Lucara finds second biggest diamond yet in Botswana

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Lucara finds second biggest diamond yet in Botswana

STORY: This is Botswana’s president holding what could be the second-largest rough diamond ever discovered.

It was found at the Karowe mine in Botswana, says Canada’s Lucara Diamond Corp, which presented the gem to Mokgweetsi Masisi on Thursday (August 23).

Lucara say it weighs 2,492 carats.

That would make it second in size only to the 3,106-carat Cullinan Diamond – found in 1905 and now part of the British crown jewels.

Masisi used the occasion of the latest discovery to emphasize the importance of mining for the country.

“They mean everything to us in the good times and the bad times. Diamond prices are going through a very difficult time right now but yet every diamond ******** precious and valuable.”

Botswana is the world’s biggest diamond producer by value.

They contribute up to 40% of government revenue, 75% of its foreign exchange earnings and a third of national output.

And that’s why Botswana’s economy has been disproportionately hit by a drop in demand.

Masisi has previously called synthetic gems a threat to the economic lifeblood of the country.

And his government has been seeking to get more revenues from its resources.

That includes its intention to renegotiate its proposed purchase of a stake in Belgian gem dealer HB Antwerp, to double the size of its shareholding without extra cost.

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