Rapaport, September 30, 2009: Whopper Diamond Found in South Africa

RAPAPORT... See the 507.55 carat rough diamond from Petra Diamonds' Cullinan mine in South Africa in this week's broadcast. Petra Diamonds recovered an important 507.55 carat white diamond at the Cullinan mine in South Africa this past week and is currently with experts for analysis. Initial examinations indicate that it is of exceptional colour and clarity, and most likely to be a Type II diamond. Further details, including color grading and clarity, will be released once the diamond has undergone appropriate analysis.

The diamond was recovered alongside three other special white stones of similar color and clarity in the same production run: Another very large stone of 168 carats and two other stones of 58.50 and 53.30 carats. The 507.55 carat diamond has not been named. Cullinan has a special place in the history of diamonds as the source of the worlds largest gem diamond ever recovered, the Cullinan at 3,106 carats rough. It has also produced a further two of the worlds largest diamonds, the Golden Jubilee at 755 carats rough and the Centenary at 599 carats rough, and many other famous gems including the Elizabeth Taylor and Richard Burton 69 carat polished diamond ring.

Johan Dippenaar, Petras chief executive, said, "The Cullinan mine has again given the world a spectacularly beautiful and important diamond. Initial indications are that it is of exceptional color and clarity, which suggest extraordinary potential for its polished yield. We now eagerly await the findings of the expert analysis."

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