507-Carat Diamond Sold for $35.3 Million: Bolster Petra’s Treasury

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This weekend was certainly a great one for Petra’s Cullinan mine in South Africa, as the 507-Carat Diamond found there sold for 35.3 Million. This has helped to bolster their treasury and is now the highest price ever achieved for a rough diamond. We now wonder if this gem will but cut and put into future iPhone cases like this Crimson Gold ‘SUPREME’ Edition iPhone Wallet?

According to Israeli Diamond, the Chow Tai Fook Jewelry Company based in Hong Kong managed to outbid other companies who wanted to get their hands on this unique precious stone, but could not or did not want to match Fook’s offer. There are those who wonder how such a stone could fetch so much, but you only have to look at its size, color and clarity to understand why.

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The 507-carat Cullinan Heritage diamond is the nineteenth largest gem diamond found, so it makes you wonder how many more there are in the rocks at the mines in South Africa. The money that Petra raised will help to increase the growth of the core assets for the mining company.