A 232-carat white diamond was unearthed in an diamond mine in South Africa.
According to Petra Diamond the diamond was discovered at its Cullinan mine, northeast of Pretoria.
"The stone is a D colour Type II diamond of exceptional size and clarity, and is a magnificent example of the large, high quality diamonds for which the mine is known," the company said in an interview.
Research say that Type II diamonds have no measurable nitrogen impurities and top quality in terms of colour and clarity.
"The company will update the market when finalised on the expected timing for the sale of this stone. This is expected to be in the second quarter of this financial year."
Numis Securities analysts said, "We estimate a sales price in the order of $10 million to $15 million, given Gem Diamonds' recent sale of Type II white at about $70,000 per carat and assuming some losses for cutting/ polishing,"
Petra Diamond runs five producing mines in South Africa and one in Tanzania.
Cullinan mine is one of the world's largest diamond mine. It is renowned for its discovery of the largest diamond with 3,106-carat. It has produced 800 stones weighing more than 100 carats, over 130 stones weighing more than 200 carats, and diamonds weighing more than 400 carats.
The 3,106-carat diamond that was cut into two pieces for the Great Star of Africa and the Second Star of Africa, now part of Britain's Crown Jewels in the Tower of London.
It was in 2009 when the 507-carat Cullinan Heritage diamond was found in the same mine and sold for $35.3 million(the highest price on record)
In June, Petra Diamond extracted a 122.52-carat blue diamond estimated to value up to $35 million and its sale period closes on Friday.
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