Petra Diamonds Limited announces that it has recently recovered and sold an exceptional 32.33 carat pink diamond from the Williamson mine in Tanzania for US$15.0 million (US$463,965 per carat), as well as retaining an interest in the polished proceeds (Petra will receive 10% of the value uplift of the polished).

The diamond was bought by Golden Yellow Diamonds on behalf of M.A. Anavi Diamond Group, a leading diamond manufacturer and specialist in large and unique coloured diamonds.

Located in the Shinyanga Province in Tanzania, Williamson is the country’s only important diamond producer. The mine is an open pit operation based upon the 146 hectare Mwadui kimberlite pipe, which is the world’s largest economic kimberlite by surface area. Despite having been in continuous operation since 1940, the pit is only 95 metres at its deepest point due to the significant size of the deposit.

Williamson produces high quality diamonds, as evidenced by the average value of US$298 per carat in FY 2015, and is renowned for beautifully rounded ‘Type II’ white goods and ‘bubblegum’ pink stones. The ‘Williamson Pink’, which is considered to be one of the finest pink diamonds ever recovered, was found at Williamson in October 1947, weighing 54 carats in the rough. The mine, then owned by the Canadian geologist and royalist Dr John Williamson, gave the diamond to Princess Elizabeth in 1947 as a wedding present. It was cut into a 23 carat round brilliant and set as the centre of a brooch in the form of a jonquil flower, designed and set by Cartier in 1953.