There's no need for us to take concessions when diamonds are selling for $10 million.

Petra diamonds is very proud, it announced on May 13 that:

"Cullinan blue diamond breaks world records at auction"

" Petra Diamonds is pleased to announce that the blue diamond produced from the Cullinan mine has sold for US$9,488,754m*, or US$1,349,752 per carat, establishing a new record price per carat for any gemstone sold at auction and the highest price for a fancy vivid blue diamond sold at auction."

When I first read this I read that it had been "extracted" from the Cullinan" mine.

What does this mean? This gem was not extracted by the people that own the mine or the people that sold the gem, it was extracted by workers, working perhaps 2 miles underground.

The buyer, last time I read, was an anonymous person who bid by phone. Most likely it was an agent of the buyer that bid by phone. Blue diamonds are much rarer than regular diamonds which adds to the cost. What it means in real terms is that it takes a lot more Labor, collectively and, under more dangerous conditions, to "extract" the gem.

We should take note that the people that "extracted" the rock were not at the auction and will not benefit from its sale.