The 232-carat diamond found in South Africa has been described by a Petra spokesman as an example of the exceptional diamonds the mine is famous for.
Petra Diamonds said in a statement, "The stone is ... of exceptional size and clarity, and is a magnificent example of the large, high quality diamonds for which the mine is known."
Before the unearthing of the 232-carat diamond found in South Africa, in 2009, Petra was also able to uncover its largest find in white diamonds. They reportedly came across a 507-carat Cullinan Heritage, also in the same mine where the 232-carat diamond was found.
According to the Daily Mail, the 2009 find, a rough white diamond, was given a "flawless" clarity grade. It cost over $35.3million, about £21million, which is a record high for the company.
Because of the 232-carat diamond found in South Africa which Petra announced on Tuesday, Petra's stock price increased on the London stock market, reports VOA News.
As of the current moment, Petra still hasn't specified how much the 232-carat diamond found in South Africa would bring.
According to the Business Insider, the company said it is still finalizing plans for the sale of the diamond, but they announced that they will be selling the stone during the second quarter of this financial year, which is on October to December.
Meanwhile, Numis Securities analysts said in a statement, "We estimate a sales price in the order of $10million to $15million (£10million), given Gem Diamonds' recent sale of Type II white at about $70,000 per carat and assuming some losses for cutting/polishing."
"The extra revenue would go straight to the bottom line", Numis added.
According to Reuters, a company spokesman said the 232-carat diamond found in South Africa is highly likely catch the interest of buyers from traditional diamond hubs such as the United States, Europe, Israel or China. These buyers have the means to cut the stone into polished gems.
Petra said, "It's more a case of the clients coming to us, rather than us needing to approach clients."
Petra currently has five producing mines in South Africa and one in Tanzania. According to the Daily Mail, the company is also able to sell a 29.6 carat blue diamond for $25.6million to U.S. luxury jeweller Cora International in February.
232-carat diamond found in South Africa is not only the stone which is at the waiting list of diamonds to be sold by Petra. According to VOA News, investors are also awaiting Petra's sale of a rare 122.52-carat blue diamond, which was also found in Cullinan this year. That stone has a value of more than $35 million and its sale period is closing on Friday, said analysts.
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