The gem was dug up at a lucrative site near Pretoria. Pic: Petra Diamonds
A massive diamond with a possible price tag of more than £36m has been discovered at a mine in South Africa.
The 29.6 carat blue diamond, described as being "exceptional", was dug up at the Cullinan mine near Pretoria - owned by Petra Diamonds.
Chief executive Johan Dippenaar said: "The stones in the last year or so are selling well above $2m (£1.2m) per carat. That's not my quote, that's updates in the market."
However, analyst Cailey Barker at brokers Numis said it could expect to fetch less - between $15m (£9m) and $20m (£12m) - at auction.
The mine, owned by the firm since 2008, was also where the Cullinan Diamond was found in 1905 - described as the largest rough gem diamond ever recovered and weighing 3,106 carats.
Other notable diamonds found in the mine include a 25.5 carat Cullinan blue diamond, found in 2013 and sold for $16.9m (£10m), and a diamond found in 2008, known as the Star of Josephine, which was sold for $9.49m (£5.7m).
Diamonds unearthed by Petra, which also operates mines in Botswana and Tanzania, have previously been displayed at Buckingham Palace.
The 1905 Cullinan Diamond was cut into two stones – the First Star of Africa and the Second Star of Africa – and form part of Britain's crown jewels held in the Tower of London.
The 29.6 carat blue diamond, described as being "exceptional", was dug up at the Cullinan mine near Pretoria - owned by Petra Diamonds.
Chief executive Johan Dippenaar said: "The stones in the last year or so are selling well above $2m (£1.2m) per carat. That's not my quote, that's updates in the market."
However, analyst Cailey Barker at brokers Numis said it could expect to fetch less - between $15m (£9m) and $20m (£12m) - at auction.
The mine, owned by the firm since 2008, was also where the Cullinan Diamond was found in 1905 - described as the largest rough gem diamond ever recovered and weighing 3,106 carats.
Other notable diamonds found in the mine include a 25.5 carat Cullinan blue diamond, found in 2013 and sold for $16.9m (£10m), and a diamond found in 2008, known as the Star of Josephine, which was sold for $9.49m (£5.7m).
Diamonds unearthed by Petra, which also operates mines in Botswana and Tanzania, have previously been displayed at Buckingham Palace.
The 1905 Cullinan Diamond was cut into two stones – the First Star of Africa and the Second Star of Africa – and form part of Britain's crown jewels held in the Tower of London.
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