World’s Second-Largest Diamond Discovered in Botswana

A rough diamond weighing 2,492 carats, the second-largest ever discovered, has been unearthed at the Karowe mine in Botswana, owned by Canadian company Lucara Diamond. This discovery is the largest since the 3,106-carat Cullinan diamond was found in South Africa in 1905; the Cullinan was subsequently cut into nine stones, many of which are now part of the British Crown Jewels.

Botswana’s government has announced that this is the largest diamond ever discovered in the country. The previous record-holder in Botswana was a 1,758-carat diamond found at the same mine in 2019.

Botswana is a major global diamond producer, accounting for about 20% of the world’s diamond output. Lucara Diamond, which operates the Karowe mine, described the new find as “one of the largest rough diamonds ever unearthed.” The diamond was detected using Lucara’s Mega Diamond Recovery X-ray technology, which has been in use since 2017 to identify and preserve high-value diamonds during the ore-crushing process.

Details regarding the gem quality and value of the diamond have not been disclosed by Lucara. However, the UK-based Financial Times reported that estimates suggest the diamond could be worth over $40 million (£30.6 million).

The 1,758-carat diamond discovered in 2019 was acquired by French fashion brand Louis Vuitton, although the purchase price was not revealed. Similarly, a 1,109-carat diamond from the same mine, found in 2016, was bought by London jeweler Laurence Graff for $53 million in 2017.

Lucara Diamond retains full ownership of the Karowe mine. In related news, the Botswana government has proposed a new law that would require mining companies to sell a 24% stake to local firms if the government does not choose to exercise its option to become a shareholder.