Third largest diamond found in Botswana and diamond is always fascinating the people. Diamond is the famous gemstone that is why everybody knows about this. Third largest diamond found in Botswana and it has huge market value. Diamond is precious gemstone and it is a demanded gemstone in entire world.
According to a joint venture between Anglo American De Beers and the government. The 1,098-carat diamond is considered the third largest gem-quality stone ever mined in Botswana. According to the size it is estimated the third largest diamond in world.
Debswana Diamond Company Acting Managing Director Lynette Armstrong presented the stone to President Mokgweetsi Masisi on Wednesday. It is the third largest in the world after the 3106-carat Cullinan stone discovered in South Africa in 1905. However, 1109-carat Lesedi La Rona stone discovered by Lucara Diamonds in Botswana in 2015.
“This is the largest diamond Debswana has mined in its more than 50-year history of operations,” said Armstrong. “Our preliminary analysis suggests it could be the third largest stone in the world for gem quality. So, because of huge size it has good market value and there are numbers of customers who want to buy this gemstone.
We have yet to decide whether to sell it through De Beers or the state-owned Okavango diamond company,” Armstrong said.
” Minerals Minister Lefoko Moagi said the discovery of an as-yet-unnamed 73mm long, 52mm wide and 27mm thick stone came out best in 2020, when the Covid-19 pandemic hit diamond sales.
The government receives 80% of the proceeds from the sale of Debswana in the form of dividends, royalties and taxes. Production at Debswana fell 29% to 16.6 million carats in 2020, and sales fell 30% to $ 2.1 billion as the pandemic hit both production and demand.
Debswana plans to increase production by 38% in 2021 to a pre-pandemic level of 23 million carats, as the global diamond market recovers from easing travel restrictions and opening jewelry stores.