Can you imagine seeing a diamond the size of a tennis ball? Well, now you don't have to. A 1,111-carat diamond was discovered in Botswana by the Canadian mining company Lucara this week. This is the largest Type IIa diamond which makes up less than 2 percent of the world's natural diamonds. "The significance of the recovery of a gem quality stone larger than 1,000 carats, the largest for more than a century and the continued recovery of high quality stones... cannot be overstated," said Lucara CEO William Lamb.
This is the second-largest diamond ever to be unearthed; the largest was mined in 1905 and carved up, several of which are among the British crown jewels. In fact, this diamond is so large that it is too difficult to put a cost on such an exquisite jewel at this point. But by comparison, a 341.9-carat diamond was sold for $20.6 million this past July. Considering this is more than 1,000 carats, it would be quite a bit more! Commodities and mining analyst Kieron Hodgson told AFP news agency it has "the potential to be one very expensive diamond."
As a result of the discovery, shares of the company have been seeing all-time highs and $150 million has been added to the value of the company. The mining company also found two "exceptional" white diamonds in the same mine, estimated at 813 carats and 374 carats, respectively, but Lambert says they will not all go on the market at the same time.
To see more of this tremendous diamond watch the video above.