The largest diamond in more than a century has been uncovered in Botswana and could fetch more than £25million.

Roughly the size of a small orange, the 1,111 carat diamond is the largest gem quality stone to be found since the 3,106-carat Cullinan diamond was uncovered in South Africa in 1905.

The Lucara Diamond company also revealed this week that this colossal diamond may not be a one off after the mine discovered a 813-carat stone and a 374-carat diamond.

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The diamond is the second largest gem quality diamond to ever be discovered and the second largest in Africa

The Lucara Diamond company also revealed that this colossal diamond may not be a one off after the mine discovered a 813-carat stone and a 374-carat diamond this week

The stone measures 65mm x 56mm x 40mm in size and is the largest ever to be recovered in Botswana.

Originating from the south lobe of Lucara's Karowe Mine, the diamond is the largest ever to be recovered through a modern processing facility.

It is classed as type two quality which means it is devoid of impurities. However its exact colour and clarity is being assessed.

According to mining analyst Phil Swinfen at Numis the stone could sell for more than £25million and would be bought by a diamond expert who would cut and polish it to then be sold on again.

After stones are cut and polished they can be sold at auction for multiples of the original price paid for the rough diamond.

The 1,111-carat diamond is the largest diamond to be found since the 3,106-carat Cullinan diamond was uncovered in South Africa over a century ago

Originating from the south lobe of Lucara's Karowe Mine, the diamond is the largest ever to be recovered through a modern processing facility

'I am truly at a loss for words. This has been an amazing week for Lucara with the recovery of the second largest and also the sixth largest gem quality diamonds ever mined,' said William Lamb, Lucara President and CEO.

'The significance of the recovery of a gem quality stone larger than 1,000 carats, the largest for more than a century and the continued recovery of high quality stones from the south lobe, cannot be overstated,' he said.

REMARKABLE DIAMOND SALES £31.7million: 12.03-carat blue diamond sold by Sotheby’s bought by billionaire Joseph Lau in November 2015. He renamed it Blue Moon of Josephine for his daughter £18.7million: 16.08-carat pink diamond, which Christie's sold in November 2015 which was purchased by Hong Kong tycoon Lau and he renamed it Sweet Josephine £30.7million: 24.78-carat pink diamond bought by diamond company owner Laurence Graff at Sotheby’s Geneva auction in November 2010 £24million: 14.82-carat vivid orange diamond at Christie’s in November 2013 - the highest price-per-carat ever paid at auction Advertisement

Phil Swinfen at Numis said: ‘The large stones attract collectors. They transcend jewellery into art. Just like the Blue Moon, Lucara’s stone will have the fame factor.’

However it is not known how many stones will be made from Lucara’s rough stone and Swinfen said it will be ‘determined by what is the largest possible stone that can be cut.’

When the Cullinan diamond was found the cutter had to study the stone before making the decision of where to hit it with his chisel and hammer. Now technology is far more advanced and stones are cut with the use of lasers.

The discovery by Lucara comes as diamond miners struggle with low prices and weaker demand. Swinfen said: ‘Diamond prices have fallen recently so this discovery will be a real boost to the market.’

Miner Petra Diamonds discovered a 29.6 carat stone that it sold for £17million last year.

This stone was then made into a 12 carat gem that last week sold for a record £32m to a Hong Kong tycoon who renamed it the Blue Moon of Josephine for his daughter.

William Lamb, president and chief executive of Lucara, said: ‘This historic diamond recovery puts Lucara and the Karowe mine amongst a select number of truly exceptional diamond producers.