LONDON, Feb. 26 (UPI) -- A Hong Kong-based company has agreed to pay a record $35.3 million for a rough diamond the size of a chicken egg, Petra Diamonds said Friday.
The Cullinan Heritage Diamond, weighing in at 507.5 carats and the 19th-largest known, was discovered in September in the Cullinan Mine near Pretoria, South Africa. Petra, which is based on the British island of Jersey, said Chow Tai Fook Jewelry Co. is buying the gem, The Daily Telegraph reported.
The company has not said how it plans to cut the diamond. The Cullinan, at 3,106 carats the largest diamond discovered to date, was found in the same mine in 1909 and cut into the Great Star of Africa and Lesser Star of Africa, both in the British crown jewels.
"It is fitting that the Cullinan Heritage should achieve a sale price of $35.3 million, the highest sale price on record ever achieved for a rough diamond, as it has the potential to produce one of the world's most important polished gems," said Petra Chief Executive Officer Johan Dippenaar. "The sale proceeds further bolster Petra's treasury and will be invested in the growth of our core assets."
