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Cullinan blue diamond to be a
Cullinan blue diamond to be a.
About this update from Petra Diamonds Limited
[{"type":"text","content":"\n RNS Number : 7583P Petra Diamonds Ld 31 March 2009 \n \n\n \n\n\n\n\n\n31 March 2009\n\n\nAIM: PDL\n\n\n\n\n\n\nPetra Diamonds Limited\n('Petra Diamonds' or 'the Company')\n\nImportant Cullinan blue diamond to be auctioned by Sotheby's\n\n\nPetra Diamonds is pleased to announce that the centrepiece of the upcoming Sotheby's sale of Magnificent Jewels will be an important and rare fancy vivid blue, internally flawless, cushion-shaped diamond weighing 7.03 carats. The diamond was cut from the 26.58 carat rough stone discovered in 2008 at Petra Diamonds' historic Cullinan diamond mine in South Africa. The pre-sale estimate is US$5.8-8.5 million and the buyer will have the honour of naming the diamond.\n\nAt a weight of 7.03 carats, the diamond ranks among the most important blue diamonds ever to be offered for sale by Sotheby's. The Gemological Institute of America (GIA) has graded the stone as fancy vivid blue in colour and internally flawless in clarity, the highest possible grading for a blue diamond. Blue diamonds, which are among the rarest of all gems, owe their colour to the presence of the chemical element boron during the stone's formation. The Cullinan mine is the world's most consistently reliable source of blue diamonds and this stone is a perfect example of Cullinan diamonds at their best. \n\nA marketing programme to exhibit the diamond in Hong Kong, Paris, New York and London has been arranged by Sotheby's ahead of the sale to be held at the Beau-Rivage Hotel in Geneva on Tuesday, 12 May 2009.\n\n\nCommenting on the fancy vivid blue diamond, Johan Dippenaar, CEO of Petra Diamonds, commented: 'This fancy vivid blue, flawless diamond is a very rare and unique gem. Its quality is enhanced by its Cullinan origins, a mine that has produced some of the world's most famous diamonds. Given its distinguished heritage, it is fitting that Sotheby's should further establish its legacy by marketing the gem as the cornerstone of its exclusive 'Magnificent Jewels' collection in Geneva.'\n\n\nDavid Bennett, Chairman, Europe & the Middle East, Sotheby's International Jewellery Department, said: 'Blue diamonds are among the rarest of all nature's treasures and i...