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Home Diamond

De Beers’ recent diamond find in Botswana could be third-biggest ever

Staff by Staff
June 17, 2021
in Africa, Botswana, Diamond, Mining, Natural Resources
Reading Time: 1 min read
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Debswana Diamond Co., a unit of De Beers Plc, unearthed a 1,098 carat stone in Botswana on June 1, the largest since the company began operations five decades ago.

Preliminary analysis suggests the stone is the world’s third-largest gem-quality diamond ever after the Cullinan Diamond that was discovered in South Africa in 1905 and the Lesedi la Rona that was found in Botswana in 2015, according to Debswana acting Managing Director Lynette Armstrong.

Valuation by the Diamond Trading Co. Botswana is due in a few weeks and at this point, Debswana can’t say whether the rock will be sold by De Beers or through the Okavango Diamond Co., a state-owned trader that also holds the right to buy Debswana stones, Armstrong said.

“Debswana will work with the government of the Republic of Botswana and De Beers to value and sell the diamond to ensure it returns maximum benefit for the people of Botswana,” the company’s spokeswoman, Rachel Mothibatsela, said.

Also read: Botswana Lucara ‘bounces back’ in Q1 on healthier diamond market

The stone was discovered at Jwaneng, the world’s richest mine by value, which is undergoing a $2 billion expansion.

Botswana has discovered the world's third largest diamond: The 1,098 carat @diamond is behind the 3,106 carat cullinan stone unearthed in @SouthAfrica in 1905, and the 1,109 carat Lesedi La Rona unearthed in @Botswana in 2015. pic.twitter.com/Pw4nG7OHiX

— Mark-Anthony Johnson (@m_ajohnson) June 16, 2021

Debswana is a 50/50 partnership between Botswana and De Beers to mine the gems in the southwestern African nation. Last year, the company produced 16.6 million carats, compared with 23.3 million carats in 2019.

Botswana accounts for more than two-thirds of De Beers’ output, while the country relies on diamonds for 90% of its exports. Last year, the nation’s total rough diamond sales fell 30% to $2.1 billion as mines suspended production due to the coronavirus pandemic.

Related

Via: Bloomberg
Tags: BotswanaDe BeersDe Beers' recent diamond find in Botswana could be third-biggest everDebswanaDebswana Diamond Co.Debswana Mining Companymineral resourcesMiningNatural Resourcesботсванаبوتسواناボツワナ博茨瓦纳
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