Remarkable discovery! 2,492-carat diamond, world's 2nd largest, found in Botswana mine (WATCH)

First Published Aug 22, 2024, 5:36 PM IST | Last Updated Aug 22, 2024, 5:36 PM IST

Lucara Diamond Corp. has announced the discovery of a monumental 2,492-carat diamond at its Karowe mine in Botswana, marking one of the largest gem finds in history. The diamond was unearthed using the company's state-of-the-art Mega Diamond Recovery (MDR) X-ray Transmission (XRT) technology, which is designed to identify and recover valuable stones from the primary ore body.

The 2,492-carat diamond discovered at Karowe mine is the largest find since the 3,106-carat Cullinan diamond unearthed in South Africa in 1905, which was cut into nine separate stones, many of which are now part of the British Crown Jewels. This latest gem, found approximately 500 km (300 miles) north of Botswana's capital, Gaborone, has been confirmed by Botswana's government as the largest diamond ever discovered in the southern African nation.

The quality of this newly discovered diamond is still under evaluation, but its sheer size already positions it as a significant find in the diamond mining industry. This discovery follows other notable finds at the Karowe mine, including the 1,758-carat Sewelo and the 1,109-carat Lesedi La Rona. Lucara's innovative technology has proven instrumental in identifying and preserving these exceptional gems intact.

The timing of the discovery is particularly noteworthy given the current downturn in the diamond market. According to the Diamond Standard Index, diamond prices have hit a four-year low due to weakened demand, oversupply, and increased competition from synthetic diamonds. Despite these challenges, the Karowe mine’s latest discovery underscores the enduring potential within the diamond sector.

William Lamb, President and CEO of Lucara Diamond Corp., expressed his excitement about the find, stating, “We are ecstatic about the recovery of this extraordinary 2,492-carat diamond. This discovery not only highlights the effectiveness of our recovery technology but also underscores the immense potential of the Karowe Mine.”

Botswana’s diamond industry plays a crucial role in the nation's economy, funding key sectors such as education and healthcare. The new find at Karowe enhances the mine's reputation and strengthens Botswana’s standing in the global diamond market.

As the industry navigates through a period of fluctuating prices and market challenges, Lucara Diamond Corp.'s latest discovery offers a beacon of hope and reinforces the significance of technological advancements in diamond mining.

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