Petra Recovers 20ct. Blue Diamond

RAPAPORT... Petra Diamonds has unearthed a blue diamond weighing 20.08 carats atits Cullinan mine in South Africa, it said Monday. The type IIb stone comes from the same mine that producedthe 3,106-carat Cullinan diamond in 1905, and follows a string of important discoveries at the site this year. In April, the company recovered a209.9-carat white diamond, while in March it found a 100.83-carat white rough, as well as a 425.10-carat white stone, which it sold for $15 million in May. In January 2014, Petra unearthed a similar 29.62-carat blue diamond from Cullinan, which it sold the following month for $25.6 million, or $862,780 per carat."Today's recovery not only demonstrates the quality of Petra'sasset base, as the Cullinan diamond mine remains a significant source of rareblue diamonds, but it again confirms the prevalence of exceptional stones inthe Cullinan orebody, as well as the ability of the mine's plant to recover thefull spectrum of diamonds," the company noted. Image: The 20.08-carat blue diamond. (Petra Diamonds)