Historic Discovery: Lucara Unearths Second Largest Diamond Ever Found

• Lucara Diamond Corp. discovered the second largest rough diamond ever, weighing 2,492 carats, at Botswana’s Karowe mine.
• The diamond, discovered using modern X-ray equipment, is vital for Botswana’s diamond industry and economy.
• The stone’s value has yet to be determined, although it is expected to be worth more than $40 million.

A spectacular find has been made in Botswana, where Canadian firm Lucara Diamond discovered the world’s second-largest diamond, an astounding 2,492-carat rough stone. This magnificent jewel, discovered at the Karowe mine, marks a watershed moment in diamond mining history, being the largest find since the legendary 3,106-carat Cullinan diamond, which was discovered in South Africa in 1905. The Cullinan was cut into nine individual stones, many of which now adorn the British Crown Jewels.

The diamond was discovered around 500 kilometers north of Gaborone, Botswana’s capital, at the same mine that has previously produced noteworthy stones. In 2019, the mine produced a 1,758-carat stone, the largest ever unearthed in Botswana. This southern African country is a global leader in diamond production, accounting for roughly 20% of the world’s diamond supply.

Lucara Diamond Corp., in a statement, referred to the stone as “one of the largest rough diamonds ever unearthed”. William Lamb, Lucara’s CEO, expressed the company’s excitement: “We are ecstatic about the recovery of this extraordinary 2,492-carat diamond.”

This massive gemstone was discovered utilizing Lucara’s Mega Diamond Recovery (MDR) X-ray Transmission (XRT) technology. This innovative system, in place since 2017, is intended to identify and preserve high-value diamonds during the mining process, thereby preventing breakage during the ore-crushing stage.

Though information about the stone’s gem quality or value have not been revealed, experts believe it could be worth more than $40 million. Lucara’s past significant discovery, like the 1,109-carat diamond unearthed in 2016 and sold for $53 million to jeweler Laurence Graff, established a high standard for the valuation of such massive stones.

Botswana, a country heavily reliant on diamond exports, sees this discovery as evidence of its expanding dominance in the global diamond business. Lucara’s statement emphasized this achievement: “This discovery symbolizes Botswana’s continued ascent as a global leader in diamond production.”

Botswana’s government has played an active role in shaping the diamond business to benefit the local economy. It recently proposed laws that would require mining corporations to sell a 24% interest to local investors if the government chose not to own directly.

The diamond weighs more than a pound and a half and is large enough to fill an adult’s hand. It was delivered to President Mokgweetsi Masisi, who smiled as he lifted the huge gem up for closer inspection. This historic discovery has the potential to reinvigorate the natural diamond mining industry, which has seen increased competition from lab-produced diamonds in recent years.

Botswana’s latest diamond find not only highlights the country’s natural wealth, but also strengthens its position as a major player in the worldwide diamond market. As the stone is evaluated, all eyes will be on its future sale, most likely to a luxury company, where it will be chopped into smaller jewels and memorialized in high-end jewelry collections.