Historic Diamond Discovery: Second-Largest Gem Unearthed in Botswana

In a remarkable discovery, a rough diamond weighing 2,492 carats has been found in Botswana, making it the second-largest diamond ever uncovered. The find was made at the Karowe mine, which is operated by Canadian company Lucara Diamond. This discovery surpasses the previous record set by a 1,758-carat diamond found at the same mine in 2019.

The newly discovered diamond is notable not only for its size but also for its significance in the diamond industry. It follows in the footsteps of the legendary Cullinan diamond, a 3,106-carat gem unearthed in South Africa in 1905. The Cullinan diamond was cut into several stones, many of which are now part of the British Crown Jewels.

The Karowe mine, situated approximately 500 kilometers (about 300 miles) north of Botswana’s capital, Gaborone, has proven to be a prolific source of significant diamonds. This latest find marks a new milestone for the mine, enhancing Botswana’s reputation as a major player in the global diamond market. The country contributes around 20% to the world’s diamond production, underscoring its importance in the industry.

Lucara Diamond, which holds full ownership of the Karowe mine, expressed their excitement about the discovery. “We are ecstatic about the recovery of this extraordinary 2,492-carat diamond,” said William Lamb, the CEO of Lucara. The diamond was identified using the company’s Mega Diamond Recovery X-ray technology, which has been in use since 2017. This advanced technology is designed to detect and preserve valuable diamonds during the ore-crushing process, helping to prevent them from breaking.

While Lucara has yet to disclose specific details about the gem’s quality or its potential value, the significance of this find is clear. For context, a 1,109-carat diamond discovered at the same mine in 2016 was purchased by London jeweler Laurence Graff for $53 million in 2017. Additionally, the 2019 1,758-carat diamond was acquired by French fashion brand Louis Vuitton for an undisclosed amount.

Botswana’s government has also been proactive in leveraging its diamond resources. Recent legislative proposals include a requirement for mining companies to sell a 24% stake in their operations to local firms if the government does not choose to become a shareholder. This move aims to ensure greater local participation in the diamond industry, reflecting Botswana’s commitment to maximizing the benefits of its natural resources for its citizens.

This latest discovery is poised to make waves in the diamond market, with industry observers eagerly anticipating further updates on the gem’s evaluation and potential sale. The find reinforces Botswana’s position as a leading diamond producer and highlights the continued potential for extraordinary discoveries in the region.