Diamond weighing 910 carat worth USD 40 mn discovered in Lesotho; fifth largest till date

Can there be a diamond worth Rs 260 crore? Yes. Lesotho based mining company Gem Diamonds on Monday discovered a diamond that has been valued at $40 million by experts, which means about Rs 260 crore. This is the fifth largest diamond ever found till date.

Lesotho is a landlocked country in southern Africa. Experts said that the diamond is of exceptional quality and it weighs around 910-carat.

"Since Gem Diamonds acquired Letseng in 2006, the mine has produced some of the world's most remarkable diamonds, including the 603 carats Lesotho Promise," said Gem Diamonds CEO Clifford Elphick.

"However, this exceptional top quality diamond is the largest to be mined to date... This is a landmark discovery," he added.

Southern Africa is known to be stone rich and has a large number of diamond mines. This mine has earlier also produced some large diamonds.