A 232.08-carat white diamond, recovered from a mine that produced gems for the Crown Jewels, could fetch a value of up to $16m (£10m). The estimate was made by analysts after Petra Diamonds, which bought the Cullinan mine in South Africa from De Beers, showed off the rough stone. Petra's share price soared 7% on the FTSE 250 in the wake of the announcement, even though the company declined to put an estimate on the stone.
The find is not Petra's largest white diamond. In 2009 it unearthed a flawless 507-carat diamond, also at the Cullinan mine. The diamond was known as the Cullinan Heritage and fetched $35.3m - a record price for the company.
INC News, 09/09/2014
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