In a momentous discovery for the diamond industry, Botswana has unveiled a colossal 2,492-carat rough diamond, the second-largest ever unearthed. Mined at the renowned Karowe mine, located approximately 300 miles north of the capital Gaborone, the gem was recovered by Lucara Diamond Corp. of Vancouver, British Columbia, using cutting-edge X-ray technology.
The monumental diamond was officially presented to the world on August 22, 2024, in a ceremony led by Botswana’s President, Mokgweetsi Masisi. Weighing nearly half a kilogram (approximately one pound), the gem represents a remarkable milestone in the history of diamond mining and underscores Botswana’s status as a leading producer of high-value diamonds.
The discovery of this extraordinary diamond follows a legacy of significant finds from the Karowe mine, which previously yielded the 813-carat Constellation diamond and other notable stones. However, this latest find stands out as the largest diamond discovered since 1905, second only to the legendary 3,106-carat Cullinan diamond found in South Africa over a century ago.
The Cullinan diamond, which was eventually cut into multiple pieces, remains an iconic part of the British Crown Jewels, with the Cullinan I and II prominently set in the Sovereign Scepter and the Imperial State Crown, respectively.
Lucara Diamond Corp. attributes this groundbreaking discovery to its investment in state-of-the-art Mega Diamond Recovery (MDR) X-ray Transmission (XRT) technology. This advanced technology has significantly enhanced the company’s ability to extract large, high-quality diamonds without damage.
The Future of the 2,492-Carat DiamondWhile the newly unearthed diamond has yet to be named, speculation is already mounting regarding its potential fate. Historically, such massive rough stones have been cut into multiple diamonds of exceptional quality, often fetching tens of millions of dollars in the market. Experts anticipate a similar trajectory for this new gem, with leading luxury brands likely to vie for the opportunity to craft exquisite jewelry pieces from it.
Lucara’s President and CEO, William Lamb, expressed excitement over the discovery, stating, “We are ecstatic about the recovery of this extraordinary 2,492-carat diamond. This find not only showcases the remarkable potential of our Karowe Mine but also upholds our strategic investment in cutting-edge XRT technology. The ability to recover such a massive, high-quality stone intact demonstrates the effectiveness of our approach to diamond recovery and our commitment to maximizing value for our shareholders and stakeholders.”
Botswana has long been recognized as one of the world’s top diamond producers, and this latest find further cements its position on the global stage. The country’s diamond mining industry plays a crucial role in its economy, contributing significantly to GDP, employment, and foreign exchange earnings. The Karowe mine, operated by Lucara, has been instrumental in elevating Botswana’s reputation for producing some of the most valuable diamonds in history.
As the world awaits further details on this extraordinary find, all eyes are on Botswana and Lucara to determine the diamond’s ultimate destiny—whether it will be showcased as an intact masterpiece or transformed into multiple dazzling gems that will adorn the finest jewelry collections in the world.
One thing remains certain: the discovery of the 2,492-carat diamond marks a historic milestone, reinforcing the limitless potential of Botswana’s diamond industry and the advancements in mining technology that continue to redefine the possibilities within the gem world.
The discovery of this extraordinary diamond not only reaffirms Botswana’s position as a global leader in the diamond industry but also highlights the country’s ongoing contributions to the world of gemology. As experts assess its potential value and future, the world eagerly anticipates whether this rare gem will remain intact or be transformed into exquisite jewelry masterpieces. One thing is certain—this discovery marks a new milestone in the history of diamond mining and Botswana’s legacy in the gem world.
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