From VoiceOfAmerica.

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.

Petra, which reported revenue of about $473 million in
the last financial year, declined to specify how
much the diamond could fetch.

Petra’s stock price jumped on the London stock market
after the company announced the new find on Tuesday.

Petra said it expected the diamond, that has no
measurable nitrogen impurities, to be sold in October-
December, the second quarter of its financial year.

Investors are also awaiting the outcome Petra’s sale of
a rare 122.52-carat blue diamond recovered from Cullinan
this year. Analysts estimated the stone’s value at more
than $35 million. The sale period closes on Friday.

Earlier this year, Petra sold a 29.6-carat blue diamond
from the Cullinan mine for more than $25 million.

Petra has five producing mines in South Africa and one
in Tanzania.

Read more at VoiceOfAmerica.