Petra Blue Diamond Broke the Bank

It seems there is another outstanding diamond to add to the list of famous fancy colored diamonds — this is the blue Petra Diamond. Apart from being of a very rare blue color, now it is know as the most expensive natural diamond in the world. This 4.8 carat record-breaker went for $1.45 million, i.e. $300.000 per carat, the highest ever price paid for any rough diamond so far. Some more information about the mine it was extracted from:

The diamond was recovered from the company’s Cullinan mine in South Africa, from which a number of stones in the Crown Jewels were recovered. These include the Cullinan 1 and the Lesser Star of Africa, which are found in the Imperial State Crown, and the Star of Africa, which is found in the Sceptre.

“Cullinan is renowned as the world’s only reliable source of blue diamonds and this sale demonstrates how rare and desirable they are to the international market,” Petra said.

Petra’s shares also started trading on the main market today, graduating from Aim. The diamond producer may be included in the FTSE 250 index next March, depending on the company’s valuation. No funds were raised as part of the company’s admission to the main board.

“Our core objective is to continue to deliver substantial growth over the coming years, as we steadily increase annual production to over 5m carats by 2019,” Adonis Pouroulis, Petra’s chairman said.

Petra has one of the world’s largest diamond resources, standing at 300m carats, while it currently produces 1.1m carats a year.

This information is taken from http://www.telegraph.co.uk/finance/newsbysector/industry/mining/8969880/Petra-blue-diamond-sells-for-record-300000-a-carat.html

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