Petra Diamonds has unearthed a 425.10-carat white diamond at its Cullinan mine in South Africa, it said Friday.
The D-color, type II, gem-quality stone comes from the same mine that produced the 3,106-carat Cullinan diamond in 1905, the largest gem-quality diamond ever recovered.
The stone won’t be sold until the fourth fiscal quarter ending June 30. However, analysts have already issued early estimates. Berenberg has placed the diamond’s value at $8 million to $12 million. BMO Capital Markets said it could be worth more than $15 million, while RBC Capital Markets has valued it at $25 million to $35 million, according to Bloomberg.
Earlier this month, Petra recovered a 100.83-carat, D-color stone, as well as a 6.12-carat blue stone, both from Cullinan.
Image: The 425-carat diamond. (Petra Diamonds)