Massive diamond discovered in South Africa, coming in at more than 1,100 carats

A massive diamond has been discovered in South Africa. It's more than 1,100 carats, making it the biggest gem quality diamond discovered in more than 100 years.

The giant diamond was found in a Botswana mine owned by Lucara. Shares of the company have soared 35 percent since it unveiled the stone.

By the way, the largest gem quality diamond ever was more than 3,000 carats. It too was found in South Africa but in the year 1905.