Britain now owns world's largest uncut diamond worth S$72 million

The 1109 carat

The Lesedi La Rona-which means "Our Light" in the Tswana language-was found in the Karowe mine in Botswana in November 2015 by the Canadian mining company Lucara Diamond. "It solidified the fantastic potential and rareness of the diamonds recovered at the Karowe mine", William Lamb, president and CEO of Lucara, said in a press release.

A tennis ball-sized rough diamond unearthed almost two years ago by Canada's Lucara Diamond Corp has been sold for $53 million, the Vancouver-based company said on Monday.

"We are thrilled and honoured to become the new custodians of this incredible diamond". It went under the hammer for the first time at Sotheby's in June 2016.

"The only larger diamond previously unearthed was the 3,106-carat Cullinan Diamond, discovered in South Africa in 1905, and it was cut into smaller stones, the largest of which is the 503-carat Star of Africa, which sits in the Queen's Sceptre within the Crown Jewels".

Mr Graff said "The stone will tell us its story, it will dictate how it wants to be cut".

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Laurence Graff, chairman of Graff Diamonds, bought the diamond privately after it failed to meet its reserve price at an auction a year ago.

In a statement on its website, Graff Diamonds called the stone the most valuable rough diamond in the world, and referred to it as a "gift from Mother Nature".

Laurence Graff, OBE and founder of Graff Diamonds, is based in London and the new owner of the Lesedi la Rona, the largest rough diamond discovered in the last century. The Cullinan Diamond was given to King Edward VII and cut into several polished gems.

"(Ecofin Agency) - Lesedi La Rona", the second biggest diamond ever discovered was sold for $53 million (€44.7 million).

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