De Beers Buys Blue Diamonds for $40 Million
Following a competitive tender process, Petra Diamonds Limited announces that the Letlapa Tala Collection of five blue diamonds, weighing 85.6 carats in total, was sold as a suite of stones to a partnership between De Beers and Diacore for a total price of US$40.36 million, payable in cash prior to delivery of the stones.
The diamonds were discovered at the legendary Cullinan Diamond Mine, which, for over a century, has produced some magnificent gems and is the birthplace of the most famous diamond of all time, the Cullinan, that proudly sits within the British Crown Jewels.
Diacore is an expert in cutting rare, exceptional gems, particularly coloured diamonds, and has partnered with De Beers Group previously on cutting the 203.04 carat Millennium Star diamond.
Richard Duffy, Chief Executive of Petra, commented: “The result of this special tender affirms the very high value placed on blue diamonds, which are undoubtedly one of nature’s rarest treasures. We believe this to be the first time that five rough blue diamonds of significant size, colour and clarity have been offered for sale at one time and we are delighted that the collection has been bought in its entirety.”
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