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Mining company in South Africa finds rare blue diamond | Mining company in South Africa finds rare blue diamond |
(35 minutes later) | |
A rare blue diamond has been unearthed at a mine in South Africa. | A rare blue diamond has been unearthed at a mine in South Africa. |
The 25.5-carat stone was recovered by Petra Diamonds at its Cullinan mine and is expected to bring large profits. | The 25.5-carat stone was recovered by Petra Diamonds at its Cullinan mine and is expected to bring large profits. |
Experts say it could be worth more than $10m (£6m), and the find gave a boost to Petra's share price. | |
Similar finds in recent years from the Cullinan mine have commanded high prices and Petra, with operations in Botswana and Tanzania, is expecting a high level of interest from buyers. | Similar finds in recent years from the Cullinan mine have commanded high prices and Petra, with operations in Botswana and Tanzania, is expecting a high level of interest from buyers. |
"It's very unusual for a diamond of this quality and size to come to market," said company spokeswoman Cathy Malins. | "It's very unusual for a diamond of this quality and size to come to market," said company spokeswoman Cathy Malins. |
The mine, north-east of Pretoria, has produced hundreds of large stones and is famed for its production of blue diamonds. | The mine, north-east of Pretoria, has produced hundreds of large stones and is famed for its production of blue diamonds. |
A similar 26.6-carat blue rough diamond discovered by the company in May 2009 was cut into a near perfect stone and fetched just under $10m at a Sotheby's auction. | A similar 26.6-carat blue rough diamond discovered by the company in May 2009 was cut into a near perfect stone and fetched just under $10m at a Sotheby's auction. |
It was named the "Star of Josephine" by its new owner. | It was named the "Star of Josephine" by its new owner. |
Another deep-blue diamond from Cullinan was auctioned for $10.8m last year and set a world record for the value per carat. | Another deep-blue diamond from Cullinan was auctioned for $10.8m last year and set a world record for the value per carat. |
In 1905, the renowned Star of Africa blue diamond - the world's second largest cut diamond - was discovered at the Cullinan mine. | In 1905, the renowned Star of Africa blue diamond - the world's second largest cut diamond - was discovered at the Cullinan mine. |
The pear-shaped 530-carat stone was presented to King Edward VII and became part of the British crown jewels. | The pear-shaped 530-carat stone was presented to King Edward VII and became part of the British crown jewels. |
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