Petra uncovers 232-carat white diamond from Cullinan mine

FTSE 250-listed diamond miner Petra Diamonds on Tuesday announced the recovery of an "exceptional" 232.08-carat white diamond at its Cullinan mine in South Africa.

"The stone is a D colour Type II diamond of exceptional size and clarity, and is a magnificent example of the large, high quality diamonds for which the mine is known," the company said.

The sale of the stone is expected to take place in the second quarter of this financial year ending 30 June 2015. The company will update the market on the expected timing.

Cullinan is one of Petra's six operating mines (five in South Africa and one in Tanzania) and has produced four of the top 20-largest high-quality gem diamonds in history.

The eponymous Cullinan diamond was found there in 1905, the largest rough gem diamond ever discovered at 3,106 carats, which now forms part of the Crown Jewels in the Tower of London.