507 Carat Cullinan Heritage Diamond Sells For $35.3 Million
Posted on February 26, 2010
Petra Diamonds Limited announced that the 507 carat Cullinan Heritage sold for US $35.3 million, the highest sale price on record for a rough diamond. The diamond was sold on tender in South Africa and was purchased by Chow Tai Fook Jewellery Company Limited, Hong Kong. The Cullinan Heritage was recovered in September 2009 from Petra's Cullinan mine in South Africa. At 507.5 carats it is the nineteenth largest gem diamond ever discovered.
Johan Dippenaar, Petra's CEO, said, "It is fitting that The Cullinan Heritage should achieve a sale price of US$35.3 million, the highest sale price on record ever achieved for a rough diamond, as it has the potential to produce one of the world's most important polished gems. The sale proceeds further bolster Petra's treasury and will be invested in the growth of our core assets."