World’s third biggest diamond discovered in Botswana

0
471
World's third largest diamond unearthed in Botswana

Revealed: The Secrets our Clients Used to Earn $3 Billion

A 1,098 carat diamond thought to be the 3rd biggest gem-quality stone ever to be mined has actually been found in Botswana, according to a joint endeavor in between Anglo American’s De Beers and the federal government.

The stone existed to President Mokgweetsi Masisi on Wednesday by Debswana Diamond Company’s acting handling director Lynette Armstrong. It is the 3rd biggest on the planet, behind the 3,106 carat Cullinan stone recuperated in South Africa in 1905 and the 1,109 carat Lesedi La Rona discovered 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 stated.

“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 stated.

Minerals minister Lefoko Moagi stated the discovery of the yet-to-be called stone might not have actually come at a much better time after the Covid-19 pandemic hit diamond sales in 2020.

The stone steps 73mm long, 52mm large and 27mm thick.Monirul Bhuiyan / AFP – Getty Images

The federal government gets as much as 80 percent of the earnings from Debswana’s sales through dividends, royalties and taxes.

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

In 2021, Debswana prepares to increase output by as much as 38 percent to pre-pandemic levels of 23 million carats as the international diamond market recuperates with the easing of travel constraints and resuming of jewelry experts.