Earlier this week a diamond has been found that is thought to be the fifth largest in the world. It was discovered in a mine in Lesotho which is a country surrounded by South Africa.
According to the mining company where it was found, it is of exceptional quality and is said to be 910 carats. Back in 2006 the same mining company unearthed a 603 carat diamond.
The GIA (Gemological Institute of America) is considered worldwide as the leading authority in gemmology. They grade all diamonds on a scale of D (colourless) through to Z (light in colour).
The closer a diamond approaches colourless, the more rare and valuable the stone is. This gemstone was D in colour so is an exceptionally good colour. It could be worth up to 29 million pounds.
Most natural diamonds are formed about 125 miles below the surface of the earth. Temperatures of around 1,200 degrees Celsius are required and the combination of the heat and pressure squeeze carbon molecules into a strong crystalline structure.
Deep volcanic eruptions are used to get the crystals to the surface. They are needed to be brought up within a matter of hours and then cooled rapidly so as to lock their crystalline structure in place.
The largest diamond ever found was discovered in 1905 and weighed over 3,100 carats. Despite substantial interest when it was originally put up for sale, no buyer was found. Two years later it was presented to King Edward VII on his 66th birthday.
We will have to wait patiently to see how much this latest diamond is sold for and who the lucky person that purchases it is. In the meantime the mining companies will be trying to outperform this latest discovery and make new record breaking headlines.