A huge, 404-carat diamond, with an estimated worth of $14 million, has just been unearthed in rural Angola, Africa. The Australia-based Lucapa Diamond Company discovered the magnificent, 2.8 ounce gem whilst mining in the Lulo Diamond Field, located in Angola's Lunda Norte province.
According to Lucapa's press release, the 2.7-inch-long diamond trumps all records of any other diamond found in Angola. Until this point, the most impressive diamond was a 217.4-carat gem discovered in 2007.
Understandibly, Lucapa Chairman Miles Kennedy was practically soaring, praising the find as a "wonderful vindication of eight years of pretty hard work." And, as reported by the Sydney Morning Herald, the discovery of the huge gem has earned Lucapa a 29% spike in its shares.
"We're not used to valuing 400-carat diamonds," Kennedy told ABC Australia.
Lucapa operates in partnership with Angola's national diamond company Endiama, as well as local business Rosas & Petalas.
Endiama chairman Carlos Submula showed his full support for the recent success, saying that "the Lulo diamond field is an example of what we would like to showcase to the world to encourage international investment in Angola's diamond mining industry." Unfortunately, Angola has been no stranger to blood diamond conflict, so we can only hope that Lucapa's mining efforts aren't stirring up any adversity.