A 122.52-carat blue diamond has been found by diamond mining company Petra.
The stone was recovered from the Cullinan mine near Pretoria, South Africa, where the 1905 was discovered, which was later cut into a number of stones which now make up the Crown Jewels.
Petra has said that the gem “will require further analysis in order to assess its potential value”, and will not be sold until next month at the earliest, after the end of the company’s financial year.
The company’s shares jumped 6.5% on news of the discovery.
In a statement, the firm said:
“Cullinan is known as the world’s most important source of blue diamonds and since Petra acquired the mine in 2008, it has continued to produce a number of exceptional blues”