Feb 14 Petra Diamonds Ltd said it sold a
29.6 carat blue diamond mined at its Cullinan mine in South
Africa for $25.6 million to U.S. luxury jeweller Cora
Petra Diamonds said the acorn-sized "exceptional" diamond,
whose discovery it announced last month, was sold to Cora
through South Africa-based Golden Yellow Diamonds.
"This sale result affirms this stone as one of the most
important blue diamonds ever recovered," Petra Diamonds Chief
Executive Johan Dippenaar said in a statement.
Analyst Cailey Barker at brokers Numis had estimated in
January that the diamond could fetch between $15 million and $20
million at auction.
Petra Diamonds said last month that the sale of the blue
diamond would boost second-half results. The company's revenue
rose 19 percent to $185.5 million in the six months ended Dec.
Cora has cut and sold some of the biggest diamonds in the
world, according to the website of the Fifth Avenue, New York
The company has also cut the "extraordinary" 110 carat fancy
yellow pear-shaped diamond - The Sundrop - exhibited at the
London Museum of Natural History and valued at $12 million.
Petra Diamonds' blue diamond was recovered from the same
mine as the Cullinan Diamond - the largest rough gem diamond
The 1905 Cullinan Diamond has been cut into two stones - the
First Star of Africa and the Second Star of Africa - that form
part of Britain's Crown Jewels held in the Tower of London.
Other notable diamonds discovered at the mine are the 25.5
carat Cullinan blue diamond found in 2013 and sold for $16.9
million, and the Star of Josephine diamond found in 2008 and
sold for $9.49 million.
Shares in Petra Diamonds were little changed at 148.1 pence
at 1248 GMT on Friday on the London Stock Exchange.