Economic reports from Botswana's government or international financial institutions

Lucara Discovers 2,492-Carat Diamond in Botswana, Second Largest Ever

Aug 23, 2024, 06:13 AM

A massive 2,492-carat diamond, one of the largest ever discovered, has been unearthed at the Karowe Mine in Botswana by Canadian mining company Lucara Diamond Corp. This remarkable find is considered the second-largest gem-quality diamond ever found, following the 3,106-carat Cullinan Diamond discovered in South Africa in 1905. The diamond, which weighs nearly 500 grams, was detected using advanced Mega Diamond Recovery X-ray technology. It is estimated to be worth over $40 million. The discovery has significantly impacted Lucara's stock, which surged by 40% following the announcement. Botswana's President Mokgweetsi Masisi showcased the diamond at a viewing ceremony, highlighting its significance as the largest diamond found in over a century.