Massive $14 million diamond found in southern Africa

“We are delighted to have recovered the biggest diamond ever found in Angola – it is a significant day for our country, our diamond industry and for the Lulo Diamond Project”, he said in the statement.

“We have always emphasized the very special nature of the Lulo diamond field and this recovery – together with the other 100 carat-plus diamonds recovered this year alone – is further evidence of that”. According to Lucapa, until now the largest diamond found in Angola was the 217.4-carat Angolan Star, which was recovered in 2007 from the Luarica mine.

The gem was recovered from alluvial mining at the company’s mining block 8, where it has already recovered 60 large special diamonds since mining commenced in August past year.

The company recovered a 404.2 carat diamond during alluvial mining at Mining Block 8, above the high-priority L259 kimberlitic signature, at the Lulo concession in Angola.

Angola is the world’s fourth biggest country for diamond production.

For comparison, the largest known diamond ever found weighed 3,106 carats and was discovered in South Africa in 1905, the Sydney Morning Herald also said.

A massive diamond among the largest ever discovered was recently unearthed in Angola, mining company Lucapa announced Monday.

The sale of this diamond is sure to generate huge cash for the company, which the Chairman, Mr. Kennedy, has said will be used to expand Lupaca’s operations in the area.

Unsurprisingly, investors are also pleased about the news, with their enthusiasm sending the company’s share price rocketing upward.

The news sent Lucapa shares soaring, with the stock jumping as high as 50c per share by midmorning from its previous close at 32c.