Biggest Diamond Found In Botswana
Category: Kuwait Local News

A Canadian miner has claimed to have unearthed the biggest diamond found for more than century with the discovery of a 1,111 carat gem-quality stone in Botswana. Lucara Diamond has revealed photographs of the stone, which was mined at its Karowe mine. It measures 65mm x 56mm x 40mm and pictures of the clear-looking gem show it to be the size of a small orange.

“This historic diamond recovery puts Lucara and the Karowe mine among a select number of truly exceptional diamond producers,” said William Lamb, chief executive of Lucara. The largest diamond ever discovered is the Cullinan Diamond which was dug out of a South African mine in 1905. That 3,106 carat gem was cut and is set in Britain’s crown jewels.

Lucara acquired the Karowe mine in 2010, which is touted as one of the leading producers of high-value stones. It also announced finds of two other white diamonds, an 813 carat stone and a 374 carat stone. The company said the weights of the stones are subject to change as they have not yet been cleaned.

“I am truly at a loss for words. This has been an amazing week for Lucara with the recovery of the second largest and also the sixth largest gem quality diamonds ever mined,” Lamb said. Lucara is one of several mid-tier miners that have geared their businesses to increase the chances of finding lucrative large diamonds. Larger miners including Alrosa, of Russia, and De Beers are more focused on volume.

Analysts at Investec said the Lucara find was “a balance sheet changing development” for the company. A rough diamond found by Petra Diamonds, another mid-sized miner, was transformed into a ‘blue’ stone sold at auction this month for a record price above $4m per carat.

But the record auction prices contrast with signs of weakness in other parts of the diamond market, with rough prices under pressure amid excess stocks sitting with traders and diamond polishers. Botswana, a southern African nation covering a large land mass but with a population of just 2m people, is among the world’s top diamond producers. When it gained independence from Britain in 1966 it was one of the world’s poorest countries, but the discovery of diamonds has transformed it into one of the Africa’s richest nations.




20 Nov, 2015 0 862
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