You are currently viewing our desktop site, do you want to download our app instead?
Moneyweb Android App Moneyweb iOS App Moneyweb Mobile Web App

NEW SENS search and JSE share prices

More about the app

One of the priciest rough diamonds ever fetches $40m

The sale is good news for Petra, which was forced to restructure its debt last year.
Image: Shutterstock

Petra Diamonds sold a 39.3-carat blue gem for more than $40 million, making it one of the most expensive rough diamonds ever.

The small miner sold the exceptional Type IIb blue diamond to a joint venture between top producer De Beers and Diacore, a trading company owned by the billionaire Steinmetz family, it said Monday. The stone fetched just over $1 million per carat and is the most expensive gem Petra has ever sold.

Petra found the diamond at the Cullinan mine in South Africa in April. The mine, once owned by De Beers, is famous for both large and blue stones and was where world’s biggest diamond was found in 1905. Blue stones are among the most rare and valuable.

The sale is good news for Petra, which was forced to restructure its debt last year, when the Covid-19 crisis brought the industry to a standstill at a time when the company was already facing a mountain of debt and falling diamond prices. The shares, which were once worth more than $1.5 billion, closed up 1.1% on Monday.

© 2021 Bloomberg

COMMENTS   0

You must be signed in to comment.

SIGN IN SIGN UP

LATEST CURRENCIES  

USD / ZAR
GBP / ZAR
EUR / ZAR
BTC / USD

SEARCH COMPANIES
Enter company name or share code:

ECONOMIC DATA  

  CPIThe Consumer Price Index (CPI) measures monthly changes in prices for a range of consumer products Aug 2021 4.60%
  CPI ex OERThe Consumer Price Index excluding Owners’ Equivalent Rent (CPI ex OER) measures monthly changes in prices for a range of consumer products excluding Owners’ equivalent rent that measures changes in the cost of owner-occupied housing Aug 2021 5.20%
  RepoThe rate at which the Reserve Bank lends money to the country’s commercial banks and set by the Reserve Bank’s Monetary Policy Committee. Sep 2021 3.50%
  Prime lendingThe Prime Lending Rate is the rate of interest that commercial banks will charge their clients when issuing a loan (home loan or vehicle finance) Sep 2021 7.00%
INSIDER SUBSCRIPTIONS APP VIDEOS RADIO / LISTEN LIVE SHOP OFFERS WEBINARS NEWSLETTERS TRENDING PORTFOLIO TOOL CPD HUB

Follow us: