Canadian firm discovers world's second-largest diamond in Botswana

A 2,492-carat diamond was found in Botswana, which is the second largest, and now only behind the 3,106-carat Cullinan diamond that was found in South Africa

The world's second-largest 2,492-carat diamond has been discovered in Botswana at a mine owned by Lucara Diamond, a Canadian firm. The largest diamond – 3,106-carat – was found in South Africa in 1905, also known as the Cullinan Diamond. It was cut into pieces and later incorporated into the British Crown Jewels. 

Lucara mentioned that the gem was discovered at the Karowe Diamond Mine in northeastern Botswana using X-ray technology. The mining company did not share any value for the "high-quality" stone, however, the Financial Times quoted unnamed sources claiming the gigantic stone could fetch upwards of USD 40 million.

Mega Diamond Recovery (MDR) X-ray Transmission (XRT) technology of Lucara Diamond, which was installed in 2017, has discovered the diamond. The technology was installed to identify and preserve large, high-value diamonds. William Lamb, the President and CEO of Lucara, mentioned that the discovery supports Lucara's investment in XRT investment as well as the potential of its Karowe mine which has made some massive discoveries in the last few years. 

Lamb also issued a statement saying the firm was “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 (X-ray Transmission) technology,” he added.

The images published on Getty Images show Botswana President Mokgweetsi Masisi with the 2,492-carat diamond at his office in the capital of Gaborone. 

As per Globaldata report, Botswana is one of the biggest producers of diamonds and it accounted for 20 per cent of global production last year. 

Producing diamonds is the main source of its income accounting for 30 per cent of its gross domestic product (GDP) and 80 per cent of exports. 

This is not the first time that this country has found such a precious stone; earlier in 2019, it discovered a 1,758-carat Sewelô diamond and the 1,109-carat Lesedi La Rona diamond in 2015 from the same Karowe Diamond Mine.

The Sewelô diamond was purchased by French fashion brand Louis Vuitton for an undisclosed sum in 2020, while the Lesedi La Rona diamond sold for $53 million to British multinational jeweller Graff Diamonds in 2017.