'World's most valuable rough diamond' sold by Vancouver-based producer

27 September, 2017, 00:42 | Author: Regina Lloyd
  • The Lesedi La Rona diamond the second ever largest rough cut diamond to be discovered has sold for $53 million US

A rough diamond, the size of a tennis ball unearthed almost two years ago by Canada's Lucara Diamond Corp has been sold for $53 million, according to the Vancouver-based company.

It was unearthed by Canadian miner Lucara Diamond Corp almost two years ago at its Karowe mine in Botswana.

Lucara has said it agreed with the plans and they would have no impact on the company's financial position.

Earlier this year, the jeweler also acquired a 373.72-carat rough diamond that was originally extracted from the Lesedi La Rona rock, as well as the largest heart-shaped diamond in the world, which weighs 118.78 carats, or 23.5 grams.

The world's second-biggest diamond has a buyer after failing to sell past year at a Sotheby's auction.

The tennis-ball size 1,109-carat rough diamond was withdrawn from Sotheby's auction room in 2016 when bids halted at $61 million. "Lesedi La Rona, " translates to "Our Light" in English.

LESEDI La Rona, the largest diamond discovered since the iconic Cullinan diamond in the previous century, has been sold to upmarket British jeweller Graff Diamonds for $53m.

"We took our time to find a buyer who would take the diamond through its next stage of evolution", he said in a media release following the sale.

Graff Diamonds chairman Laurence Graff said they were thrilled and honoured to become the new custodians of such an incredible diamond. "The discovery of the Lesedi La Rona was a company defining moment for Lucara".

Weighing 1,109ct and with an estimate of in excess of $70 million, the Lesedi La Rona rough diamond failed to sell at Sotheby's London on 29 June.

In 1905, the 3,106-carat Cullinan Diamond was unearthed in South Africa, only to eventually be cut into several smaller pieces.



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