* Sells 4.8 carat diamond for $300,000 per carat
* Highest price achieved per carat for any rough diamond
* Shares up 2.1 pct in debut on London’s main market
LONDON, Dec 21 (Reuters) – Petra Diamonds Ltd
has sold a 4.8 carat blue diamond for $1.45 million, the highest
amount it has achieved per carat for any uncut diamond, the
company said on Wednesday, as it moved up to London’s main stock
market.
The blue diamond, sold in the most recent tender in early
December at over $300,000 per carat, was produced from South
Africa’s famous Cullinan mine.
The Cullinan Diamond, set in the Crown Jewels worn by
British monarchs, was discovered there in 1905 and the mine is
the world’s only significant source of rare and highly valuable
blue diamonds.
The company said it was confident the price paid per carat
was one of the highest ever for a rough diamond.
Petra started trading on the main market on Wednesday after
moving up from the junior AIM market. The African-focused
diamond producer hopes to be included in the FTSE 250 index
next March.
In its prospectus released on Dec. 15, the company said
rough diamond prices from July to Dec. 13 had resulted in its
gross revenue, over the same period, falling about $23.0 million
lower than the company’s expectations.
“In the short term, global economic uncertainty may continue
to cause some volatility in rough diamond pricing, but it should
be noted that demand from Asia and other emerging markets is
continuing to grow strongly and is lessening the reliance on the
major U.S. market,” it said.
Shares in Petra were up 1.8 percent at 0905 GMT,
outperforming a 0.8 percent gain in a British mining index
.
