“I expects to get "not less than $50 million" for the 709-carat diamond"- Pastor Momoh

Pastor Momoh discovered diamond, weighing 709 carat in Kono district, Sierra Leone.

Pastor Momoh's discovery is the biggest diamond to be found in Sierra Leone since 1972, when the 969-carat Star of Sierra Leone was dug up.

Last May, diamond-mining firm Lucara sold a 813-carat stone for $63m (£51m) at a closed auction in London.

Emmanuel Momoh, a Christian pastor in Sierra Leone, who discovered one of the world's largest uncut diamonds in the country, has said he expects to get "not less than $50 million" for the 709-carat precious stone, after it failed to reach its minimum reserve price at auction in Sierra Leone today, May 11, BBC reports. 

Momoh said: "I want my diamond to be sold abroad so I can get the best price to enable many people to benefit from the proceeds.”

According to the report, today's highest bid for the diamond stood at $7.8m. It came from a UK citizen based in Antwerp, the European diamond capital in Belgium, where the next auction is expected to take place in the next few weeks.

However, the reserve price, which is the minimum amount that the diamond can be sold for and was set by the Sierra Leonean government, is a secret.