Company finds 25-carat blue diamond in South African mine

April 20, 2013 at 3:17 PM

PRETORIA, South Africa, April 20 (UPI) -- A rare, 25.5-carat blue diamond -- potentially worth $10 million -- has been found in a diamond mine in South Africa, the mine operator said.

Petra Diamonds, which operates the Cullinan diamond mine north of Pretoria, South Africa, said the find is a rare one.

"It's very unusual for a diamond of this quality and size to come to market," company spokeswoman Cathy Malins told the BBC Saturday.

A 26.6-carat blue diamond found in the mine was auctioned by Sotheby's in 2009 for $10 million.

The Cullinan mine is where the famed Jewel of Africa, a massive 530-carat pear-shaped blue diamond, was found in 1905. It was presented to England's King Edward VII and became part of the royal family's crown jewels.

The find comes at a good time for Petra, which posted a $15.2 million loss in 2012 on its mining operation, TheSouthAfrican.com said.

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