Peikwane, a subcontractor for South African diamond mining company Kimberley Consolidated Mining (KCM) has found a 27-carat light pink diamond in the Northern Cape, KCM announced Wednesday.

'Mining Weekly Online' quoted KCM CEO Phemelo Sehunelo as saying that the company was considering beneficating the rare colored diamond, which was uncovered at its Bo Karoo mining site, in order to add to its value before it is sold. He added that he hoped the find would be a shot in the arm for the diamond supplier, which has been plagued by financial uncertainty in recent years. "We have been blessed with this stone," he was quoted as saying.

After the rare diamond is sold, Peikwane will receive a 15% royalty of the gross price, KCM said.