A diamond weighing 2,492 carats, the second-largest ever found, has been unearthed at Botswana’s Karowe mine, operated by Canadian company Lucara Diamond. This discovery follows the 3,106-carat Cullinan diamond, uncovered in South Africa in 1905, which was subsequently cut into nine stones, some of which are now part of the British Crown Jewels.
The newly discovered diamond surpasses Botswana’s previous largest find, a 1,758-carat stone also from the Karowe mine, discovered in 2019. It represents the largest diamond ever found in Botswana, which is a major player in the global diamond industry, contributing around 20% of the world’s diamond supply.
Lucara Diamond’s CEO, William Lamb, expressed enthusiasm about the find, stating that the diamond is “one of the largest rough diamonds ever unearthed.” The stone was identified using Lucara’s Mega Diamond Recovery X-ray technology, a method employed since 2017 to safeguard high-value diamonds during the ore-crushing process.
The company has yet to disclose details regarding the diamond’s gem quality or its exact value. However, sources close to Lucara have estimated the diamond’s worth at over $40 million (£30.6 million), according to the Financial Times. The 1,758-carat diamond found in 2019 was purchased by French luxury brand Louis Vuitton, while a 1,109-carat diamond from 2016 was sold for $53 million to Laurence Graff, chairman of Graff Diamonds.
Lucara Diamond fully owns the Karowe mine, and Botswana’s government is considering a new law requiring mining companies to offer a 24% stake to local firms if the government does not exercise its right to become a shareholder.
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