Petra Diamonds sold a 507-carat diamond for $35.3 million on Friday, breaking a record as the highest price ever paid for a rough diamond.
Analysts had estimated the value of the stone, one of the 20 biggest high-quality rough diamonds, at around $25 million.
"It is fitting that the Cullinan Heritage should achieve a sale price of $35.3 million, the highest sale price on record ever achieved for a rough diamond, as it has the potential to produce one of the world's most important polished gems," Chief Executive Johan Dippenaar said.
London-listed Petra said in a statement the gem was purchased in a tender by Chow Tai Fook Jewelry Co Ltd in Hong Kong.
Proceeds will help boost Petra's profit for its fiscal year to end-June after the firm swung to a first-half profit on higher production and sales.
AIM-listed Petra found the gem last September at its 74 percent owned Cullinan mine in South Africa, which it bought from sector giant De Beers in 2007.
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Tags: 507 carat, diamond, sold, $35 million, biggest diamond,
