Panna (MP) | A tribal labourer has found a diamond estimated to be valued at Rs 40 lakh at a mine in Madhya Pradesh's Panna district, an official said.

Labourer Madhav was working at a shallow mine in Krishna Kalyanpur Patti where he recently unearthed the 11.95 carat precious stone, he said.

"This diamond is so clean and precious. Its value is being estimated to be more than Rs 40 lakh," Ravi Patel, an official at the Panna diamond office said on Tuesday.

The labourer has deposited the precious stone at the diamond office in Panna as per rules.

The diamond will be auctioned soon and the proceeds, after deducting 12.5 per cent royalty, will be given to the labourer, the official said.

Panna district, located in MP’s Bundelkhand region, is estimated to have diamond reserves of 12 lakh carats.