RAPAPORT… Petra Diamonds has recovered a 342.92-carat rough diamond from its Cullinan mine in South Africa, it said Wednesday.
The white, type IIa stone, which is of “exceptional quality” in terms of both its color and clarity, will likely be offered at the company’s upcoming September tender, Petra noted.
Petra’s revenue jumped 38% to $406.9 million last year, growth the company attributed to its increased discovery of large, high-quality diamonds. The segment contributed a record $60.2 million in revenue in 2020, compared with $14.9 million in 2019.
Last year’s total included the sale of a high-quality, 299.3-carat, white diamond from Cullinan, which Petra sold to Dubai-based Stargems DMCC for $12.2 million.
Image: The 342.92-carat rough diamond. (Petra Diamonds)
Cullinan Yields 343ct. Rough for Petra
The Bottom Line
- Petra Diamonds found a 342.92-carat, type IIa white rough diamond at the Cullinan mine.
- The diamond is noted for exceptional color and clarity and is expected to be offered at Petra's September tender.
- Petra's revenue rose 38% to $406.9 million last year, driven by increased discovery and sales of large, high-quality diamonds.
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