Huge Rough Diamond to Be Cut in Israel

The Diamond Exchange in Ramat Gan, Israel. (Miriam Alster/Flash90)

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.

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