Canadian mining company Lucara Diamond Corp announced the discovery of a massive 2,492-carat diamond, the second-largest ever discovered, at the Karowe Diamond Mine in northeastern Botswana.
This remarkable find, detected using advanced X-ray technology, is second in size only to the legendary 3,016-carat Cullinan Diamond, discovered in South Africa in 1905.
Lucara's president, William Lamb, expressed excitement over the recovery of this extraordinary stone, noting that it is among the largest rough diamonds ever found. Lucara Botswana's managing director, Naseem Lahri, revealed the stone to President Mokgweetsi Masisi.
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President Masisi hailed the diamond as the largest ever discovered in Botswana and congratulated Lucara on the achievement, emphasizing its significance to the nation.
Botswana, one of the world's top diamond producers, relies heavily on diamonds, which, according to the International Monetary Fund (IMF), contribute 30% of its GDP and 80% of its exports.
The country, home to approximately 2.5 million people, was one of the poorest nations when it gained independence in 1966. However, a year later, the discovery of diamonds transformed its economy, making it the world’s leading producer by value.
Lucara has operated the Karowe mine since 2012. The mine has yielded several significant diamonds, including a 1,758-carat stone in 2019 and a 1,174-carat diamond in 2021. The company pays a 10% royalty on the gross sales of diamonds from the Karowe mine to the Botswanan government.
Despite challenges in the diamond market, including competition from lab-grown diamonds and weaker spending, industry insiders say the discovery of this extraordinary diamond could command a value of over $40 million.
