2,492-carat diamond, one of the world's largest, discovered in Botswana

Lucara Diamond Corp. has announced the discovery of a 2,492-carat diamond at its Karowe mine in Botswana. This gem, one of the largest ever found, was identified using the company's Mega Diamond Recovery (MDR) X-ray Transmission (XRT) technology. The quality of the diamond is still being evaluated, but it is already noted as a significant find in the diamond mining industry.

Technology and Previous Discoveries
The diamond was discovered with the help of X-ray technology installed at the Karowe mine to detect valuable stones in the primary ore body. This discovery follows other major finds at the same mine, including the 1,758-carat Sewelo and the 1,109-carat Lesedi La Rona. Lucara’s advanced technology has played a crucial role in identifying and recovering such large stones intact.


Industry Context and Challenges
This new discovery comes at a time when diamond prices are experiencing a decline, reaching their lowest in four years, according to the Diamond Standard Index. The diamond market, which saw increased spending during the pandemic, now faces weaker demand, oversupply issues, and competition from synthetic diamonds. Despite these challenges, the find at Karowe highlights ongoing opportunities within the diamond sector.

Statements from Lucara’s Leadership
William Lamb, President and CEO of Lucara Diamond Corp., expressed enthusiasm about the discovery. “We are ecstatic about the recovery of this extraordinary 2,492-carat diamond,” he said. Lamb further emphasized the importance of the find, noting that it demonstrates the effectiveness of the company’s diamond recovery approach and showcases the potential of the Karowe Mine.

Economic Impact and Future Prospects
Botswana’s diamond industry is a vital component of the country’s economy, contributing significantly to funding for education and healthcare. The recent discovery at Karowe not only boosts the mine’s reputation but also reinforces Botswana’s position in the global diamond market.