STORY: Here’s the president of Botswana holding what may be the second-largest rough diamond ever discovered.
The stone was discovered in the Karowe mine in Botswana, said Canadian company Lucara Diamond Corp, which presented the gemstone to Mokgweetsi Masisi on Thursday (August 23).
Lucara says it weighs 2,492 carats.
This would make it second in size after the 3,106-carat Cullinan Diamond, discovered in 1905 and now part of the British Crown Jewels.
Masisi used the latest discovery to highlight the importance of mining to the country.
“They mean the world to us in good times and bad. Diamond prices are going through a very tough time right now, but every diamond remains precious and valuable.”
Botswana is the world’s largest producer of diamonds by value.
They contribute 40% of government revenue, 75% of foreign currency earnings and a third of national production.
This is why Botswana’s economy has been disproportionately hit by a drop in demand.
Masisi has previously called synthetic gemstones a threat to the country’s economic vitality.
And its government is seeking to extract more revenue from its resources.
This includes its intention to renegotiate its planned purchase of a stake in Belgian gemstone dealer HB Antwerp, in order to double the size of its holding at no additional cost.
