Govt rejects N2.5 billion bid for diamond stone

0
110

The diamond stone

The government of Sierra Leone has rejected a $7.8 million bid, about N2.5 billion  for a rough, egg-sized diamond stone, one of the biggest ever found,  saying it failed to meet its own valuation.

The 709-carat gem is the second largest ever discovered in the country and was unearthed in March in the eastern Kono region by a Christian pastor who gave it to the government to handle the sale.

Five bids were handed to auctioneers in a sealed brown envelope, ranging from $2 million to $7.8 million. The top bid was made by a man in a white shirt and light trousers on behalf of Belgium diamond dealer Ray Diam BVBA.

“We’ve decided not to sell the diamond today because the highest bid price … does not match the government reserve price,” Sahr Wonday, chief auctioneer and head of the National Minerals Agency, told a packed room.

Reuters reports that the…

Read More…..PM News