World’s Fifth Largest Diamond Found In South Africa

The newly found massive diamond in Lesotho has an estimated value of $40 million.

The world's fifth largest diamond discovered in South Africa.
TomekD76 / Thinkstock

The newly found massive diamond in Lesotho has an estimated value of $40 million.

A huge diamond considered as the fifth largest in the world is discovered in Lesotho in Southern Africa. It was found by the workers from Lesotho’s Letseng mine and described as 910-carats that may cost about $40 million.

The Letseng mine is managed by Gem Diamonds, a global diamond mining business in the United Kingdom. Clifford Elphick, Gem Diamonds’ Chief Executive Officer, stated that Letseng mine has produced some of the world’s most remarkable diamonds. These include the 603 carats Lesotho Promise. However, the newfound diamond has exceptional top quality and the largest to be mined to date. This highlights the unsurpassed quality of the Letseng mine.

He added that this is a landmark recovery for all of Gem Diamonds’ stakeholders. These include the shareholders, employees and the government of Lesotho, which is their partner in the Letseng mine.

The new find is designated as D-color Type IIa diamond. It makes up about 1 to 2 percent of all natural diamonds and has no impurities like nitrogen atoms. This diamond is colorless and could be transparent when exposed to ultraviolet light. It weighs about 182 grams or 6.42 ounces, according to Gizmodo.

The actual value of this diamond is not known yet. Meanwhile, the largest find diamond in Lesotho, which is a 603-carat was sold for $12.4 million in 2006. It is reported that the value of diamond has boosted since then. Meanwhile, Elizabeth Taylor’s 33-carat diamond ring and a 69-carat diamond were sold for $8.8 million at auction in 2011. These diamonds were given by Richard Burton in the late 1960s.

The largest diamond ever found is dubbed the Cullinan Diamond, which was discovered at the Premier Mine in Pretoria in South Africa in 1905. It was named after Sir Thomas Cullinan, who owned the mine and later sold the diamond to Transvaal provincial government. It is a 3,106-carat diamond and cut into two stones. They were set in Britain’s Crown of Jewels, according to New York Times.

Some of the largest diamonds found are the 1,109-carat Lucara diamond, the 995-carat Excelsior, and the 969-carat Sierra Leone. Meanwhile, Gem Diamonds announced that it also had discovered 117-carat and 110-carat stone last week. Its stocks elevated by 18 percent because of these finds.