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Petra unearths 507-carat rough diamond

September 29, 2009
Petra Diamonds Chief Executive Officer Johan Dippenaar holds up the 507.55-carat rough diamond recently recovered at Petra's Cullinan Mine in South Africa.

London--Petra Diamonds has announced the recovery of a 507.55-carat rough white diamond from the famed Cullinan Mine in South Africa.

According to a media release, Petra recovered the diamond on Sept. 24.

While experts currently are analyzing the stone, initial examinations indicate that the stone is of exceptional color and clarity, and is most likely a Type II diamond.

Further details, including color grading and clarity, will be released once the diamond has undergone appropriate analysis.

According to the release, the discovery of this 500-plus-carat piece of rough was part of a run that also included a 168-carat piece of rough and two other stones of 58.5 and 53.3 carats.

At 507.55 carats, the diamond, which has not yet been named, is one of the top 20 largest high-quality rough diamonds ever found, ranking it alongside other rough diamonds found at the Cullinan Mine.

The Cullinan Mine produced the world's largest gem-quality diamond ever recovered, the "Cullinan," at 3,106 carats rough, and was the source for the Golden Jubilee, at 755 carats rough, and the Centenary, at 599 carats rough.

Cullinan also produced the piece of rough that eventually became the Taylor-Burton diamond--gifted to actress Elizabeth Taylor by her then-husband Richard Burton--which was 69 carats polished.

"The Cullinan Mine has again given the world a spectacularly beautiful and important diamond," Petra Diamonds Chief Executive Officer Johan Dippenaar said in the release. "Initial indications are that it is of exceptional color and clarity, which suggest extraordinary potential for its polished yield. We now eagerly await the findings of the expert analysis."

In addition to the Cullinan Mine, Petra also operates the Koffiefontein and Williamson mines, and is in the process of acquiring a fourth major mine, the Kimberley Underground mines. All four are former De Beers mines.
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