Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Image courtesy of Christie’s.
The “Oppenheimer Blue” diamond has sold for more than $57 million (56.8 million Swiss francs) including fees, crushing the previous record for the most expensive diamond ever sold at auction.
The 14.62-carats gem, auctioned at Christie’s in Geneva Wednesday, was originally expected to fetch up to $46 million. The stone now belongs to a private collector after a 25-minute battle between bidders on three continents, the auction house said after the sale.
Image courtesy of Christie’s.
The gem, the largest-ever blue diamond that has been auctioned, is named after its previous owner, Sir Philip Oppenheimer, whose family controlled De Beers for 80 years before selling out.
The rectangular-cut diamond has been set in a ring and flanked by two smaller trapezoid-shaped diamonds.
Image courtesy of Christie’s.
Only 10% of all blue diamonds discovered are larger than a carat, making the Oppenheimer Blue a highly prized freak of nature. It also has the highest color rating of “vivid.”
The 12.03-carat “Blue Moon” diamond, sold by Sotheby’s in November for $48.5 million, previously held the title of the priciest diamond sold at auction. The gem is now known as “The Blue Moon of Josephine.”
