NEWS
12/16/2018 10:40 EST | Updated 12/16/2018 10:40 EST

Dominion Diamond Mines Says It's Unearthed North America's Biggest Diamond

The 552-carat yellow diamond was found in October.

A 552-carat yellow diamond unearthed in October at the Diavik Diamond Mine, approximately 217 kilometers south of the Arctic Circle in Canada’s Northwest Territories is shown in this undated handout image.
Dominion Diamond Mines ULC/Canadian Press
A 552-carat yellow diamond unearthed in October at the Diavik Diamond Mine, approximately 217 kilometers south of the Arctic Circle in Canada’s Northwest Territories is shown in this undated handout image.

YELLOWKNIFE — A Canadian mining firm says it has unearthed the largest diamond ever found in North America.

Dominion Diamond Mines says the 552-carat yellow diamond was found at its Diavik mine in the Northwest Territories in October.

It says the stone "far surpasses" the previous record-holder, known as the Diavik Foxfire, which was found at the same mine in 2015.

Dominion, which owns 40 per cent of the Diavik mine, says in a statement that the find "is completely unexpected for this part of the world and marks a true milestone for diamond mining in North America."

Partner to cut, polish diamond

It says the gem will not be sold in its rough form, and the company will find a partner in the coming weeks to cut and polish the stone.

The company says it's too early to determine a value for the giant diamond, but the Diavik Foxfire eventually yielded two stones that sold for US$1.3 million.

"The colour and texture of the diamond are a unique example of the journey that natural diamonds take from their formation until we unearth them," Kyle Washington, chairman of Dominion Diamond Mines, said in a statement Thursday.

"Our Diavik Mine has produced some of the most beautiful diamonds in the world, and this one certainly tops the list."