Could this 2,492-carat diamond from Botswana be worth $160 million? Here’s all you need to know

The largest diamond discovered in more than a century has been unearthed in Botswana, marking a historic discovery. The stunning 2,492 carat diamond was unveiled during a special ceremony presided over by Botswana's president. This stone, which is about the size of a fist and weighs about a pound, has attracted a lot of interest and enthusiasm, as per the reports of the New York Post.

Initial estimates say the diamond may be worth over $40 million, but it is too early to confirm the actual value or complete the sale. The Canadian mining corporation Lucara, which found the diamond at its Karowe Mine, is the source of this information. Some industry insiders, though, think this assessment may be low. Renowned diamond expert Fred Cuellar likened the value of diamonds to that of real estate, where the amount depends on comparable sales in the recent past. Given that a smaller diamond from the same mine sold for $63 million in 2016, Cuellar estimated that the diamond's potential value ranged from $100 million to $160 million.

Comparing this large diamond with other major diamonds

The largest diamond ever found was the Cullinan Diamond, which was discovered in South Africa in 1905 and weighed 3,106 carats. It was valued at $400 million in today's money, and some of its cut gems are part of the British Crown Jewels. The Sewelo diamond, also from the Karowe Mine, was the second-largest diamond ever found before this discovery, weighing 1,758 carats. The French fashion house Louis Vuitton bought this diamond, though the sale amount was not disclosed.


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The newly discovered diamond was first shown to the public at an event held at the Botswana President’s office. President Mokgweetsi Masisi expressed his awe and appreciation upon seeing the diamond. He described the experience as overwhelming and called senior government officials to view the gem as well. The diamond's discovery is notable not just for its size, but also for its method of detection—X-ray technology was used to find this historic gem.

FAQs:

What is the significance of the 2,492-carat diamond found in Botswana?
The 2,492-carat diamond, the largest in over a century, has garnered significant attention for its size and potential value, which experts estimate could reach up to $160 million.

How was the diamond discovered?
The diamond was discovered using X-ray technology at Lucara's Karowe Mine in Botswana, marking a notable advancement in diamond detection methods.