Petra Cullinan Diamonds has sold two of its special stones from its mine in Cullinan, South Africa in a partnership with diamond sourcing and supply company Stargems.
The South African subsidiary of Dubai-based Stargems Group purchased a 342.92-carat, white, type IIa diamond for an upfront payment of $10 million, Petra said Wednesday.
The same buyer also paid $3.5 million for an 18.30-carat, blue, type IIb diamond.
Stargems will cut and polish both stones in South Africa before putting them up for tender. Petra Diamonds will receive 50% of any profit from the polished diamond proceeds minus the manufacturing costs, it explained.
“These two diamonds are wonderful examples of the very high-quality and rare white and blue diamonds that are so well-known from the Cullinan diamond mine,” said Petra CEO Richard Duffy.
“We are delighted that both stones will be manufactured in South Africa, and it is fitting that we will be working with Stargems, who specializes in the sourcing and supply of the finest diamonds to customers across the world.”
STAR GEMS (PTY) LTD
Stargems group is an international diamond company founded in 1981 by Mr. Shailesh Javeri.
The group is known for the sourcing and polishing of rough diamonds, as well as the wholesale and retail of polished diamonds and jewellery.
With offices in Antwerp, Dubai, Johannesburg, Hong Kong, and Mumbai, Stargems has a global presence.
Stargems is a key player in the industry facilitating the sourcing of rough diamonds. Moreover, a state-of-the-art unit has been set up in Johannesburg to manufacture high value diamonds. Stargems supplies the finest quality diamonds for clients across the globe.
CORE BUSINESS ACTIVITY
Wholesaler, Preparer, Polished manufacturer and Retailer
PRODUCT RANGE OVERVIEW
Specials; Clivages; Gem; Melee; Run of Mine
CORE POLISHED DIAMONDS
All Polished Diamonds from 0.30 ct till +10 Specials.
SPECIALIST POLISHED DIAMONDS
Fancy Shapes; Fancy Color (Pink, Yellow, Blue); Large Size Special Stones
Rings; Pendants; Earrings; Bracelets; Bangles