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International Rough Diamond Week Opens in Israel

Mar 9, 2014 6:49 AM   By Ronen Shnidman
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RAPAPORT... The Israel Diamond Exchange (IDE) opened its first ever International Rough Diamond Week on Sunday with representatives of major mining companies ALROSA, De Beers and Rio Tinto participating along with some exceptionally large diamonds on display. The sale event closes on March 13.

The opening day's visual highlight  was a 29.60-carat, vivid blue  diamond (pictured) that was sent by New York luxury diamond brand Cora International. The acorn-size diamond was recovered by Petra Diamonds at its Cullinan mine in South Africa and sold to Cora International last month for $25.6 million, or $864,865 per carat.

The blue diamond was anticipated to be “the jewel in the crown of the event,” said IDE's president, Shmuel Shnitzer. He added that the show was expected to put the IDE on the global rough diamond map.

Ahead of the show, the Israeli-French auction house Tzoffey's 1818 said it would include two exceptionally large rough diamonds in its tender at the event, one nearly 1,000 carats and the other about 600 carats.

Tags: Alrosa, Cora International, Cullinan, De Beer, IDE, Israel, Israel Diamond Exchange, Petra Diamonds, Ramat Gan, Rio Tinto, Ronen Shnidman, rough, sight, tender, trading, Tzoffey
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