Two Giant Diamonds Discovered in Weeks—What It Means for Botswana
Lightning has struck twice with another monumental diamond discovery in Botswana’s Karowe Mine.
The discovery of yet another remarkable diamond at Botswana’s Karowe Mine—a staggering 1,094-carat gem-quality rough diamond—reaffirms the nation’s position as a leader in the world of natural diamonds. This newly recovered gem comes hot on the heels of the announcement of a 2,492-carat rough diamond just weeks ago, a discovery that stunned the world. Finding not one, but two diamonds of this magnitude in such a short time is nothing short of extraordinary. In the nearly 4,000 years of diamond recovery history, fewer than ten gem-quality diamonds over 1,000 carats have ever been found.
Lucara Diamond Corp, which operates the Karowe Mine, has built a reputation for uncovering some of the world’s largest and most significant diamonds. In fact, out of the top 10 largest diamonds ever discovered, seven have come from the Karowe Mine, a testament to its exceptional geology and the company’s expertise. This newly found 1,094-carat stone is the sixth diamond over 1,000 carats recovered by Lucara, continuing its track record as the leading producer of these extremely rare, high-value natural wonders.
Beyond these stones’ sheer size and splendor, the significance of such discoveries for the people of Botswana cannot be overstated. As the world’s largest producer of diamonds by value, Botswana’s economy is deeply intertwined with natural diamond production. Botswana’s natural diamond industry accounts for most of the country’s GDP, enabling the nation to have the highest GDP per capita in continental Africa. Thanks to the revenue generated from diamonds, Botswana can offer free education to its children, provide healthcare, and fund critical infrastructure and small businesses—all of which improve the quality of life for millions of its citizens.
Finding not one, but two diamonds of this magnitude in such a short time is nothing short of extraordinary.
The partnership between Lucara and HB Antwerp will continue with this latest discovery, as the 1,094-carat stone is set to be polished by the Belgian diamond house, much like its predecessors. This collaboration has yielded exceptional results, with polished diamonds from similar discoveries fetching millions of dollars at auction. The 692-carat diamond, discovered in August 2023, was also polished by HB Antwerp, and its polished stones sold for an astonishing $13 million.
Lucara’s ongoing underground expansion project at Karowe aims to extend the life of the mine well beyond 2040, ensuring that Botswana’s diamond industry continues to thrive for decades to come. This continued success ensures that the benefits of natural diamond production—such as economic growth, infrastructure development, and social programs—will continue to support the nation’s development.
The rarity of such discoveries is almost beyond comprehension. In the entire history of diamond recovery, fewer than 30 diamonds over 500 carats have ever been unearthed, with the discovery of stones over 1,000 carats being exponentially more extraordinary. Each new find of this magnitude is a monumental event that reshapes the history of natural diamonds and their role in the world. For the people of Botswana, these diamonds are not just stunning geological wonders, they fuel a thriving nation. These remarkable diamonds are a source of national pride and a reminder of the transformative power of natural resources when recovered responsibly.
