World’s biggest uncut diamond sells for $53m

Published September 27, 2017
THIS May 4, 2016 file photo shows a model displays the 1109 carat Lesedi La Rona diamond at Sotheby’s in the Manhattan borough of New York.—Reuters
THIS May 4, 2016 file photo shows a model displays the 1109 carat Lesedi La Rona diamond at Sotheby’s in the Manhattan borough of New York.—Reuters

LONDON: British jeweller Graff said on Tuesday it has purchased the world’s largest uncut diamond — roughly the size of a tennis ball — for $53 million (44.5 million euros).

Canadian miner Lucara Diamond sold to Graff the 1,109-carat gem, the Lesedi La Rona, which was found in Botswana’s Karowe mine in late 2015.

“We are thrilled and honoured to become the new custodians of this incredible diamond,” said company chairman, Laurence Graff, in a statement.

“The stone will tell us its story, it will dictate how it wants to be cut, and we will take the utmost care to respect its exceptional properties.” Lucara confirmed the hefty price tag in a statement issued in Vancouver.

“The discovery of the Lesedi La Rona was a company defining event for Lucara,” said William Lamb, president and chief executive of Lucara.

“It solidified the amazing potential and rareness of the diamonds recovered at the Karowe mine.” The rough diamond had previously failed to meet its reserve price of more than $70 million at a Sotheby’s auction in 2016.

Graff is already the owner of a 373-carat diamond, which was bought earlier this year and formed part of the original stone.

Lesedi La Rona means “our light” in Botswana’s Tswana language. It could be cut into smaller gems for jewellery or left whole in a private collection.

Published in Dawn, September 27th, 2017

Opinion

Pakhtuns, state and nationalism
Updated 15 Oct 2021

Pakhtuns, state and nationalism

They have lost the most in the ‘war on terror’. Why then is the PM painting Pakhtuns as a nation of holy warriors?
Unity of faith
15 Oct 2021

Unity of faith

There is unity in the apparent diversity of faith traditions.
The people’s page
Updated 15 Oct 2021

The people’s page

Many are disillusioned with the ‘Naya Pakistan’ narrative.
The next 22 months
Updated 14 Oct 2021

The next 22 months

There are at least 11 key challenges which the government will face in the run-up to the next polls.

Editorial

No need for NAB
Updated 15 Oct 2021

No need for NAB

THE National Accountability Bureau has sent instructions to its regional bureaus to stop processing cases that fall...
Forced conversions
Updated 15 Oct 2021

Forced conversions

THE majoritarian view has once again prevailed in the matter of bringing about legislation against forced conversion...
15 Oct 2021

Transgender rights

MEMBERS of the transgender community in the country are often at the receiving end of both their families’ and...
One big mess
14 Oct 2021

One big mess

At its core, the tension is the result of blurring of institutional boundaries witnessed since the PTI government came to power.
Tareen’s admission
Updated 14 Oct 2021

Tareen’s admission

PRIME MINISTER Imran Khan’s estranged friend Jahangir Khan Tareen has finally confirmed what has long been alleged...
14 Oct 2021

Dengue outbreak

DENGUE cases continue to rise at an alarming rate in several cities of KP and Punjab. According to data provided by...