Huge Rough Diamond to Be Cut in Israel

The Diamond Exchange in Israel’s Ramat Gan has won the privilege of cutting and polishing one of the biggest diamonds of all time, Globes reported on Tuesday.

The huge gem – 813 carats – will be cut, probably into two smaller ones, using state-of-the-art laser technology for the most precise work.

The diamond passed through a number of hands before reaching Israel. Canadian mining company Lucara Diamond extracted it from the Karowe mine in Botswana. It was then sold at a Sotheby’s auction to Dubai-based company Nemesis International for $63 million. Nemesis subsequently sold it to the De Grisogono jewelry company, the present owners.

Diamond Exchange president Yoram Dvas hailed it as a significant coup for the Israeli diamond industry.

“Israel is a global technological center in the diamond industry, and we are also striving for activity of this type,” he declared.