Petra Sells 23-Carat Pink Diamond in Antwerp for $10M

Rough Market
09/12/2015 16:57

Petra Diamonds Ltd. has announced the sale of the exceptional 23.16 carat pink diamond recovered from the Williamson mine in Tanzania in November, with Petra receiving US$10,050,000 (US$433,938 per carat) for the rough stone, as well as retaining a 20% interest in the sales proceeds of the polished. The diamond was bought at its tender in Antwerp by Golden Yellow Diamonds on behalf of M.A. Anavi Diamond Group, a leading diamond manufacturer and specialist in large and unique coloured diamonds. Johan Dippenaar, CEO of Petra, commented: "This sale result affirms that the market for high quality coloured diamonds remains robust. Pinks of this size and quality are incredibly rare, but the Williamson mine is known to produce them from time to time. This bodes well for the future of the mine as we continue to ramp up production and optimise the processing plant. Given the exceptional nature of this pink stone, we are delighted to retain exposure to the uplift in the polished."