A 1,111 carat "high quality diamond" has been discovered at a mine in Botswana, said to be the biggest find in more than a century, according to the mine company. The gem, only second in size to the Cullinan diamond which was unearthered in South Africa in 1905, was mined by Lucara Diamond Corp. "The magnificent stone, which originated from the south lobe of Lucara's Karowe Mine, is the world second largest gem quality diamond ever recovered and largest ever to be recovered through a modern processing facility," the Stockholm listed company said a statement.
Shares in Lucara shot up 34 percent to 14.2 kronor in morning Thursday trading in Stockholm. Botswana is the world's second biggest diamond producer, and Lucara said the gem was the largest ever to be recovered in the country.