Petra Diamonds discovers rare blue diamond

Petra Diamonds announced Wednesday it has recovered a 25.5 carat blue diamond at the Cullinan mine in South Africa.

Petra Diamonds announced Wednesday it has recovered a 25.5 carat blue diamond at the Cullinan mine in South Africa.

The rare stone is considered to be a high quality gem diamond of top colour.

Blue diamonds are among the most highly coveted of diamonds and the Cullinan mine is a major source of the gem.

Since Petra acquired the mine, it has produced a number of blue diamonds, including a 26.6 carat rough stone which yielded a flawless 7.0 carat polished stone.

The fancy vivid blue diamond sold for $9.49m at a Sotheby's auction in May 2009. At the time it was the highest price per carat for any gemstone sold at auction. It was named the 'Star of Josephine' by its new owner.

RD

Recommended

Share tips of the week – 9 December
Share tips

Share tips of the week – 9 December

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
9 Dec 2022
The top funds to invest in now
Funds

The top funds to invest in now

As market volatility continues, here are the top funds, stocks and investment trusts investors are putting their money into, according to one investme…
2 Dec 2022
7 sin stocks to buy yielding up to 8%!
Share tips

7 sin stocks to buy yielding up to 8%!

Sin stocks don’t have the best reputation, but when it comes to investment returns, they’re certainly worth a closer look.
2 Dec 2022
Share tips of the week – 2 December
Share tips

Share tips of the week – 2 December

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
2 Dec 2022

Most Popular

Is it cheaper to leave the heating on low all day?
Personal finance

Is it cheaper to leave the heating on low all day?

The weather is getting colder and energy bills are rising, but is it really cheaper to leave the heating on low all day or should you only turn it on …
1 Dec 2022
Radiator vs electric heater – which is cheaper?
Personal finance

Radiator vs electric heater – which is cheaper?

We compare the costs, pros and cons of radiators and electric heaters and see which one will help keep your energy bill as low as possible.
28 Nov 2022
The pros and cons of smart meters – should you switch?
Personal finance

The pros and cons of smart meters – should you switch?

A smart meter can help you keep tabs on your energy usage, but is it better than a regular meter? We take a look at smart meters vs regular meters.
2 Dec 2022