A diamond thought to be the fifth largest of gem ever found has been discovered in Lesotho, miner Gem Diamonds said Monday.
The gem is estimated to be worth as much as $40 million, according to Ben Davis, a mining analyst at Liberum Capital.
The company unearthed the D-colour stone at the Letseng mine in the landlocked southern African country and described the 910-carat find as of “exceptional quality”.
“Since Gem Diamonds acquired Letseng in 2006, the mine has produced some of the world’s most remarkable diamonds, including the 603 carat Lesotho Promise,” Gem Diamonds chief executive Clifford Elphick said in a statement.
“However, this exceptional top quality diamond is the largest to be mined to date… This is a landmark discovery.”
Gem Diamonds shares in London were up 14 percent from the market open to £0.92 a piece.