A massive diamond with a possible price tag of more than £36m has been discovered at a mine in South Africa.
The 29.6 carat blue diamond, described as being “exceptional”, was dug up at the Cullinan mine near Pretoria – owned by Petra Diamonds.
Chief executive Johan Dippenaar said: “The stones in the last year or so are selling well above $2m (£1.2m) per carat. That’s not my quote, that’s updates in the market.”
However, analyst Cailey Barker at brokers Numis said it could expect to fetch less – between $15m (£9m) and $20m (£12m) – at auction.
The mine, owned by the firm since 2008, was also where the Cullinan Diamond was found in 1905 – described as the largest rough gem diamond ever recovered and weighing 3,106 carats.
Other notable diamonds found in the mine include a 25.5 carat Cullinan blue diamond, found in 2013 and sold for $16.9m (£10m), and a diamond found in 2008, known as the Star of Josephine, which was sold for $9.49m (£5.7m).
I’m not sure about this particular mine, but there is a hidden human cost with regard to the diamond business that everyone should consider.