Petra Diamonds has announced the recovery of a 507.55 carat white diamond at the famous Cullinan mine in South Africa.

The huge diamond was recovered several days ago and is currently undergoing expert analysis. Industry experts place the potential value of the diamond as high as US$19.5m.

According to initial examinations, the spectacular diamond is of exceptional color and clarity, and is most likely a Type II diamond. The company stated that color grading and clarity will be released following the appropriate analysis.

Three other special white diamonds of similar color and clarity were recovered in the same production run along with the stupendous diamond; another very large diamond of 168.00 carats and two other stones of 58.50 and 53.30 carats.

The newly recovered 507 carat diamond is considered to be amongst the top 20 largest high- quality rough diamonds ever found worldwide.

Cullinan is the source of the world’s largest gem diamond ever recovered – the ‘Cullinan’, at 3,106 carats in its rough state. The famous mine has produced two more of the world’s largest diamonds, the Golden Jubilee at 755 carats rough and the Centenary at 599 carats in the rough state.