Lucara Diamond has discovered the world’s second-largest diamond, weighing 2,492 carats, at the Karowe Diamond Mine in Botswana. This significant find, made using advanced X-ray technology, could be valued at over USD 40 million. Botswana remains a leading diamond producer, contributing significantly to its economy with previous major discoveries, including the Sewelô and Lesedi La Rona diamonds.
A remarkable discovery has been made at the Karowe Diamond Mine in northeastern Botswana, where Lucara Diamond, a Canadian firm, unearthed the second-largest diamond in the world, weighing 2,492 carats. This enormous gem follows the historic 3,106-carat Cullinan Diamond found in South Africa in 1905, which was subsequently cut and incorporated into the British Crown Jewels.
The diamond was identified utilizing Lucara’s state-of-the-art Mega Diamond Recovery (MDR) X-ray Transmission (XRT) technology, installed in 2017 to enhance the recovery of large and valuable diamonds. Although Lucara did not disclose the stone’s estimated value, sources cited by the Financial Times suggest it could command a price exceeding USD 40 million.
William Lamb, the President and CEO of Lucara, expressed his excitement over the discovery, stating that it not only confirms the potential of the Karowe Mine but also underscores the efficacy of the firm’s investment in advanced XRT technology. He remarked, “This find not only showcases the remarkable potential of our Karowe Mine, but also upholds our strategic investment in cutting-edge (X-ray Transmission) technology.”
Botswana continues to be a dominant player in the diamond industry, accounting for 20 percent of global production last year. The diamond sector significantly contributes to the nation’s economy, representing 30 percent of its GDP and 80 percent of its exports. Previously, Botswana also recovered the 1,758-carat Sewelô diamond in 2019 and the 1,109-carat Lesedi La Rona diamond in 2015.
The Sewelô diamond was acquired by French luxury brand Louis Vuitton in 2020 for an undisclosed amount, while the Lesedi La Rona sold for USD 53 million to Graff Diamonds in 2017. The continued success of Lucara Diamond in unearthing such significant gemstones exemplifies Botswana’s remarkable mining capabilities and its historical legacy in diamond production.
The discovery of the 2,492-carat diamond by Lucara Diamond in Botswana marks a significant event in the diamond industry, underscoring the country’s rich diamond heritage and substantial contributions to global production. The Karowe Diamond Mine has proven to be a prolific source of major diamond finds, reaffirming the effectiveness of advanced technology in mining. As Botswana showcases its capabilities, the potential economic benefits of such discoveries further enhance its position within the global diamond market.
Original Source: www.business-standard.com
