Big diamond found in South Africa

CULLINAN, South Africa, Sept. 29 (UPI) -- A 507.6-carat white diamond, one of the largest ever found, has been discovered at a mine in South Africa, the mining company announced Tuesday.

Petra Diamonds Ltd. of the British dependency Jersey said on its Web site the gemstone was found last Thursday at its mine at Cullinan. Initial indications are the diamond is of exceptional color and clarity, and most likely to be a Type II diamond, the company said. Details, including its color grading and clarity, will be released once the stone has been fully analyzed.

The diamond was recovered along with similar quality stones weighing 168, 58.5 and 53.3 carats, Petra Diamonds said.

The yet-to-be-named 507.6-carat diamond is considered to rank among the Top 20 largest high-quality rough diamonds ever found worldwide, the company said.

The Cullinan mine also was the source of the world's largest gem diamond ever recovered, the 3,106-carat "Cullinan" found in 1905. It also has produced the 755-carat "Golden Jubilee" and the "Centenary" at 599 carats.

"The Cullinan mine has again given the world a spectacularly beautiful and important diamond," Johan Dippenaar, Petra's chief executive officer, said. "Initial indications are that it is of exceptional color and clarity, which suggest extraordinary potential for its polished yield. We now eagerly await the findings of the expert analysis."

The BBC reported the stone could be worth more than $20 million.