World's Third Largest Diamond Unearthed In Botswana.

World's Third Largest Diamond Unearthed In Botswana

A 1,098-carat diamond, discovered in Botswana.

Gaborone:

A 1,098-carat diamond believed to be the third-largest gem-quality stone ever to be mined has been discovered in Botswana, according to a joint venture between Anglo American's De Beers and the government.

The stone was presented to President Mokgweetsi Masisi on Wednesday by Debswana Diamond Company's acting managing director Lynette Armstrong. It is the third-largest in the world, behind the 3,106 carat Cullinan stone recovered in South Africa in 1905 and the 1,109 carat Lesedi La Rona unearthed by Lucara Diamonds in Botswana in 2015.

"This is the largest diamond to be recovered by Debswana in its history of over 50 years in operation," Armstrong said.

"From our preliminary analysis, it could be the world's third-largest gem-quality stone. We are yet to make a decision on whether to sell it through the De Beers channel or through the state-owned Okavango Diamond Company," Armstrong said.

Minerals minister Lefoko Moagi said the discovery of the yet-to-be-named stone, which measures 73mm long, 52mm wide, and 27mm thick, could not have come at a better time after the COVID-19 pandemic hit diamond sales in 2020.

The government receives as much as 80% of the income from Debswana's sales through dividends, royalties, and taxes.

Production at Debswana fell 29% in 2020 to 16.6 million carats while sales fell 30% to $2.1 billion as the pandemic impacted both production and demand.

In 2021, Debswana plans to increase output by as much as 38% to pre-pandemic levels of 23 million carats as the global diamond market recovers with the easing of travel restrictions and reopening of jewellers.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

NDTV News

NDTV.com provides latest news from India and the world. Get today’s news headlines from Business, Technology, Bollywood, Cricket, videos, photos, live news coverage and exclusive breaking news from India.

https://www.ndtv.com/

Related news
COVID-19 pandemic leads to major backsliding on childhood vaccinations - COVID-19 Special.

COVID-19 pandemic leads to major backsliding on childhood vaccinations - COVID-19 Special.

As hospitals around the world buckled under the weight of the COVID-19 pandemic, 23 million children missed out on routine vaccinations in 2020 - putting them at risk from devastating but preventable diseases like Measles, Polio and Meningitis. Th...

Boris Johnson has umbrella trouble at the National Memorial Arboretum.

Boris Johnson has umbrella trouble at the National Memorial Arboretum.

The Sun newspaper brings you the latest breaking news videos and explainers from the UK and around the world Become a Sun Subscriber and hit the bell to be the first to know Read The Sun: Like The Sun on Facebook: Follow The Sun on Twitter: Subscr...

'Demoralizing' to require masks for vaccinated people: Teacher.

'Demoralizing' to require masks for vaccinated people: Teacher.

Fox News medical contributor Dr. Marc Siegel explains why masking should never be 'mandated.' Neala Hadley, a mother of three, and high school teacher Jeremy Adams also discuss the new CDC guidance. Subscribe to Fox News! Watch more Fox News Video...

Housing advocates fear lifting federal eviction ban could lead to COVID-19 surge.

Housing advocates fear lifting federal eviction ban could lead to COVID-19 surge.

Millions of Americans could face homelessness as a federal eviction moratorium comes to an end this week. Housing advocates are raising concerns over a surge in evictions, saying it could trigger another wave of COVID-19 as the Delta variant fuels...

Live: Nancy Pelosi Holds Press Conference - NBC News.

Live: Nancy Pelosi Holds Press Conference - NBC News.

Watch live coverage as House Speaker Nancy Pelosi holds her weekly press conference. » Subscribe to NBC News: » Watch more NBC video: NBC News Digital is a collection of innovative and powerful news brands that deliver compelling, diverse and enga...

WorldView: Obama joins NBA Africa as strategic partner, Greece deals with wildfires.

WorldView: Obama joins NBA Africa as strategic partner, Greece deals with wildfires.

In India, at least 18 people are dead and dozens are injured after a truck crashed into a bus that had broken down, reportedly because it was carrying twice its capacity. In Greece, firefighters contained a wildfire just north of Athens that destr...