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168ct Cullinan Diamond Sold by Petra for $6,28m

27th November 2009 By: Creamer Media found at miningweekly.com

 JOHANNESBURG (miningweekly.com) – JSE-and LSE-listed Petra Diamonds has sold a 168ct white diamond, recently recovered at its Cullinan mine, in South Africa, for $6,28-million, it announced on Friday.

This amounted to about $37 380/ct.

The stone was recovered in the same production series as three other large diamonds, among which was a 507,55ct white diamond that has not yet been offered for sale.

The other two diamonds were 58,5ct and 53,3ct and sold for a total of $2,8-million.

“The interest in the stone was very high, as was the case with the two smaller rough diamonds sold in mid-November, and the three diamonds have together achieved a total sales value of just over $9-million,” commented Petra CEO Johan Dippenaar.

The Cullinan mine is renowned as a source of large, high-value diamonds and in its history has produced more than 300 diamonds of over 100ct and one-quarter of all the world's diamonds over 400ct.

Extra note: The request for the issuing of a notice for the holding of an extraordinary general meeting, or EGM, to unseat members of the board of JSE-listed gold junior Simmer & Jack has been withdrawn. The withdrawal, on Friday, followed an application by Simmers to the South Gauteng High Court. The application stemmed from a bid by disgruntled empowerment partner Vulisango to place its nominees on the Simmers board at the EGM.

related : A 507 carat diamond recovered at historic Cullinan mine

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