in the Cullinan orebody as well as the ability of the mine’s plant to recover the full spectrum of diamonds.

It added that the stone is expected to be sold during Q4 FY 2019.

While no official estimate of the stone’s value was announced by Petra, some market analysts placed the likely value that it will fetch for the company in a range between US$ 15 million and US$ 35 million.

Earlier this year, Petra also found a 100-carat white diamond and a 6.1-carat blue diamond.

Pic caption: The 425.10 ct diamond recovered recently at Cullinan mine

Pic courtesy: Petra Diamonds