Biggest diamond in more than a century unearthed in Botswana

A 1,111 carat gem-quality diamond, second in size only to the Cullinan diamond cut into the British Crown jewels, has been unearthed by Lucara Diamond Corp. in Botswana.

Discovered by machines at the Karowe mine in central Botswana, the diamond is the largest found in over 100 years.

The value of the stone - just smaller than a tennis ball - is unknown and depends on the size and quality of the polished stones that can be cut from it.

In July, Lucara sold a 341.9-carat diamond for $20.6 million, or $60,000 a carat.

After its discovery, Lucara’s stock shot up, adding some $150 million to the value of the company.

Read more from Bloomberg Business.