Historic Discovery in Botswana: The World's Second Largest Diamond
Botswana has unveiled the discovery of the second-largest diamond ever recorded. The colossal gem, weighing an extraordinary 2,492 carats
In a groundbreaking event that has captivated the global diamond industry, Botswana has unveiled the discovery of the second-largest diamond ever recorded. The colossal gem, weighing an extraordinary 2,492 carats, was unearthed at the Karowe Diamond Mine, a site already renowned for its production of exceptional diamonds. This discovery is acclaimed as one of the most significant in over a century, ranking just behind the famed Cullinan diamond, which was unearthed 120 years ago in South Africa.
The newly discovered diamond underscores Botswana's prominence as a leading player in the global diamond industry. At 2,492 carats, the gem is more than 4,900 times larger than the typical 0.5-carat diamond often chosen for wedding rings. The sheer size and quality of this diamond have led experts to estimate its value at over $35 million, although the final price could increase substantially depending on how the diamond is cut and marketed.
The only diamond larger than this recent find is the renowned Cullinan diamond, which weighed an astonishing 3,106 carats when discovered in 1905. The Cullinan was eventually cut into nine major stones, many of which now adorn the British Crown Jewels.
Economic Impact for Botswana
Diamonds are a cornerstone of Botswana's economy, providing essential revenue and driving development. Lefoko Maxwell Moagi, the Minister of Minerals and Energy, emphasised the significance of diamond revenue in supporting national progress:
"We have used a large portion of the diamond revenue to create numerous opportunities in Botswana, ranging from education to job creation, and to stimulate the economy through industrialisation."
This discovery is anticipated to further enhance Botswana’s economic prospects. Lucara Diamond Corp., the mining company responsible for the find, is required to remit 10% of the gross revenue from the diamond to the Botswana government. This contribution will significantly bolster public finances and support ongoing economic development efforts.
The future of this monumental diamond is yet to be determined. It may be cut into a series of exquisite gems or become the centrepiece of a prestigious collection. Regardless of its ultimate fate, the 2,492-carat diamond has already secured its place in history, symbolising Botswana's rich natural heritage and its pivotal role in the global diamond industry.
