The NMA carried out a valuation process based on estimates from three parties, in line with the Kimberley Process Certification Scheme.
The NMA valued the stone at $648,540, while the diamond’s owner said it was worth $601,701. A third, independent appraiser put the price at $659,925, the NMA said.
A licensed diamond exporter brought the stone to the precious minerals trading department of the National Minerals Agency last week for valuation, the and the Ministry of Mines and Mineral Resources reported.
The NMA uses the highest of the three figures to calculate the taxes and 15% royalty due to the government, meaning the exporter paid $98,989 as royalty, the agency said. The company then received the Kimberley Process certificate to export the stone. The government did not provide details on where or how the diamond was recovered.
Source: DCLA
