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122-Carat Blue Diamond Discovered

Posted on June 24th, 2014 by Goldman Buyer

An “exceptional” 122.52-carat blue diamond was found at the Cullinan mine near Pretoria in South Africa. This announcement came from Petra Diamonds Ltd. (PDL), who discovered the stone.

The Cullinan mine also held the world’s largest certified diamond – 3,106 carats! – found in 1905. It was cut to form the Great Star of Africa and the Lesser Star of Africa, set in Britain’s Crown Jewels.

PDL shares increased by 6.5% after the announcement was made. In order to determine a value for the crystal, it is currently being analyzed. The blue diamond is estimated to sell for between $35 and $50 million, but it will not be sold until after the month of June.

How much do you think the stone will sell for? Stay tuned!

 

Courtesy of Bloomberg and BBC News

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