In a remarkable discovery, a colossal diamond weighing 2,492 carats has been unearthed in Botswana, securing its place as the second-largest diamond ever found. This fist-sized gem, with its champagne hue, stands as a testament to Botswana's position as the world's second-largest diamond producer by value.
The stone's emergence from Lucara's Karowe mine marks another triumph for the facility, which has yielded four of the world's largest diamonds since its inception in 2012. William Lamb, Lucara's chief executive, expressed elation over the find, highlighting the mine's potential and the company's strategic investment in cutting-edge X-ray transmission (XRT) technology.
This groundbreaking technology has revolutionized diamond extraction, allowing for the identification and careful removal of large stones without fragmentation. The success of this method is evident in the Karowe mine's track record, which includes the discovery of the 1,758-carat Sewelô diamond in 2019 and the 1,111-carat Lesedi La Rona in 2015.
The diamond industry, facing challenges from lab-grown alternatives and ethical concerns, welcomes this discovery as a significant boost. Botswana's economy, heavily reliant on diamond mining, stands to benefit substantially from this find. The country's partnership with De Beers and its use of diamond wealth for infrastructure and social development programs underscore the importance of such discoveries.
Experts are yet to fully evaluate the stone, but industry sources suggest it could command a price of up to £53 million. The diamond is scheduled for presentation at the office of Mokgweetsi Masisi, Botswana's president, with expectations that it will be acquired by a prominent jewelry or fashion house.
This discovery invites comparison with other legendary diamonds. The Cullinan Diamond, unearthed in South Africa 119 years ago, remains the largest at 3,106 carats. Parts of the Cullinan, including the Great Star of Africa weighing 530.4 carats, now adorn the British Crown Jewels.
The diamond industry's landscape has evolved significantly since these historic finds. The rise of lab-grown diamonds, chemically identical to their natural counterparts, has introduced new market dynamics. However, the allure of natural, large diamonds persists, as evidenced by Louis Vuitton's acquisition of the Sewelô diamond and Graff's purchase of the Lesedi La Rona for $53 million in 2017.
As Botswana continues to leverage its diamond resources, employing thousands in the mining sector, this latest discovery reaffirms the country's status in the global diamond market. It also highlights the ongoing importance of natural diamonds in an era of synthetic alternatives, showcasing the enduring value of these rare geological marvels.
"For the diamond mining sector, this discovery is a stand out moment."
This monumental find not only celebrates Botswana's geological riches but also underscores the continuing significance of natural diamonds in the luxury market, despite the growing presence of lab-grown alternatives.