Miners in South African have uncovered a 232-carat white diamond. The precious stone could be worth between $10 to $15 million, a Numis Securities analyst told Reuters.
Petra Diamonds, famous for its big-stone finds, called the diamond an "exceptional" jewel, according to company statement. It's classified as a D color Type II diamond. These types of diamonds have no measurable nitrogen impurities which mean they usually are top quality in terms of color and clarity.
"The stone is... of exceptional size and clarity, and is a magnificent example of the large, high quality diamonds for which the mind is known," Petra said.
The diamond will likely go to a buyer in the United States, Europe, Israel or China, and cut in polished gems. Petra will put the stone up for sale between October in December.
"It's more a case of the clients coming us, rather than us needing to approach clients," a Petra spokesman told Reuters.
Miners found it in the small town of Cullinan, east of Pretoria, where British royalty have obtained many of their crown jewels. It's also where the world's largest diamond was discovered.
Named after the town, the Cullinan was a 3,106-carat diamond unearthed in 1905. The stone was cut into two pieces and made as part of Britain's Crown Jewels. One piece at 530 carats is the largest flawless cut diamond in the world, according to Petra.
Petra uncovered its last large white diamond in 2009. The 507-carat Cullinan Heritage rough white diamond sold the next year for $35.3 million, the highest price on record for a rough diamond, according to the company.
The Cullinan mine frequently yields diamonds larger than 10 carats and has produced four of the top 20 largest high quality gem diamonds. It's also the world's most important source of blue diamonds.
