507 carat diamond found in Cullinan

A REMARKABLE recovery was made when a 507 carat white diamond (just over 100g) was discovered in the small mining village of Cullinan on the east of Pretoria.

A REMARKABLE recovery was made when a 507 carat white diamond (just over 100g) was discovered in the small mining village of Cullinan on the east of Pretoria.

The diamond is among the top 20 largest and most valuable ever found.

Currently the diamond, found last week, is undergoing expert analysis in order for its value to be determined and so that it can be named.

"Diamonds are valued according to the four Cs - colour, cut, clarity and carrotage. Initial examinations indicate that it is of exceptional colour and clarity, and most likely to be a Type II diamond," said James Duncan, spokesperson for Petra Diamonds.

He said the value could not be confirmed yet. However, a similar sized diamond was sold for $18,4million (about R147million) in December last year at the height of the recession.

The largest uncut diamond ever found was in 1905 of an unbelievable 3108 carat stone, named the Cullinan Diamond.

Since then more than 120million carats have been mined by the group that still produces 25percent of all gem-quality diamonds distributed internationally.

The massive open pit mine is four times bigger than the Kimberley Big Hole.

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