Photo: Lucian Coman/Lucara

The world’s second-largest gem quality diamond has been discovered in Botswana, the Lucara Diamond firm says, the BBC reports.

The 1,111-carat stone was recovered from its Karowe mine, about 500km (300 miles) north of the capital, Gaborone.

It is the biggest diamond to be discovered in Botswana and the largest find in more than a century.

The 3,106-carat Cullinan diamond was found in South Africa in 1905 and cut into nine separate stones, many of which are in the British Crown Jewels.

“The significance of the recovery of a gem quality stone larger than 1,000 carats, the largest for more than a century… cannot be overstated,” William Lamb, the CEO of Lucara Diamond, a Canadian diamond producer, said in a statement.