World’s largest diamond found in 100 years could fetch over $70M

A now famous three-billion-year-old diamond the size of a tennis ball found by Canada's Lucara Diamond (TSX:LUC) last year could fetch more than US$70 million (or about Cdn$90M) when it goes under Sotheby’s hammer at the end of the month.

The giant 1,109-carat rock, known as “Lesedi La Rona” or "our light" (in the Tswana language spoken in Botswana), was unearthed in November at Lucara’s Karowe Mine.

World’s largest diamond found in 100 years could fetch over $70M

Image courtesy of Lucara Diamond.

The diamond will go on display at Sotheby's London this week, ahead of the June 29 auction.

Lesedi La Rona is a type IIa diamond, the largest discovered in 100 years, and second in size only to the Cullinan diamond in the British Crown jewels.

World’s largest diamond found in 100 years could fetch over $70M

Image courtesy of Lucara Diamond.

Botswana is the world's largest producer of diamonds and the trade has transformed it into a middle-income nation.