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South African Miners Find 232-Carat White Diamond

September 10, 2014

Miners in South Africa unearthed a 232-carat white diamond that experts said could be worth up to $15 million.

London-based Petra Diamonds said the diamond was discovered at its Cullinan mine, northeast of Pretoria.

The mine is known for producing huge diamonds, including the 3,100-carat Cullinan Diamond found in 1905, the largest rough gem diamond ever found.

“The stone is … of exceptional size and clarity, and is a magnificent example of the large, high quality diamonds for which the mine is known,” Petra Diamonds said in a statement.

“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,” Numis Securities analysts said in a statement.


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