The world's largest blue diamond has been discovered • and how much is it worth?

Such a bargain: A rare blue diamond weighing 29.6 carats has been discovered by a London-based mining company in a mine in South Africa, Sky News reports.

In 2008, the mining company Petra Diamonds acquired the Cullinan mine in South Africa – considered the world’s largest diamond mine. In 1905, the mine discovered the world’s largest diamond, weighing 3,106 carats (!). That historic diamond was sawn into pieces, some of which now adorn the British crown.

The diamond that has now been discovered is therefore considered the company's most significant achievement in recent years, and a spokeswoman said: "The rarity of a blue diamond of this size makes its discovery a significant discovery.".

And what might the price of the treasure found be?

Last year, the company sold a much smaller blue diamond for a paltry $16.9 million. So how much will the new diamond cost? A company spokesman said the diamond will not be sold before the end of the company's fiscal year, which begins on June 30.

The company's shares, incidentally, jumped 6 percent upon publication of the disclosure.

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