How much is the Sierra Leone diamond worth?

On Dec. 4, 2017, the diamond sold to British jeweler Laurence Graff for $6,536,360 in an auction managed pro bono by Rapaport. It was far less than even government evaluators expected, but it garnered something much more valuable: transparency.

Who owns the diamonds in Sierra Leone?

Sierra Leone is ranked as one of the top five producers of rutile, a titanium ore, used in paint pigment and welding rod coatings. The government issued leases for mining rutile are held by Sierra Rutile Limited which is owned by Titanium Resources Group which is owned by European and U.S investors.

Does Sierra Leone still have blood diamonds?

15% of Sierra Leone’s diamond production are conflict diamonds. It shows that the production of conflict diamonds still exists in Sierra Leone.

Why are diamonds from Sierra Leone called blood diamonds?

In 1930, a British geologist discovered diamonds in the region. The gems became one of the greatest sources of Sierra Leone’s future conflict, earning them the name “Blood Diamonds.” British companies and other foreign merchants quickly seized control of diamond mines to profit from the newfound market.

How much is a 709 carat diamond worth?

Freetown, Sierra Leone (AP) — Officials say a 709-carat diamond found in Sierra Leone has been sold for more than $6.5 million. The diamond is said to be the 14th-largest ever discovered, according to the Rapaport Group, which auctioned the stone in New York on behalf of Sierra Leone’s government.

Are blood diamonds still being sold?

In 2006, Leonardo DiCaprio made the term “Blood Diamonds” a household phrase. A lot has been done to address the issue of blood diamonds and conflict diamonds since then, but unfortunately, we still have a ways to go. The diamond trade is an 81 billion dollars industry with 65% of mined diamonds coming from Africa.

Is Blood diamond a real story?

he Kimberley Process grew out of a 2000 meeting in Kimberley, South Africa, when the world’s major diamond producers and buyers met to address growing concerns, and the threat of a consumer boycott, over the sale of rough, uncut diamonds to fund the brutal civil wars of Angola and Sierra Leone—inspiration for the 2006 …

What is a perfect diamond called?

paragon
A paragon is a perfect diamond – flawless and without inclusions.