Botswana Unveils Second-Largest Diamond in the World, a 2,492-Carat Gem Worth Over $40 Million.
(The Post News)- A massive 2,492-carat diamond was discovered in Botswana’s Karowe Diamond Mine by a Canadian mining company, Lucara Diamond Corp.
The company made the announcement, revealing that the diamond was detected using advanced x-ray technology.
This extraordinary find is considered one of the largest rough diamonds ever unearthed, second only to the 3,016-carat Cullinan Diamond discovered in South Africa in 1905.
The company’s president expressed excitement and pride in the recovery of this remarkable diamond.
The diamond was presented to President Mokgweetsi Masisi, who congratulated the company on the find, noting its significance as the largest diamond discovered in Botswana to date.
The president also highlighted the potential benefits of this discovery for the country.
Botswana, a major diamond-producing country, relies heavily on diamond exports, which account for 30% of its GDP and 80% of its exports.
The discovery of diamonds in 1967 transformed the country’s economy, and today it stands as the world’s largest producer by value.
The find is attributed to Lucara’s advanced Mega Diamond Recovery X-ray technology, installed in 2017.
Industry experts predict that this discovery will lead to more significant finds, thanks to newer technology that allows for the extraction of larger diamonds without breakage.
Lucara pays a 10% royalty on the gross sales value of diamonds produced in Karowe to the government.
The mine started production in 2012 and has since sold 216 diamonds for over $1 million each and 11 single diamonds for over $10 million each.
The diamond mining industry has faced challenges from lab-grown diamonds and weaker spending.
However, this remarkable find is seen as a boost to the sector.
The diamond is estimated to be worth over $40 million, according to sources close to Lucara.
Tobias Kormind, managing director of Europe’s largest online diamond jeweller, 77 Diamonds, confirmed that this is the largest rough diamond to be unearthed since the Cullinan Diamond.
He attributed the discovery to newer technology that allows larger diamonds to be extracted without breakage.
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