Botswana Celebrates Discovery of Second Largest Diamond in the World

A monumental discovery has been made in Botswana with the unearthing of a 2,492-carat diamond, now recognized as the second largest diamond ever found. The Canadian mining company Lucara Diamond Corporation, which operates the Karowe diamond mine in northeastern Botswana, announced the astonishing find on Thursday. The massive diamond was detected using advanced X-ray technology, specifically designed to identify and preserve large, high-value diamonds. Lucara Diamond's president, William Lamb, expressed immense excitement, stating, “We are ecstatic about the recovery of this extraordinary 2,492-carat diamond.” This discovery is not only significant in size but also in value, though an official valuation has yet to be provided. This diamond, only second to the legendary 3,106-carat Cullinan Diamond discovered in South Africa in 1905, adds to Botswana’s reputation as one of the world’s leading diamond producers. The find was presented to Botswana’s President, Mokgweetsi Masisi, who enthusiastically acknowledged it as the largest diamond ever discovered in the country. “This is precious,” Masisi remarked as he posed for pictures with the stone, which is roughly the size of a palm.

Botswana, a nation whose economy heavily relies on diamond production, has seen immense growth since the first diamonds were discovered in the country just a year after gaining independence from Britain in 1966. Today, diamonds account for 30% of the nation's GDP and 80% of its exports. The Karowe mine, where the diamond was discovered, has been in operation since 2012 and has produced several remarkable finds, including a 1,758-carat diamond in 2019 and a 1,174-carat diamond in 2021. Lucara's cutting-edge Mega Diamond Recovery X-ray technology, installed in 2017, has been pivotal in uncovering these large gems. President Masisi, optimistic about the future impact of this discovery, mentioned, “With a diamond of this magnitude, I can see roads being built.” His comments reflect the broader significance of such a find for the country’s development.

Tobias Kormind, managing director of 77 Diamonds, Europe’s largest online diamond jeweler, confirmed the diamond's historic status and noted that advancements in technology are likely to lead to more such discoveries in the future. Despite the challenges facing the diamond industry, including competition from lab-grown diamonds and fluctuating market prices, President Masisi remains confident in the value of this gem. While official figures have not been released, estimates suggest the diamond could be worth upwards of $40 million, making it a potential game-changer for Botswana.