Petra Diamonds has found a 122.5 carat blue diamond at the Cullinan mine in South Africa.
This is the largest blue diamond found by Petra since the mine was sold to Petra by De Beers in 2008.
In February 2010 Petra sold the 507 carat white stone found at the same Cullinan mine for $35.3 million. This stone may break that record.
Cullinan mine is renowned for producing largest and most exceptional diamonds including the worlds largest at 3,106 cts.