Unearthed diamond is largest since 1905

A 1,111-carat "high quality diamond", said to be the biggest find in more than a century, has been discovered at a mine in Botswana.

The gem - second only in size to the Cullinan diamond, unearthered in South Africa in 1905 - was mined by Lucara Diamond Corp.

"The magnificent stone, which originated from the south lobe of Lucara's Karowe Mine, is the world second-largest gem quality diamond recovered and largest ever to be recovered through a modern processing facility," the Stockholm, Sweden-listed company said a statement.

Botswana is the world's second-biggest diamond producer, and Lucara said the gem was the largest ever to be recovered in the country.

"The significance of the recovery of a gem quality stone larger than 1,000 carats, the largest for more than a century ... cannot be overstated," said William Lamb, Lucara's president and CEO.

The stone is yet to be evaluated, but commodities and mining analyst Kieron Hodgson said it has "the potential to be one very expensive diamond".

"Valuation will depend on potential inclusions, how it would behave in cutting, optimal shape as well as final color," he said.

"All these things will need to be evaluated prior to bidding."

The biggest diamond discovered is the 3,106-carat Cullinan, found near Pretoria, South Africa, in 1905.

It was cut to form the Great Star of Africa and the Lesser Star of Africa, which are set in the Crown Jewels of Britain.

(China Daily 11/21/2015 page12)