A remarkable discovery has been made in Botswana’s Karowe Diamond Mine—a massive 2,492-carat diamond, now recognized as the second largest ever found in the world. The Canadian mining company, Lucara Diamond Corp., made the announcement on Thursday, marking a significant milestone in the world of gemology.
This extraordinary diamond, nearly the size of a palm, was unearthed using advanced X-ray detection technology, specifically the Mega Diamond Recovery (MDR) X-ray system that Lucara installed in 2017. This state-of-the-art technology is designed to identify and preserve large, high-value diamonds, a capability that has proven its worth with this latest find.
The discovery of this diamond is not just a geological triumph but also a moment of national pride for Botswana. The country’s President, Mokgweetsi Masisi, was personally presented with the translucent stone by Naseem Lahri, the managing director of Lucara Botswana. During the presentation, President Masisi expressed his elation, stating, “I’m told this is the largest diamond to be discovered in Botswana to date and the second in the world. This is precious.”
Botswana has long been one of the world’s leading producers of diamonds, with the gemstone playing a crucial role in its economy. Diamonds account for 30 percent of the country’s GDP and 80 percent of its exports, making them the backbone of Botswana’s financial stability. This latest discovery only cements the country’s reputation as a diamond-rich nation.
The historical significance of this find cannot be overstated. In terms of carat weight, this diamond is second only to the 3,016-carat Cullinan Diamond, which was discovered in South Africa in 1905. The Cullinan Diamond remains the largest rough diamond ever found, with parts of it adorning the British Crown Jewels. The new find from Botswana, however, is the largest diamond discovered since the Cullinan and is a testament to the technological advancements that have revolutionized the diamond mining industry.
Tobias Kormind, managing director of Europe’s largest online diamond jeweler, 77 Diamonds, highlighted the role of new technology in this discovery. “This discovery is largely thanks to newer technology that allows larger diamonds to be extracted from the ground without breaking into pieces. So we will likely see more where this came from,” he noted.
Before this monumental find, the largest diamond discovered in Botswana was a 1,758-carat stone, also mined by Lucara at the Karowe mine in 2019, and named Sewelo. Lucara has consistently pushed the boundaries of diamond mining, with the Karowe mine producing a 1,174-carat diamond in 2021 using the same X-ray technology. The mine, which began production in 2012, has a track record of success, having sold 216 diamonds for more than $1 million each and over 11 single diamonds for more than $10 million each.
Despite the grandeur of this discovery, the diamond mining industry is facing challenges, including competition from lab-grown diamonds and weaker consumer spending. “Diamond prices are going through a difficult time now,” President Masisi acknowledged. “But every diamond is precious and valuable. We have to optimize and get the best price for this diamond.”
While Lucara has not yet provided an official estimation of the diamond’s value, sources close to the company suggest it could be worth upwards of $40 million. The potential impact of this diamond on Botswana’s economy is significant, with President Masisi optimistically noting, “With a diamond of this magnitude, I can see roads being built.”
In a world where the diamond industry is evolving rapidly, the discovery of this 2,492-carat diamond serves as a reminder of the timeless allure and enduring value of natural diamonds. Botswana’s Karowe Diamond Mine continues to shine as a beacon of excellence in the world of gem mining, promising more extraordinary finds in the future.
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