Rare blue diamond discovered in South Africa

A rare blue diamond which could be worth millions of pounds has been discovered in a South African mine.

The 29.6 carat blue diamond recovered at the Cullinan mine in January 2014. Credit: Petra diamonds

The 29.6 carat stone, one of the rarest and most coveted in the world, was unearthed at the Cullinan mine near Pretoria by Petra Diamonds.

The "exceptional" acorn-sized stone, which is small enough to fit into the palm of a hand, is the latest rare diamond to be discovered in the mine.

Other notable finds include the Cullinan Diamond, which has been described as the largest rough gem ever recovered weighing 3,106 carats, and a 25.5 carat blue stone which sold for $16.9 million (around £10.3m) in 2013.

Petra Diamonds chief executive Johan Dippenaar said: "By some margin...this is probably the most significant stone we've ever, in terms of blue stones, recovered. The stones in the last year or so are selling well above $2 million (£1.2m) per carat."