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Tuesday, 05 December 2017 - 14:19
“Peace diamond” auctioned
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Sierra Leone has sold one of the world's largest diamonds at an auction in New York, fetching a lower-than-expected price of $ 6.5 million.
 
The egg-sized, 709-carat "Peace Diamond" is one of the largest ever discovered in Sierra Leone and between the 10th and 15th largest ever found.
 
The international diamond trading network that handled the auction, the Rapaport Group, said the stone had gone to British billionaire and jeweler, Laurence Graff.
 
The stone was dubbed "Peace Diamond" after the Christian pastor who found it gave it away in the hope it would allow the government of Sierra Leone to raise money for local development projects.
 
The government said Monday it will use the $3.9 million in tax revenue from the sale to fund clean water, electricity, schools, health centers and roads.
 
Officials said they also hoped the sale will help combat the West African country's illicit diamond trade.
 
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