Petra Diamonds Sells Pink Diamond for US$10.05 Million

Petra Diamonds Ltd. (LSE:PDL) announced that it’s sold a 23.16-carat pink diamond recovered in November from its Tanzania-based Williamson mine into a partnership.
Under the partnership, it will receive US$10,050,000 for the rough stone, and will retain a 20-percent stake in the sales proceeds of the polished stone.
As quoted in the press release:

The diamond was bought 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. 

Click here to read the full Petra Diamonds Ltd. (LSE:PDL) press release.