A remarkable discovery in Botswana has just made headlines globally. A 2,492-carat diamond has been unearthed, marking it as the second-largest diamond ever found in the world and the largest ever recovered in Botswana. This extraordinary gem has captured the attention of the diamond industry and enthusiasts alike.
Botswana’s Diamond Discovery: A Historic Find
On August 21, 2024, Canadian mining company Lucara Diamond announced the discovery of this colossal diamond from its Karowe mine. The find has been hailed as both “exceptional” and “high-quality” by Lucara’s President and CEO, William Lamb.
Key Details About the Discovery:
- Carat Weight: 2,492 carats
- Location: Karowe Mine, Botswana
- Discovery Date: August 2024
Lamb expressed the company’s excitement about this “extraordinary” find, crediting their use of advanced X-ray technology since 2017 for detecting such massive stones. The diamond was recovered intact, showcasing the technological advancements in modern mining operations.
Comparing the Giants: Cullinan vs. Botswana’s New Gem
While this new diamond is a monumental find, it is not the largest ever discovered. That title belongs to the Cullinan diamond, a 3,106-carat gem found in South Africa in 1905. The Cullinan diamond was cut into several stones, with some becoming part of the British crown jewels. Notably, Cullinan I, known as the “Great Star of Africa,” is mounted in the Sovereign’s Scepter and was prominently displayed during Queen Elizabeth II’s funeral and King Charles III’s coronation.
Cullinan Diamond Highlights:
- Size: 3,106 carats
- Location: South Africa
- Historical Significance: Featured in British crown jewels
The Cullinan diamond’s rich history and its role in the British monarchy make it one of the most famous diamonds in the world. However, Botswana’s latest discovery adds a new chapter to the story of diamond exploration.
Botswana’s Diamond Mining Legacy
Botswana has been a significant player in the diamond industry for decades. The Karowe mine, operated by Lucara Diamond, has previously yielded some of the world’s largest diamonds, including the Sewelo diamond, a 1,758-carat gem discovered in 2019, and the Lesedi La Rona, a 1,111-carat diamond found in 2015.
Notable Diamonds from Karowe Mine:
- Sewelo Diamond: 1,758 carats, purchased by Louis Vuitton
- Lesedi La Rona: 1,111 carats, bought for $53 million
These discoveries underscore Botswana’s status as a leading diamond producer and highlight the country’s potential for future finds. The new 2,492-carat diamond further solidifies Botswana’s position in the global diamond market.
Botswana’s New Mining Law
In addition to the exciting discovery, Botswana has proposed a new law impacting the diamond industry. This law would require mining companies to sell a 24 percent stake in their mines to local investors unless the government opts to acquire the shareholding. This move aims to boost local ownership and ensure that the benefits of mining activities contribute to the country’s economic growth.
Key Points of the Proposed Law:
- Requirement: 24 percent stake to be sold to local investors
- Objective: Increase local ownership and benefit the economy
This legislative change reflects Botswana’s commitment to maximising the value derived from its natural resources and ensuring that the local population shares in the wealth generated from diamond mining.
Conclusion: The Impact of the New Find
The discovery of the 2,492-carat diamond in Botswana is a significant milestone in the diamond industry. It highlights the continued potential for major finds in Southern Africa, a region renowned for its rich diamond deposits.
For diamond enthusiasts and investors, this discovery underscores the importance of advanced mining technologies and the ongoing potential for groundbreaking finds in the industry. As Botswana continues to make headlines with its diamond discoveries, the global market will be watching closely to see what comes next.
