Botswana Unveils Second-Largest Diamond in History: A 2,492-Carat Marvel

In a remarkable discovery that has captured the world’s attention, a 2,492-carat diamond, now recognised as the second-largest ever found, has been unearthed in Botswana. The Canadian mining company Lucara Diamond Corp, which operates the Karowe Diamond Mine in northeastern Botswana, announced this extraordinary find, marking a significant milestone in the global diamond industry.

The diamond was detected using Lucara’s advanced Mega Diamond Recovery X-ray technology, a system specifically designed to identify and preserve large, high-value diamonds during the mining process. This technology, introduced in 2017, has been instrumental in preventing the destruction of such gems during the ore-crushing phase.

William Lamb, President of Lucara Diamond Corp, expressed the company’s excitement: “We are ecstatic about the recovery of this extraordinary 2,492-carat diamond.” Photographs released by the company depict the massive stone, which is nearly the size of a human palm.

This latest find is particularly significant for Botswana, a nation that has steadily risen to prominence as one of the world’s leading diamond producers. Diamonds account for 30% of the country’s gross domestic product and 80% of its exports, making this discovery not just a geological marvel but also a critical economic asset.

Botswana’s President, Mokgweetsi Masisi, was among the first to view the diamond, underscoring the stone’s importance to the nation. The government has hailed the diamond as the largest ever discovered in Botswana, further solidifying the country’s position in the global diamond industry.

The Karowe mine has a history of producing some of the world’s largest diamonds. In 2019, it yielded the 1,758-carat Sewelo diamond, which was later purchased by French luxury brand Louis Vuitton. Earlier, in 2016, the mine produced the 1,111-carat Lesedi La Rona diamond, which was sold for $53 million to British jeweller Laurence Graff.

While Lucara has not yet disclosed the quality or potential value of this latest diamond, industry experts have speculated that the stone could be worth upwards of $40 million, given its size and the precedent set by previous large finds.

Botswana’s diamond industry is undergoing significant changes as the country seeks to increase its share of the wealth generated by its natural resources. A recent government proposal suggests that companies granted mining licenses may be required to sell a 24% stake to local firms if the government does not opt to become a shareholder.

This discovery comes as Botswana continues to assert its influence in the diamond industry, particularly through negotiations with global diamond giant De Beers. Last year, Botswana secured a larger share of the stones mined in the country under a new 10-year agreement, reflecting its growing clout in this lucrative sector.

As Botswana prepares to showcase this remarkable diamond to the world, it stands as a symbol of the country’s rich natural heritage and its strategic importance in the global diamond trade. The diamond, yet to be named, is not only a testament to Botswana’s mineral wealth but also a beacon of its potential to shape the future of the diamond industry.