A colossal 2,492-carat diamond has been discovered in Botswana, making it the second-largest gem-quality diamond ever found. This extraordinary gemstone was unearthed at the Karowe diamond mine, owned by Canadian company Lucara Diamond Corp.
"We are ecstatic about the recovery of this extraordinary 2,492-carat diamond," said Lucara's president, William Lamb. The diamond was found using Lucara's advanced Mega Diamond Recovery (MDR) X-ray technology, which was installed in 2017 to identify and preserve large, high-value diamonds. Lamb highlighted this discovery as a testament to the effectiveness of the technology and the potential of the Karowe mine.
Lucara has not disclosed specific details about the diamond's quality or value. However, unnamed sources close to the company estimate that the diamond could be worth more than $40 million. This find further solidifies Karowe's reputation as a world-class diamond mine, known for producing some of the largest diamonds in recent years. In 2019, a 1,758-carat diamond from the same mine was purchased by luxury brand Louis Vuitton. Additionally, in 2016, a 1,109-carat diamond was sold to Graff Diamonds for $53 million.
Botswana's President Mokgweetsi Masisi was presented with the diamond, which is roughly the size of a palm. Masisi congratulated Lucara on the discovery, calling it "precious." He also noted that this is the largest diamond ever found in Botswana and the second-largest in the world.
Botswana is one of the world's top diamond producers, with the industry accounting for 30% of the nation's GDP and 80% of its exports. The country, once poor at the time of its independence from Britain in 1966, discovered diamonds a year later and has since become the largest producer of diamonds by value, according to the International Monetary Fund (IMF).
Lucara pays a 10% royalty to the Botswana government on the gross sales value of diamonds produced from the Karowe mine. President Masisi expressed optimism about the potential benefits of this discovery, stating, "With a diamond of this magnitude, I can see roads being built."
Tobias Kormind, managing director of Europe's largest online diamond jeweller, 77 Diamonds, confirmed that this is the largest rough diamond found since the Cullinan Diamond. The Cullinan, discovered in South Africa in 1905, remains the largest gem-quality diamond ever found at 3,106 carats. Parts of the Cullinan diamond are now part of Britain's crown jewels.
Lucara's Karowe mine has produced other massive diamonds in recent years, including a 1,174-carat diamond in 2021, also detected using X-ray technology. The diamond mining industry faces challenges from lab-grown diamonds and reduced spending, but every diamond remains valuable, according to President Masisi.
