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According to a joint venture between Anglo American De Beers and the government, a 1,098 carat diamond was found in Botswana, believed to be the third largest gem-quality diamond ever mined.
The gem was presented to President Mokgweetsi Masisi by Lynette Armstrong, acting managing director of Debswana Diamonds, on Wednesday. It is the third largest diamond in the world, after the 3,106 carats of Cullinan gem discovered in South Africa in 1905 and the 1,109 carats of Lesedi La Rona discovered by Lucara Diamonds in Botswana in 2015.
“This is the largest diamond ever mined by Debswana in its more than 50 years of operation,” Armstrong said.
“Based on our preliminary analysis, it may be the world’s third largest gemstone. We have not yet decided whether to sell it through the De Beers channel or the state-owned Okavango Diamond Company.”
Lefoko Moagi, Minister of Minerals, said that after the COVID-19 pandemic hit diamond sales, the unnamed gem, 73 mm long, 52 mm wide, and 27 mm thick, was discovered at the right time in 2020.
The government derives up to 80% of the revenue from Debswana’s sales through dividends, royalties and taxes.
Debswana’s production fell by 29% in 2020 to 16.6 million carats, while sales fell by 30% to US$2.6 billion, as the pandemic affected production and demand.
In 2021, as the global diamond market recovers with the relaxation of travel restrictions and the reopening of jewelers, Debswana plans to increase production by 38% to reach the pre-pandemic level of 23 million carats.
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