Botswana's President Mokgweetsi Masisi looks at a large diamond discovered in Botswana at his office in Gaborone on August 22, 2024. The 2492 carat diamond was discovered in the Karowe mine in Botswana of Lucara Diamond Company. Botswana is one of the world's largest producers of diamonds, which constitute its main source of income, representing 30% of GDP and 80% of its exports. MONIRUL BHUIYAN/AFP via Getty Images
The world's largest diamond found in over a century has been found in Botswana. As detailed by NPR, it's worth 2,492 carat, weighs approximately one pound and was found at the Karowe Mine by Lucara Diamond Corp., a Canadian mining company.
Botswana's President Mokgweetsi Masisi presented the diamond at a ceremonial event, showcasing it to the world with pride. Overall, the diamond not only surpasses all recent finds but also stands as the second-largest ever discovered, trailing only behind the legendary Cullinan Diamond of 1905.
According to the New York Post, the diamond is currently unnamed and was located using advanced X-ray technology designed to detect large, high-value gems. Lucara Diamond also ntoted that it was discovered within the EM/PK(S) kimberlite ore, a type of rock that the mine will continue to target in future operations.
While it's still too early to assign an exact value, estimates suggest that the diamond could be worth between $100 million and $160 million. For context, a smaller diamond from the same mine sold for $63 million in 2016, setting a record for a rough gem at that time.
The diamond is expected to contain one particularly stunning stone along with several smaller gems. This find outshines previous record-holders from the Karowe Mine, including the Sewelo diamond at 1,758 carats, which was acquired by French fashion house Louis Vuitton.
Besides being found in Botswana, the current discovery also highlight the Canadian mine's ability to discover large diamonds. Industry analysts believe this will forever change the way the diamond market and mining works.
As of now, no decisions have been made regarding the diamond's valuation or sale. Lucara Diamond Corp. has yet to release detailed plans for its future.
Impact on Gem Mining
Interestingly-the Karowe Mine has already been known for finding large diamonds, and this latest discovery could lead to better mining technology and exploration methods. Experts believe this diamond might set new records for how much diamonds are worth and impact how diamonds are mined in the future.
"We are ecstatic about the recovery of this extraordinary 2,492-carat diamond. This find not only showcases the remarkable potential of our Karowe Mine, but also upholds our strategic investment in cutting-edge XRT technology," William Lamb, President and CEO of Lucara Diamond Corp, said.
At the same time, this reinforces Lucara Diamond Corp's reputation as a leading producer of large, exceptional gems. This discovery joins other notable finds from the mine, including the 1,758-carat Sewelo and the 1,109-carat Lesedi La Rona.
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