Lucara Diamond discovered a 2,492-carat diamond in Botswana’s Karowe Mine, the second-largest in history. Utilizing X-ray technology, the diamond’s estimated value could exceed USD 40 million. This find emphasizes the mine’s potential, building on previous large diamond discoveries. Botswana remains a key player in global diamond production, relying heavily on this industry for economic stability.
A significant discovery has been made in Botswana, where the second-largest diamond in history, weighing 2,492 carats, was found at the Karowe Diamond Mine, owned by the Canadian firm Lucara Diamond. The largest diamond ever recorded, the Cullinan Diamond, was discovered in South Africa in 1905 and weighed 3,106 carats before being cut and included in the British Crown Jewels.
The diamond was identified utilizing Lucara’s advanced X-ray Transmission (XRT) technology, designed to detect and safeguard large, high-value diamonds. Although Lucara has not disclosed the diamond’s value, sources from the Financial Times suggest it may reach upwards of USD 40 million, reflecting its high-quality characteristics.
William Lamb, President and CEO of Lucara, expressed enthusiasm about the discovery, stating that it underscores the company’s strategic investment in XRT technology. He emphasized that the find highlights the remarkable potential of the Karowe Mine, which has yielded several significant diamonds over recent years.
In a ceremonial event, images were shared showing Botswana’s President Mokgweetsi Masisi alongside the newly discovered diamond, exemplifying the country’s rich diamond-producing legacy. According to Globaldata, Botswana contributed 20 percent of global diamond production last year, which is crucial for its economy, making up 30 percent of its GDP and 80 percent of its exports.
This recent find is not Botswana’s first large diamond discovery; the Karowe Mine previously yielded a 1,758-carat Sewelô diamond in 2019 and a 1,109-carat Lesedi La Rona diamond in 2015. The Sewelô diamond was sold to Louis Vuitton in 2020, while the Lesedi La Rona fetched USD 53 million from Graff Diamonds in 2017, further solidifying Botswana’s position in the diamond mining industry.
This discovery of the 2,492-carat diamond in Botswana highlights the significance of advanced mining technologies like XRT, while reasserting Botswana’s status as a major player in the global diamond market. The economic implications for Botswana are profound, with diamonds being a key contributor to its GDP and exports. Lucara Diamond’s ongoing investment in innovative technology continues to yield impressive results in diamond recovery at their operational sites.
Original Source: www.business-standard.com
