Diamond companies De Beers and Diacore have partnered to purchase a diamond worth nearly £30 million.

The duo have teamed up before for the purchase of five rare blue diamonds from the Cullinan mine totalling 85.62 carats.

They paid $40.36 million (£29.18 million) for the blue diamonds, and this time paid $40.18 million (£29.05 million) for a 39.34-carat blue diamond also from Cullinan Diamond Mine.

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The South African mine has produced some of the most valuable diamonds ever mined, including the largest rough diamond ever found.

Paul Rowley, executive vice president of diamond trading at De Beers Group, said: “It is a privilege to have the opportunity to work with such a miracle of nature and a delight to see the legendary Cullinan deposit producing yet another breathtakingly beautiful gemstone.

“It’s great to be working again with Diacore on this diamond, given their outstanding history of releasing the true beauty of exceptional finds such as this.”

Nir Livnat, chairman of Diacore, meanwhile, added: “We’re excited and humbled to have the opportunity of designing and shaping one of the most special and rare blue diamonds of such size and colour.

“Joining forces with De Beers specialists alongside our master cutters will enable us to create a world-class masterpiece.”