Two unpolished Cullinan diamon

Image: Petra Diamonds/Twitter

Two unpolished Cullinan diamonds just sold for a whopping R202 million

Two unpolished diamonds from the Cullinan diamond mine has been sold for R150 million and R52.4 million respectively.

Two unpolished Cullinan diamon

Image: Petra Diamonds/Twitter

Petra Diamonds has sold a 342-carat white diamond and an 18-carat blue diamond from the Cullinan diamond mine for a whopping R202 million.

Rare Cullinan diamond
Image: Petra Diamonds

Two unpolished Cullinan diamonds sold

According to a press release, the diamonds were sold into a polishing partnership with Stargems Group in which Petra will receive an upfront payment, while retaining a 50% interest in the profit uplift of the polished, after costs.

Richard Duffy, chief executive of Petra said the two diamonds were “wonderful examples of the very high quality and rare white and blue diamonds that are so well known from the Cullinan diamond mine”.

“We are delighted that both stones will be manufactured in South Africa and it is fitting that we will be working with Stargems, who specialise in the sourcing and supply of the finest diamonds to customers across the world,” he added.

Colour and clarity

The 342-carat white diamond was actually found in July 2021. It has been praised for both its colour and its clarity – and is the third biggest diamond to be found by Petra. Meanwhile, another breathtaking Type IIa white gem – recovered at Cullinan Mine back in January 2021 – fetched $12.18 million at auction in March 2021, equating to almost R180 million. 

A blue diamond

The Cullinan diamond mine has been marked as the world’s most important source of very rare blue diamonds. It is reported that 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 among the deepest-formed diamonds ever found, created at depths in excess of 500 km below the Earth’s surface. 

In July, Petra fetched $40.2 million for a 39.34-carat blue diamond which was recovered at its mine in April, the company’s highest price ever for a single stone.

Petra fetches over $40m for 39-carat blue diamond
Image: Petra Diamonds

Also Read: Rare blue diamond found in Gauteng sells for a whopping R576 million