Diamond & Jewelry News, Advice and Prices for Consumers
Diamond & Jewelry News, Advice and Prices for Consumers
August 5, 2010
I've read briefly that a huge 500 carat diamond was mined in South Africa last month (end of September 2009), is this true? Where exactly was this diamond mined? I assume that 500 carat is the rough diamond size, is there any prediction about the carat weight the diamond could possess after it will be polished? Are such diamond usually polished into one huge diamond or cut to many smaller ones? What is the value of the rough diamond?
August 10, 2010
It was announced on the 29/9 that a 507.5 carat diamond was discovered in the Cullinan Mine in South Africa. It's a huge one, no doubt about it, though its far from being the biggest rough diamond (that is to say, rough diamond of high quality, destined to be polished into a diamond suitable for jewelry) ever mined and is perhaps number 15-20 in the chart of the biggest diamonds ever mined.
The diamond was unearthed by Petra Diamonds. The 507.5 carat diamond is supposably in a size of an egg and weighs about 100 grams, more than your cell phone! I've read that diamond analysts predict that the diamond could be sold for more than $20 million. Obviously the diamond would become much smaller after it'll be polished, but could still form a very big and impressive gemstone. If the 507.5 carat diamond is not enough, Petra Diamonds has also mined 3 other big diamonds in the same event: 53, 58 and 168 carat diamonds - Not bad for a one day's work!
Well, I don't really know what will become of the new Cullinan's beauties. I believe that diamond cutters will try to maximize carat weight, perhaps keeping the huge diamond in one piece or maybe dividing it to 2-3 diamonds, among which each will be still worth several millions.
Cullinan is considered to be the 3rd diamond abundant mine in South Africa, though when it comes to big, once in a lifetime diamonds, it seems that there's some magic in that place. Let's wait for the formal display of the hugh diamond, hopefully within no more than several months.
