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Petra says rare blue diamond sold for $27.6 mln

Reuters - UK Focus

Sept 16 (Reuters) - London-listed Petra Diamonds Ltd (LSE: PDL.L - news) said it sold a rare blue diamond found at its mine in South Africa for $27.6 million.

The company recovered the 122.52-carat diamond in June from its Cullinan mine, a site with a long and illustrious history of producing high-value stones.

Petra said the diamond was purchased by a partnership comprising itself and a polishing partner, who wished to remain anonymous.

The diamond miner will receive 85 percent of the agreed sale value, or $23.5 million, immediately and upon sale of the polished stone, Petra will receive 15 percent of the proceeds. (Reporting by Karen Rebelo; Editing by Gopakumar Warrier)