Giant $20 million diamond found in Angola

A diamond found in Angola by a small Australian-listed company, Lucapa Diamond, would make for a huge sparkler.
At 404 carats, Lucapa said it was the biggest diamond found in Angola and the biggest ever discovered by an Australian company.

 A photograph released by the company showed the stone measuring about seven centimetres in length.

The company announced its recovery recently and, since then, its shares have increased rapidly from below $0.325 to $0.425. The 404.2 carat diamond, which weighs about 80 grams, is said to be the biggest diamond ever unearthed in one of Africa’s largest countries and the 27th biggest recorded in the world.

Given the average price of $3,250 per carat, Angola’s largest and latest diamond is worth over a million dollars on its weight alone, when cut and mounted unto a piece of jewellery, it’s value is bound to increase. Lucapa Chairman, Miles Kennedy, said the diamond could be valued at more than $20 million.
The company, citing Wikipedia, said it was the 27th biggest diamond found in the world.

The diamond came from the Lulo mine, 40 per cent owned by Lucapa. Lucapa shares rose 29 per cent after the announcement.

Lucapa chief executive Stephen Wetherall said the company would continue efforts to find the source of the huge diamond.

The find came just months after another company, Lucara Diamond, found a 1111 carat diamond in Botswana.
It was said to be the world’s second-largest diamond, behind the 3106 carat Cullinan diamond found in South Africa in 1905