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Loose diamonds for the taking in Sierra Leone?

Loose diamonds for the taking in Sierra Leone?

  • Where and when does the story of the Peace diamond begin?
  • How much carat does this rough diamond weigh?
  • What are the future plans for this diamond?

 

Diamonds for the taking? That’s what it looks like. Lately in Sierra Leone they’ve found more diamonds that get in the international news. And even though loose diamonds are also illegaly traded, the story of the Peace Diamond got a more positive turn. What makes this stone so special? What plans does Sierra Leone have with this diamond?

Where and when does the story of the Peace diamond begin?

For the story of this special loose diamond we have to go to the Kono-district, the diamond region in Sierra Leone, where they recently found the 28th largest diamond. On the evening of March 13 2017 pastor Emmanuel Momoh, also working in the diamond industry, got a visit from a couple of mine workers. The pastor paid them 100 dollars for news that turned to be worth much more.

“This afternoon God has blessed us with this.”, said one of the men, while he took the big stone out of his pocket. A find that could have big consequences for the mine workers, their village, the Kono-district and even whole Sierra Leone.

How much carat does this rough diamond weigh?

The pastor took the rough loose diamond to one of the biggest dealers in the diamond district of Kono. Although the scale showed a weight of 706 carat, it turned out later that the diamond actually weighs 709 carats. This way, the Peace diamond is 14th largest diamond ever found and the 3th largest of Sierra Leone. Momoh resisted the pressure to sell the loose diamond to the dealer. The priest, on the other hand, informed the government of the find. By involving the government in the story, an opportunity was created to let citizens of the country profit from the proceeds.

What are the future plans for this diamond?

Local traders offered a maximum amount of 7,7 million dollar. But according to the pastor, it was not enough and the extraordinary stone went to the international market. The pastor as well as the president wanted to be sure that the proceeds would benefit the local population, hence the name ‘Peace Diamond’. They made a deal with the Rapaport Group who agreed to abandon the service costs and help them with their noble goal.

On December 4, this loose diamond will be auctioned in New York. The proceeds will be used to pay for electricity, drinking water, medical facilities and other basic needs for those who live in poor regions.

Are you looking for an investment in loose diamonds? Ask your quotation here of contact the experts of BAUNAT DIAMONDS. 

Author: Inge de Wee
Source: BAUNAT

With this article, BAUNAT strives to inform you thoroughly about investing in diamonds. No investment can be guaranteed to be without risk or fully according to your expectations. That is why we recommend to research the risks and aspects of investing in diamond properly to ensure that you make the right choice for your portfolio.

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