The 25.5-carat stone was recovered by Petra Diamonds at its Cullinan mine and is expected to bring large profits.
Experts say the blue diamond could be worth more than $10 million, and the find gave a boost to Petra’s share price.
Similar finds in recent years from the Cullinan mine have commanded high prices and Petra, with operations in Botswana and Tanzania, is expecting a high level of interest from buyers.
“It’s very unusual for a diamond of this quality and size to come to market,” said company spokeswoman Cathy Malins.
The mine, north-east of Pretoria, has produced hundreds of large stones and is famed for its production of blue diamonds.
A similar 26.6-carat blue rough diamond discovered by the same company in May 2009 was cut into a near perfect stone and fetched just under $10 million at a Sotheby’s auction.
The diamond was named the “Star of Josephine” by its new owner.
Another deep-blue diamond from Cullinan was auctioned for $10.8 million last year and set a world record for the value per carat.
In 1905, the renowned Star of Africa blue diamond – the world’s second largest cut diamond – was discovered at the Cullinan mine.
The pear-shaped 530-carat stone was presented to King Edward VII and became part of the British crown jewels.
At least five people, including a four-month-old baby, have been killed after dozens of tornadoes…
Harvey Weinstein has been hospitalized just days after his 2020 rape conviction in New York…
Hamas has published a video showing the first proof of life of US and Israeli…
Prosecutors and Donald Trump’s attorneys delivered opening statements and the first witness was called on…
The House of Representatives has finally approved $61 billion in new US military aid for…
The real estate market in the United States has always been a gauge for economic…