A 647-ct diamond valued at over $3.1 million has been found in the Douradinho riverbed close to the small town of Coromandel. The stone is the second-largest diamond discovered in Brazil. And so, the nation’s precious stone industry, which hasn’t been particularly shining in the last decades (pun intended), is once again brought into spotlight.
The stone is brownish in color and has considerable size. It comes from a region where licensed mining operations coexist with artisanal miners known as garimpeiros. The discovery itself happened at the end of May and quickly became known in the neighborhood of Coromandel.
A local government official excitedly declared, “It’s a moment of great pride.” It has been several decades since such a kind of stone was unearthed here. The 726-ct President Vargas found nearby in 1939 is the only known Brazilian diamond which is bigger in size. Back in the day, between the 1730s and 1870s, this country was a top producer of diamonds. However, currently, less than 1% of the global supply of this stone comes from Brazil (from its alluvial deposits, to be exact).
Still, this recent find proves that some ancient riverbeds might hide secret riches. The 647-ct miracle has already changed hands in a private sale, as the Click Petróleo e Gás news company states. The information on the current owner is anonymous, and no future plans regarding the stone have been disclosed to the public so far. Therefore, the fate of the stone is still unclear. Will it be set as a whole stone in a piece of jewelry or cut into several magnificent stones? Will it become a part of a private collection or a centerpiece of the next big auction? Nobody knows for sure, there can only be speculation.
As you know, today Brazil isn’t a big diamond industry player it once was. But unique finds like this one prove that the nation hasn’t fully realized its stone potential. One may wonder: what is the next big treasure waiting for us in this country? The Olertis team will be waiting for even more geological discoveries in the near future!
