Sierra Leone Produces 144ct. Diamond

RAPAPORT A company in Sierra Leone has obtained and exported a 144.12-carat rough diamond worth at least $600,000, authorities in the west African nation said Tuesday. A licensed diamond exporter brought the stone to the precious-minerals trading department of the National Minerals Agency (NMA) last week for valuation, the NMA and the Ministry of Mines and Mineral Resources (MMMR) reported. The NMA carried out a valuation process based on estimates from three parties, in line with the Kimberley Process Certification Scheme The NMA valued the stone at $648,540, while the diamond’s owner said it was worth $601,701 A third, independent appraiser put the price at $659,925, the NMA said The NMA used the highest of the three figures to calculate the taxes and 15% royalty due to the government, meaning the exporter paid $98,989 as royalty, the agency said.

The company then received the Kimberley Process certificate to export the stone The government . More