World’s biggest uncut diamond sells for $53m

World’s biggest uncut diamond sells for $53m
A model poses with the uncut 1109-carat diamond, the Lesedi La Rona, at Sotheby’s auction house in London. Graff bought the Lesedi La Rona diamond on Sept. 26 for $53 million from the Canadian mining company Lucara Diamond. (AFP)
Updated 27 September 2017

World’s biggest uncut diamond sells for $53m

World’s biggest uncut diamond sells for $53m

LONDON: British jeweller Graff said Tuesday it has purchased the world’s largest uncut diamond — roughly the size of a tennis ball — for $53 million.
Canadian miner Lucara Diamond sold to Graff the 1,109-carat gem, the Lesedi La Rona, which was found in Botswana’s Karowe mine in late 2015.
“We are thrilled and honored to become the new custodians of this incredible diamond,” said company Chairman Laurence Graff, in a statement.
“The stone will tell us its story, it will dictate how it wants to be cut, and we will take the utmost care to respect its exceptional properties.”
Lucara confirmed the hefty price tag in a statement issued in Vancouver.
“The discovery of the Lesedi La Rona was a company defining event for Lucara,” said William Lamb, president and chief executive of Lucara.
“It solidified the amazing potential and rareness of the diamonds recovered at the Karowe mine.”
The rough diamond had previously failed to meet its reserve price of more than $70 million at a Sotheby’s auction in 2016.
Graff is already the owner of a 373-carat diamond, which was bought earlier this year and formed part of the original stone.
Lesedi La Rona means “our light” in Botswana’s Tswana language. It could be cut into smaller gems for jewelry or left whole in a private collection.


SABIC to begin construction of plastic recycling facility in the Netherlands

SABIC to begin construction of plastic recycling facility in the Netherlands
Updated 45 min 24 sec ago

SABIC to begin construction of plastic recycling facility in the Netherlands

SABIC to begin construction of plastic recycling facility in the Netherlands
  • The construction phase for the unit is expected to become operational in the second half of 2022
  • The project will be realized under a 50:50 joint venture

Saudi Basic Industries Corp. (SABIC) and Plastic Energy Ltd. announced plans to commence construction on the first commercial unit to produce its flagship certified circular polymers.

The construction phase for the unit, which will be located in the Netherlands, is expected to become operational in the second half of 2022.

The project will be realized under a 50:50 joint venture. It will be implemented with a top sector energy subsidy from the Ministry of Economic Affairs in the Netherlands.

The new unit will enable SABIC to significantly upscale the production of certified circular polymers to provide customers with greater access to sustainable materials which have been recycled, repurposed and produced in a way that can help protect our planet’s natural resources, while acting as a drop-in solution.