A spectacular 507.55 carat white diamond has been found at the Cullinan mine in South Africa, where the world's largest gem was found decades ago.

At 507 carats (just over 100 grams) the diamond, which has yet to be named, is considered to be among the top 20 largest high quality rough diamonds ever found worldwide and ranks alongside other illustrious diamonds recovered at the celebrated Cullinan mine.

The latest gemstone was recovered on September 24 and is currently with experts for analysis, said international diamond mining group, Petra Diamonds Limited, in a statement.

''The Cullinan mine has again given the world a spectacularly beautiful and important diamond. Initial indications are that it is of exceptional colour and clarity,'' said Johan Dippenaar, Petra's Chief Executive Officer.

The mine had previously discovered the famous Cullinan Diamond in 1905, which was part of the British crown jewels weighing 3,106 carats.

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