232 Carat D Color Diamond Unearthed

A 232-carat D color diamond unearthed by Petra Diamonds Ltd. (PDL) at its Cullinan mine in South Africa may sell for as much as $20 million, BMO Capital Markets said.

232 Carat D Color Diamond Unearthed in South Africa

232 Carat D Color Diamond Unearthed in South Africa

“The diamond is practically see-through, so it is very likely to produce a flawless stone,” says Petra spokesperson Cathy Malins.

The Cullinan mine in Pretoria is renowned for producing large stones. The biggest certified diamond is the 3,106-carat Cullinan, found at the mine in 1905. It was cut to form the Great Star of Africa and the Lesser Star of Africa, set in the Crown Jewels of Britain.

A 507-carat diamond found in 2009 was sold by the company for $35.3 million.

“The stone is a D color Type II diamond of exceptional size and clarity, and is a magnificent example of the large, high-quality diamonds for which the mine is known,” Petra said today in a statement.

“The company will update the market when finalized on the expected timing for the sale of this stone, which is expected to be in the second quarter of this financial year.”

Petra spokesperson Cathy Malins describes the rough as “the size of a strawberry.”

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