“This Is History”: Botswana Govt Shares Photo, Details of World’s Second-Largest Diamond Ever Found

• A Canadian company has discovered the world’s second-largest diamond ever in history in Botswana
• The Botswana government stated that this is the largest gem-quality diamond discovery in over a century
• It is expected that the discovery will be a big boost to Botswana’s economy as mining contributes about a quarter of its GDP

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

Botswana has unveiled the world’s second-largest diamond ever discovered, a colossal 2,492-carat gem that promises to rejuvenate interest in natural diamond mining.

Mokgweetsi Masisi, Botswana’s president, announced the discovery in a press conference on Thursday, August 22, 2024.

While holding up the diamond, he said Vancouver-based mining company Lucara discovered its Karowe mine in northeastern Botswana.

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He revealed that the diamond is the largest gemstone unearthed in over a century.

Commenting on the discovery, Aseem Lahri, Botswana managing director for Lucara Diamond Corp, said:

“This is history in the making. I am very proud. It is a product of Botswana.”

The rough diamond, weighing over a pound and a half, is large enough to fit comfortably in an adult’s palm.

However, its true value remains undetermined and could take months of evaluation to establish.

In an official statement, Lucara described the discovery as an “exceptional, high-quality” stone, noting that it was discovered using X-ray technology to locate large, high-value diamonds.

How the diamond was formed - expert

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New York Times reports that the discovery is due to a rare alignment of geological conditions linked to volcanic activity, which created the perfect environment for such a gem to form.

FG increases mining permit cost in Nigeria

Meanwhile, Legit.ng reported that the federal government has increased the price of mining permits and royalties.

Dele Alake, the minister of solid minerals development, stated that the pricing regime comprises 268 elements.

According to him, investors must pay N5 million for a license to refine gold to obtain a mineral processor.

Proofreading by James, Ojo Adakole, journalist and copy editor at Legit.ng.

Source: Legit.ng