World’s Second-Largest Diamond Found in Botswana (2024)

An astonishing discovery in Botswana reveals the world’s second-largest diamond, a 2,492-carat gem unearthed at Karowe mine, marking another milestone for the nation’s diamond industry. Orapa, the world’s largest diamond producer, has produced another giant diamond – a 2,492-carat stone from the Karowe mine, 500 kilometers (300 miles) north of the country’s capital, Gaborone. The massive stone is the second largest diamond discovered in the world after the Cullinan diamond discovered in 1905.

FINDING OF A GIANT GEM

The massive 2,492-carat diamond was mined in November 2015 – credited with its discovery by Canadian firm Lucara Diamond, which operates the Carraway mine. The Botswana government has confirmed in its account that the gem is the largest ever found in all of South Africa. This discovery follows the discovery of a 1,758-carat stone in the same mine in 2019.


Lucara Diamond is an international company that also has an excellent diamond recovery record. The gem was also detected by their Mega Diamond Recovery X-ray technology which was introduced in early 2017. This technology, used in diamond mining, identifies precious stones that would otherwise be destroyed by mechanical operations such as ore crushing.

The increased importance of the Karowe mine

The mine will be known for its consistent and large production of high-value diamonds. Since the mine was acquired by Lucara Diamond, many of the largest diamonds on the planet have been found at this location. Apart from the most recent one of 2,492 carats and 1,758 carats discovered in 2019, 1,109 carats were discovered in 2016. The stone was sold in 2017 to a London-based jeweler for $53 million ($39.5 million).


From these discoveries, it can be clearly seen that the future of this mine is very bright. The recent discovery underscores Botswana’s role as a key member of the global diamond sector.

Botswana: A Diamond Mining Colossus

Diamonds are Botswana’s main export and it is one of the largest producers of diamonds in the world, accounting for 20% of global production. Diamond mining is one of the main sources of income in this country so the discovery of this huge stone puts the country on the world map.

It’s certainly no secret that Botswana is a major player, or at least has been in the diamond business for a few decades, and this discovery serves to put them in an even better light. In general, the government has treated mining firms favorably that have enhanced exploration experience.

Lucara Diamond Company as a player in Botswana

Over the years, Lucara Diamond has emerged as a key stakeholder in Botswana’s diamond mining industry. Owning the mine, which is Karowe, and using some of the best recovery tools, the firm is consistently among the leading stone producers in the country. Such performance can be explained by the fact that the recovery of the 2,492-carat diamond is one of the many outstanding achievements of the company.

Analyzing the case of Lucara, it can be mentioned that innovation is the key to the company’s success. They use advanced tools to identify diamonds such as the Mega Diamond Recovery System which helps in checking diamonds that can easily be damaged or lost. This has been instrumental in their success and has proven to produce some of the largest stones ever produced.

However, the question of the future of diamond mining in Botswana will remain in suspense as long as the government continues to monopolize the diamond mines.
As Botswana is among the world’s leading diamond producers, the government is trying to guarantee that it will take advantage of its gifts. The government has recently enacted legislation that requires companies interested in mining to offer a 24 percent stake worth 24 percent when the government grants a mining license to local firms. be sold if the Government does not exercise its right. Shareholders consider this as a move to reinvest a greater percentage of the real value of diamonds within the country.

Although it is not yet known what the price and quality of the 2,492-carat gem is, the search is justified. Global buyers will be interested in the long run. Hera might be one of the most famous people.”

Prior Sales from Karowe Mine

Lucara Diamond Corporation has produced large diamonds in the past which it has sold to reputable buyers. A 1,758-carat diamond he mined from the Carve mine that same year was bought by French fashion house Louis Vuitton Co. for an undisclosed amount. Similarly, a 1,109-carat diamond found in 2016 was sold to Lawrence Graff for $53 million. The sale reflects the existence of a large and exceptional demand for prime diamonds in the market, with the newly discovered 2,492-carat stone likely to achieve similar demand.

Conclusion

Lucara Diamond and Botswana as a country have every reason to celebrate as they have recorded another triumph with the discovery of the world’s second-largest diamond. Botswana is one of the world’s largest diamond producers, and the discovery reaffirmed that position while showing that the Karowe mine could produce some of the largest diamonds internationally. The government is keen to ensure that revenue generated from the sale of diamonds in the country is realized and thus Botswana is poised to sustain its success in the diamond sector.