Diamond slump delays Okavango Blue sale

Millions in wait: The Okavango Blue is amongst the worldu00e2u20acu2122s best PIC: MBONGENI MGUNI
Millions in wait: The Okavango Blue is amongst the worldu00e2u20acu2122s best PIC: MBONGENI MGUNI

State-owned diamond trader, Okavango Diamond Company (ODC) is holding onto its prized Okavango Blue diamond as it monitors the ongoing depressed conditions in the market for the precious stones.

The 20.46 carat blue diamond was unearthed at Debswana’s Orapa Mine in the third quarter of 2018. It drew comparisons with the world famous Hope Diamond, although the local, stone has a higher purity and clarity level. The Okavango Blue is expected to fetch millions of US dollars when it finally goes on sale at auction.

On Tuesday, ODC spokesperson, Dennis Tlaang told BusinessWeek the trader could not commit to a date for the auction of the stone.

Editor's Comment
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