De Beers Group partners with Diacore on £29m diamond

De Beers Group has announced a new partnership with Diacore for the purchase of a 39.34 carat blue diamond from Cullinan Diamond Mine for a total price of $40.1m (£29m), split equally between the companies.

This follows a similar partnership in November 2020, in which the group and Diacore purchased five rare blue diamonds from Cullinan which totalled 85.62 carats.

Paul Rowley, executive VP of Diamond Trading, De Beers Group, said: “It is a privilege to have the opportunity to work with such a miracle of nature and a delight to see the legendary Cullinan deposit producing yet another breathtakingly beautiful gemstone.

“It’s great to be working again with Diacore on this diamond, given their outstanding history of releasing the true beauty of exceptional finds such as this.”

Nir Livnat, chairman of Diacore, added: “We’re excited and humbled to have the opportunity of designing and shaping one of the most special and rare blue diamonds of such size and colour.

“Joining forces with De Beers specialists alongside our master cutters will enable us to create a world-class masterpiece.”