The Peace Diamond: the good in the diamond industry

The Peace Diamond is a 709-carat rough diamond discovered by a team of five artisanal diggers near the village of Koryardu in Sierra Leone on March 13, 2017. It is the world’s 14th largest diamond measuring approximately 2.5 inches wide and 1 inch deep.

Pastor Emmanuel Momoh, the manager and financial supporter of the digger team, is the legal owner of the diamond and a leader in the village and community where the rough was found.

In spite of accepting offers to smuggle the diamond, he insisted that the crystal be sold through official government channels so that the financial benefits would be appropriately shared with his village, district and the people of Sierra Leone.

Pastor Momoh immediately took the stone to Paramount Chief of the Kono District Paul Ngaba Saquee V and together they delivered it to the President of Sierra Leone Dr. Ernest Bai Koroma. The president committed to ensuring a transparent and competitive auction process, and a local Sierra Leone auction was held on May 11, 2017.

Unfortunately, the highest bid at the auction in Sierra Leone was for $7.777 million only, and the proposal was rejected. The government and Pastor Momoh then decided that the diamond should be sold in an international auction that would make the stone available to more buyers and ensure a fair market value price for the people of Sierra Leone. 

The government of Sierra Leone appointed the Rapaport Group as the marketing and sales agent for the Peace diamond on October 2, 2017. Instructions were given that the Peace Diamond was to be sold in a transparent and competitive auction process that will ensure fair market value.

Due to the significant benefit that the Peace Diamond will bring to the people of Sierra Leone, and to encourage legitimate artisanal diamond distribution channels, the Rapaport Group has agreed to provide the marketing and auction services for the Peace Diamond free of all charges.

The Peace Diamond represents all that is good in the diamond industry.

Over 50% of the sales value of the diamond will directly benefit the people of Sierra Leone. The Peace Diamond will make a huge difference in the lives of the poorest people in the world. It will provide villages with clean water, electricity, healthcare, schools, vital bridges and roads. It will create opportunities for sustainable economic development and jobs.

The buyer of the 709-carat rough Peace Diamond will have an opportunity to brand the resultant polished diamonds as Peace Diamonds. These diamonds are the best diamonds because they have helped create a better life for tens of thousands of people.

PRESIDENT DR ERNEST BAI KOROMA

“I thank the local chief and his people for not smuggling the diamond out of the country, and the owners should get what is due to them and it should also benefit the country as a whole. The Government remains committed to ensuring a transparent and competitive auction process that will ensure fair market value for Sierra Leone’s diamonds. We call on the worldwide
diamond industry to bid generously for the Peace Diamond as it will bring vital infrastructure and benefit to thousands of Sierra Leone’s artisanal diggers.”

MARTIN RAPAPORT

“I believe in the positive energy of the Peace Diamond and the great good it will do for the people of Sierra Leone. The lucky buyers of the Peace Diamond and the resultant polished Peace Diamonds can take pride in knowing that they have created a better life for tens of thousands of people. This is a diamond that makes the world a better place. This is a diamond with spiritual sparkle.”

PASTOR EMMANUEL MOMO, LEADER OF THE DIAMOND DIGGERS

“The Peace Diamond will greatly improve the lives of our people as it will bring clean water, electricity, schools, medical facilities, bridges and roads to our villages and the Kono District. This diamond represents our hope for a better future as the resources of Sierra Leone fund growth, development and jobs.”