Petra Diamonds Limited announces that the exceptional 121.26 carat white diamond recovered at the Cullinan mine in South Africa has sold for US$6.0 million (US$49,480 per carat), as part of the Company’s June sales process in Johannesburg. The stone has been bought by a joint venture comprising Nemesis International and Golden Yellow Diamonds, two leading diamond manufacturers who specialise in large diamonds.
The stone is a Type II diamond of exceptional colour and clarity, and is an outstanding example of the large, high quality diamonds for which the mine is known. Cullinan is one of the world's most celebrated diamond mines. It earned its place in history with the discovery of the Cullinan diamond in 1905, the largest rough gem diamond ever found at 3,106 carats.
The First Star of Africa, which is mounted at the top of the Sovereign’s Sceptre and which at 530 carats is the largest flawless cut diamond in the world, and the Second Star of Africa, a 317 carat polished diamond which forms the centrepiece of the Imperial State Crown.
Cullinan is a famous source of large white diamonds and frequently yields diamonds larger than 10 carats. Furthermore, it has produced over 800 stones weighing more than 100 carats, 140 stones weighing more than 200 carats, and around a quarter of all diamonds weighing more than 400 carats.