Sierra Leone to Sell 709ct. Diamond by Tender

Industry News

A 709.48-carat diamond discovered by a pastor in Sierra Leone will go up for sale by international tender, authorities have announced.

The stone, believed to be the 13th-largest rough diamond ever found, will be available for viewing at the Bank of Sierra Leone for a week starting this Wednesday, the Ministry of Mines and Mineral Resources said in a statement last week.

Potential buyers can obtain bidding documents on payment of a non-refundable $5,000 fee, as well as a $50,000 deposit, the ministry said. The sealed offers will be opened in front of all bidders on April 6.

Artisanal miner Pastor Emmanuel A. Momoh found the diamond earlier this month in the Kono district, and the stone was presented to Sierra Leone’s President Ernest Bai Koroma.

Koroma has previously said the selling process will be transparent and that the highest bidder will win the stone, subject to a reserve price. He has also stressed the importance of selling it within the country for the benefit of the nation.