Sourcing

Petra Finds, Sells Another Big Pink Diamond

SourcingMar 25, 2016

Petra Finds, Sells Another Big Pink Diamond

Recovered from its mine in Tanzania, the 32.33-carat colored stone went for $15 million, or more than $460,000 per carat.

U.K.-based mining company Petra Diamonds recovered this 32.23-carat rough pink diamond from the Williamson Mine in Tanzania. The company also operates the Cullinan, Finsch, Koffiefontein and Kimberley Underground mines in South Africa.

London--Diamond miner Petra Diamonds Ltd. announced Thursday that it recently recovered and sold another “exceptional” pink diamond from its Williamson Mine in Tanzania.

The stone, a 32.33-carat piece of pink rough, went for $15 million, or $463,965 per carat.

Petra sold it to Golden Yellow Diamonds on behalf of M.A. Anavi Diamond Group, a Ramat Gan-based manufacturer that specializes in large and colored diamonds.

M.A. Anavi is the same company that bought the 23.16-carat pink diamond Petra pulled from Williamson last November.

The manufacturer paid slightly less per carat for that diamond--$433,938, for a total purchase price of $10.1 million--which, at the time, was billed as the most significant recovery yet from Williamson.

Petra retained a stake in both stones. The company said it will receive 10 percent of the proceeds from the sale of the polished 32.33-carat diamond and 20 percent of the proceeds from the sale of the 23.16 carater.

Michelle Graffis the editor-in-chief at National Jeweler, directing the publication’s coverage both online and in print.

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