404-carat Diamond, 404-carat Gem Found

© Lucapa Diamond Company

Massive $14 million diamond found in southern Africa - An Australian company unearthed a massive 404-carat diamond in Angola valued at as much as $14 million, according to ABC.

"We're not used to valuing 400-carat diamonds," Lucapa chairman Miles Kennedy told ABC.

The Lucapa Diamond Company, based in Perth, said it discovered the diamond in its Lulo mine about 300 miles east of Angola's capital, Luanda.

The company claimed the diamond was the largest found on record in the southern African nation as well as the biggest diamond found by an Australian miner.

Angola is the fourth largest diamond-producing nation by value, Lucapa said.

A photograph of the diamond supplied by the company shows it measuring at about 7 centimeters, or 2.75 inches.

The Sydney Morning Herald noted that this diamond's debut comes months after another company found a 1,111-carat stone in Botswana, second only to a 3,106-carat diamond found in South Africa in 1905.