A 1,098-carat diamond believed to be the third-largest gem-quality stone ever to be mined, has been discovered in Botswana, a joint venture between diamond company De Beers and the Botswanan government said.
The stone was on Wednesday presented to Botswanan President Mokgweetsi Masisi by Debswana Diamond acting managing director Lynette Armstrong.
It is the third-largest diamond in the world, behind the 3,106-carat Cullinan stone recovered in South Africa in 1905 and the 1,109-carat Lesedi La Rona unearthed by Lucara Diamonds in Botswana in 2015.
Photo: AFP
“This is the largest diamond to be recovered by Debswana in its history of more than 50 years in operation,” Armstrong said.
“Based on our preliminary analysis, it could be the world’s third-largest gem-quality stone,” she said. “We are yet to make a decision on whether to sell it through the De Beers channel or through the state-owned Okavango Diamond Co.”
Botswanan Minister of Mineral Resources, Green Technology and Energy Security Lefoko Moagi said the discovery of the yet-to-be-named stone — which measures 73mm long, 52mm wide and 27mm thick — could not have come at a better time after diamond sales were hit by the COVID-19 pandemic over the past year.
The government receives as much as 80 percent of the income from Debswana’s sales through dividends, royalties and taxes.
Production at Debswana fell 29 percent in the past year to 16.6 million carats, while sales fell 30 percent to US$2.1 billion, as the pandemic affected production and demand.
This year, Debswana plans to increase output by as much as 38 percent to a pre-pandemic level of 23 million carats, as the global diamond market recovers with the easing of travel restrictions and reopening of jewelers.
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