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World’s Second Largest Diamond Unearthed in Botswana, Valued Over USD 40 Million

by Becky
2024-08-24
in News
A A
Largest Diamond

(Instagram/diamond.rush)

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Jakarta, IndoneiaSentinel.com — A massive 2,492-carat diamond has been discovered at a mine owned by Canadian company Lucara Diamond in Botswana, marking the second-largest diamond ever found in history.

This remarkable find, reported by the BBC on Friday, August 23, 2024, comes close behind the legendary 3,106-carat Cullinan diamond, which was unearthed in South Africa in 1905 and later cut into nine separate stones.

The diamond was found at the Karowe mine, located approximately 500 kilometers (300 miles) north of Botswana’s capital, Gaborone. According to the Botswana government, this is the largest diamond ever discovered in the southern African nation.

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Lucara Diamond previously unearthed Botswana’s former record holder, a 1,758-carat stone, from the same Karowe mine in 2019.

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“This is one of the largest rough diamonds ever recovered,” Lucara Diamond stated, with CEO William Lamb expressing excitement over the find: “We are thrilled with the discovery of this extraordinary 2,492-carat diamond.”

The gem was detected using Lucara Diamond’s state-of-the-art Mega Diamond Recovery technology, which employs advanced X-ray imaging to identify such massive glorious stones.

The UK-based Financial Times reported that insiders estimate the diamond’s value to exceed USD 40 million, or approximately IDR 626.1 billion.

Botswana is one of the world’s top diamond producers, contributing around 20% of global supply. Lucara Diamond owns 100% of the Karowe mine, which continues to yield significant finds.

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In 2019, French luxury brand Louis Vuitton purchased a 1,758-carat diamond from the same mine, although the price was not disclosed. Another notable discovery, a 1,109-carat diamond, was sold in 2017 to London jeweler Laurence Graff for USD 53 million (IDR 829.9 billion).

In a move to benefit the local economy, the Botswana government has proposed legislation requiring mining companies to sell 24% of their shares to local entities if the government does not exercise its option to become a shareholder.

(Agung)

Tags: BotswanaDiamondLucara DiamondX-Ray
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