The diamond discovered in Botswana. Credit: Lucara Diamond.
A monumental discovery has been made in Botswana, where a raw 2,492-carat diamond has been exhumed at the Karowe mine.
Found by Canadian company Lucara Diamond, it’s the second-largest diamond ever discovered globally. This follows the legendary 3,106-carat Cullinan diamond found in South Africa in 1905.
The Karowe mine, located approximately 500 kilometres north of Botswana’s capital, Gaborone, has once again proven its worth. This recent discovery surpasses the previous record for Botswana’s largest diamond, a 1,758-carat stone found at the same mine in 2019.
Botswana is renowned for being one of the world’s leading diamond producers, contributing about 20% of global diamond production.
“We are ecstatic about the recovery of this extraordinary 2,492-carat diamond,” said William Lamb, Head of Lucara. He noted that the diamond was identified using the company’s advanced Mega Diamond Recovery X-ray technology. This technology, in use since 2017, is designed to detect and preserve large, high-value diamonds, preventing damage during the ore-crushing process.
How much is the Botswana diamond worth?
While Lucara has not released details regarding the diamond’s quality or estimated value, some news stories have speculated that the stone could be worth more than $40 million (€35.9 million).
The Karowe mine has a history of yielding exceptional diamonds. In 2019, a 1,758-carat diamond was purchased by French luxury brand Louis Vuitton for an undisclosed sum. Additionally, a 1,109-carat diamond found in 2016 was sold to London jeweller Laurence Graff for $53 million (€47.7 million) in 2017.
Diamonds in Europe
Europe has long held a significant place in the history of diamonds, with several of the world’s most famous diamonds making their way to the continent over the centuries. The Cullinan diamond, for example, is part of the British Crown Jewels, housed in the Tower of London – a major attraction for tourists.
Antwerp, Belgium, is often considered the diamond capital of Europe and one of the most important diamond trading centres in the world. Approximately 80% of the world’s rough diamonds pass through Antwerp, making it a hub for diamond cutting, trading and polishing.
Botswana government imposing new mining legislation
This discovery comes at a significant time for Botswana, as the government is considering new legislation that would require mining companies to sell a 24% stake to local firms if the government chooses not to become a shareholder. This proposed law aims to ensure that the wealth generated from the country’s natural resources benefits its citizens.
As the story of this extraordinary gemstone unfolds, it will undoubtedly capture the attention of jewellers and collectors worldwide.
