Arthur J. Villasanta – Fourth Estate Contributor
Northwest Territorries, Canada (4E) – The largest diamond ever discovered in North America — a gem weighing-in at 552 carats – was recently unearthed in Canada.
Canadian mining company Dominion Diamond Mines said the yellow diamond was unearthed in October at the Diavik Diamond Mine located in Northern Canada about 135 miles south of the Arctic Circle.
This still unnamed diamond, which is about the size of a chicken egg, is the seventh-biggest this century. Dominion Diamond Mines called the gemstone “astonishing.”
The company said abrasion markings on the surface of the 552 carat gemstone attest to the difficult journey it underwent during recovery, and the fact that it remains intact is remarkable.
Dominion CEO Shane Durgin said the diamond is gem quality. This means the gemstone is suitable for jewelry.
Since it’s still being evaluated, this diamond’s ultimate worth hasn’t been determined. It will not be sold in its rough form and will be polished to ramp-up its value.
The 552 carat gem is almost three times the size of the Diavik Foxfire, which is next largest stone ever found in Canada. Diavik Foxfire is a 187.7 carat gem-quality diamond unearthed in the same mine by the Rio Tinto Group.
it was later turned into a pair of yellow earrings, which sold for more than $1.5 million. That stone is about one-third the weight of this new diamond.
Yellow stones typically sell at a discount to Type IIa top whites often found in the best African mines. The highest quality fancy vivid yellow or fancy intense yellow stones can sell for a premium.
In 2015, a 1,111 carat diamond was discovered at a mine in Botswana. The size of a human palm, it came second to only the 3,106 carat Cullinan diamond, which was found in 1905 in South Africa.
Article – All Rights Reserved.
Provided by FeedSyndicate