Canadian Company Lucara Diamond Unearths Second-Largest Diamond Ever Found in Botswana
While Lucara has yet to disclose details about the gem quality or estimated value of the stone, insiders suggest it could be worth upwards of $40 million.
A Record-Breaking Discovery: Lucara Diamond Unearths Second-Largest Diamond Ever Found in Botswana
In a stunning discovery, a 2,492-carat rough diamond, the second-largest diamond ever found, has been unearthed in Botswana at the Karowe mine, operated by Canadian company Lucara Diamond. This remarkable find is the largest since the 3,106-carat Cullinan diamond, discovered in South Africa in 1905 and famously cut into stones now part of the British Crown Jewels.
Located approximately 500 kilometers north of Botswana's capital, Gaborone, the Karowe mine has solidified its reputation as a premier source of extraordinary gems. The Botswana government proudly announced that this is the largest diamond ever discovered in the country, surpassing the 1,758-carat stone found at the same mine in 2019. "We are ecstatic about the recovery of this extraordinary 2,492-carat diamond," stated Lucara's CEO, William Lamb. He credited the discovery to Lucara's advanced Mega Diamond Recovery X-ray technology, which has been in use since 2017 to prevent high-value diamonds from breaking during ore-crushing processes.
As Botswana continues to be a major player in the global diamond industry, accounting for about 20% of global production, this find raises important questions about the future of diamond mining in the region. How will this discovery impact Botswana's economy and its standing in the global diamond market? And what does it mean for the future of Lucara Diamond and its innovative mining techniques?
While Lucara has yet to disclose details about the gem quality or estimated value of the stone, insiders suggest it could be worth upwards of $40 million. The previous record-holder from Karowe was purchased by Louis Vuitton, while another significant find in 2016, a 1,109-carat diamond, was sold for $53 million to London jeweler Laurence Graff. These transactions highlight the lucrative potential of such rare discoveries.
With full ownership of the Karowe mine, Lucara is well-positioned to continue its role as a leader in diamond mining innovation. However, a new law proposed by the Botswana government could impact future operations, requiring mining companies to offer a 24% stake to local firms if the government does not opt to become a shareholder.
As the mining world buzzes with this latest news, investors and industry professionals alike are watching closely. What could this mean for the future of Botswana’s diamond industry? How might Lucara's technology shape the discovery of future gems?
For more details on this monumental discovery, read the official statement from Lucara Diamond
