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It’s been more than a century since the largest diamond ever discovered was unearthed in Africa, but another massive gem managed to give it a run for its money after it was dug up in Botswana earlier this week.
Anyone who’s seen Blood Diamond or is simply aware of the controversy surrounding the mining industry’s questionable track record in Africa knows about the true cost of those pricey precious stones, but many countries on the continent that produces 65% of the world’s supply nonetheless rely on the practice for their economic health.
That includes Botswana, which is second only to Russia when it comes to countries that mine the most diamonds annually and has a heavy reliance on the gems that are responsible for 80% of its exports and comprise 25% of its GDP.
The crown jewel of Botswana is the Karowe Mine, which had been the source of four diamonds that have weighed in over 1,000 carats in the past decade alone, including one that was discovered in 2019 and set the record for the second-largest in history at 1,758 carats.
According to Reuters, that number rose to five this week when another diamond surpassed that mark in the form of the 2,492-carat stone that was unearthed by the Lucara Diamond Corp, a Canada-based mining company that saw its stock rise by close to 90% after announcing the discovery on Wednesday before giving the president of Botswana the chance to show it off at a press conference.
The largest diamond in more than a century, weighing 2,492 carats, has been unearthed at a mine in Botswana. The country's president showcased the fist-sized stone to the world at a viewing ceremony. pic.twitter.com/H7hPIlNSXE
— The Associated Press (@AP) August 23, 2024
The company didn’t announce the clarity of the diamond, so there’s no way to know how much it will ultimately be worth.
With that said, the largest diamond ever discovered (the Cullinan Diamond—a.k.a the “Star of Africa”—which was unearthed in South Africa in 1905) weighed in at 3,106 carats before being cut into nine polished segments with an estimated worth of $400 million (all of which are currently part of The Crown Jewels under the trust of the British royal family).