Botswana President Mokgweetsi Masisi with the third largest discovered diamond
A 1,098-carat diamond has been unearthed in Botswana, the Botswana government announced.
The diamond, believed to be the third largest “gem-quality” diamond ever unearthed, was discovered earlier in June. It was presented to President Mokgweetsi Masisi on Wednesday by Debswana Diamond Company’s acting managing director Lynette Armstrong.
“This is the largest diamond to be recovered by Debswana in its history of over 50 years in operation. From our preliminary analysis it could be the world’s third largest gem quality stone.”
“We are yet to make a decision on whether to sell it through the De Beers channel or through the state-owned Okavango Diamond Company,” Armstrong said at the presentation.
Debswana, a diamond company, owned by both the Botswana government and De Beers Group made the discovery at the Jwaneng mine, around 75 miles from the country’s capital, Gaborone.
The Jwaneng mine produces between 12.5 million and 15 million carats of diamonds per year, according to Debswana.
Botswana’s minerals minister Lefoko Moagi said that the yet-to-be named diamond which measures 73mm long, 52mm wide and 27mm thick, was discovered at a perfect time as the COVID-19 pandemic had forced diamond sales to decline.
The Botswana government wrote on its official account that “proceeds from the diamond will be used to advance national development in the country.”
“Debswana should use this latest discovery as an inflection point, for the mine to use its technology to realize more of these large discoveries,” it added.
At present, the 3,106-carat Cullinan Diamond, found in South Africa in 1905 is the largest diamond ever unearthed. It was however cut into smaller stones and some of it form part of the British royal family’s crown jewels.
Trailing the Cullinan Diamond in second place is the Lesedi La Rona, a 1,109-carat stone found by Canadian firm Lucara Diamond at the Karowe mine, also in Botswana, in 2015. The diamond was sold to luxury jeweler Graff for $53 million two years later.
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