The rough diamond, which was discovered by Petra Diamonds at its Cullinan mine, was described as being a “D colour Type II diamond of exceptional size and clarity”.
The sale of the stone is expected to take place before December, with analysts forecasting that the price would reach between US$10 million (AU$11.1 m) and US$20 million (AU$22.2 m).
Petra’s last white diamond that was made available for purchase – the Cullinan Heritage, which weighed 507 carats – reportedly set the record for the highest price ever paid for a rough diamond after fetching US$35.3 million (AU$39.2 m) in February 2010.
The Cullinan mine is renowned for yielding large diamonds that weigh more than 10 carats.
In June this year, the mining company discovered a rare 122.52-carat blue diamond that was pegged as a contender for breaking the record for the highest price paid for a rough diamond.
At the time of writing, the stone was in the process of being sold, with the deadline for buyer bids having closed on Friday 12 September.
Other famous rough diamonds that originated from the Cullinan mine include the 3,106-carat Cullinan diamond – cuts of which are now featured in the British Crown Jewels – as well as the 755-carat Golden Jubilee and the 599-carat Centenary diamond.
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