Sierra Leone pastor unearths 706-carat diamond

Freetown : A pastor working in the mines of eastern Sierra Leone has unearthed a 706-carat diamond, a discovery that experts said Thursday could be the 10th largest stone ever found.

The huge rock was extracted by Emmanuel Momoh, one of thousands who seek their fortunes in the informal mining sector that dominates the diamond-rich Kono region.

As a self-employed miner with a valid government permit, Momoh is entitled to the proceeds of any future sale, except four percent the government takes for valuation and export, according to the law, plus an undetermined level of income tax.

Mines Minister Minkailu Mansaray told AFP the government's stake would be used to fund development projects nationwide.

The diamond was presented to President Ernest Bai Koroma late Wednesday before being locked in Freetown's central bank vault. It awaits an official valuation under the Kimberley Process, which certifies diamonds as "conflict-free".

It will then be sold in Sierra Leone under a transparent bidding process, a government statement said, thanking the chief of the Tankoro area where the stone was found for not smuggling it out of the country.

The government has attempted to crack down on cross-border diamond trafficking to persuade foreign investors that the "blood diamonds" that fuelled its civil war are a thing of the past.