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Rare Blue Diamond Found in South Africa Puts Cullinan Mine Back in Global Spotlight

Prime Highlight 

  • South Africa’s Cullinan Mine has uncovered a rare 41.82-carat blue diamond, reinforcing its status as one of the world’s most important diamond sources. 
  • The exceptional find is expected to attract strong interest from global collectors and investors despite current challenges in the diamond market. 

Key Facts 

  • The diamond belongs to the ultra-rare type IIb category, which makes up less than 0.1 percent of all natural diamonds. 
  • Experts estimate the stone could be worth between $30 million and $40 million once it is cut and prepared for sale. 

Background: 

A rare blue diamond weighing nearly 42 carats has been discovered at South Africa’s renowned Cullinan Mine, in a find experts are calling exceptionally significant. The gemstone, belonging to the ultra-rare type IIb category, could fetch up to $40 million at auction. 

Petra Diamonds, the company that runs the mine roughly 20 miles from Pretoria, said it has uncovered a 41.82-carat type IIb blue diamond noted for its strong color and clarity. Experts are now studying the rough stone to decide how it should be cut and sold. 

Type IIb diamonds are among the rarest natural diamonds, representing less than 0.1 percent of all diamonds globally. Their blue color comes from tiny amounts of boron, and these diamonds are formed deep within the Earth before volcanic activity pushes them closer to the surface. 

That historic diamond was cut into nine major gems, with several now part of the British Crown Jewels. 

Johannesburg diamond dealer Gregory Katz told News24 that the stone could command between $30 million and $40 million once final cutting and polishing decisions are made. He noted that cutters will aim to preserve as much of the stone as possible, though the finished polished gem will inevitably be smaller than the original rough diamond. 

“There is little doubt it is a significant find,” Katz said, underlining the rarity and market potential of such a gemstone. 

The discovery comes as the diamond industry faces lower demand and competition from lab-grown stones. Even so, the rare diamond is expected to attract strong global interest. 

Petra Diamonds has not yet announced when it will be sold, but the industry is watching closely. 

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