Massive $20 million diamond found in Angola: Company

LUANDA - A 404-carat diamond measuring more than seven centimetres in length and valued at more than US$14.3 million (S$20 million) has been unearthed in Angola, an Australian mining company has announced.

The Lucapa diamond company said in a statement on Monday that the diamond was the largest ever found in Angola and was believed to be the 27th largest in the world.

"The 404.2 carat diamond was recovered from mining block 8 at Lulo, which has already produced more than 60 large special diamonds since mining commenced in this area in August 2015," the company said.

Miles Kennedy, chairman of Perth-based Lucapa, told Australian media that the white diamond was worth more than 20 million Australian dollars (S$20 million).

Lulo, in northeast Angola, is part of Catoca, the world's fourth biggest diamond mine.

Endiama, Angola's national diamond company, said it was "a significant day for our country, our diamond industry and for the Lulo diamond project." A 1,111 carat diamond was discovered at a mine in Botswana last year in the biggest find for more than a century.

That gem is only second in size to the Cullinan diamond which was unearthed in South Africa in 1905.