Botswana Mining Review Comprehensive Coverage of the Progress and Achievements in the Mining Sector
Related Articles
In a stunning discovery that has captured the world’s attention, Lucara Diamond Corporation has unearthed the second-largest diamond ever found – a colossal 2,492-carat gem from its Karowe mine in northeastern Botswana. This monumental find, which surpasses all diamonds discovered in the 21st century, has reignited interest in the country’s mining industry and sparked debates about the future of the diamond market.
The Karowe mine, 100% owned by Lucara, has been a significant contributor to Botswana’s economy since it began operations in 2012. However, the recent discovery of this extraordinary diamond marks a new milestone for the country. “It’s a fantastically significant stone for Botswana,” Lucara Diamond CEO William Lamb told The Africa Report. “The industry needs the exposure. It couldn’t be better timed.”
The diamond, which is estimated to account for 0.3% to 0.4% of global diamond production, was discovered using advanced X-ray technology developed in partnership with TOMRA. “It’s a testament to the expertise and innovation of our team,” Lamb said. “This find highlights the potential of Botswana’s mining sector and the continued value of natural diamonds.”
The discovery comes at a crucial time for the diamond industry, which has been facing challenges such as the rise of laboratory-grown diamonds. These synthetic stones, while visually indistinguishable from natural diamonds, pose a significant threat to the market. “Lab diamonds quickly depreciate, while natural stones hold their value,” Lamb explained. “Larger natural stones can serve as an ‘insurance policy’ against the fluctuations of the market.”
Botswana, a country that has effectively marketed itself as a tourist destination, has the potential to capitalize on this discovery to attract new foreign investment into its mining sector. “A publicity campaign to promote Botswana as a mining jurisdiction could help to arrest the decline in diamond sales,” Lamb suggested.
The Karowe mine, which is estimated to have between 12 and 15 years of resources remaining, has a history of producing exceptional diamonds. In 2015, the mine unearthed the Lesedi La Rona, the second-largest diamond ever discovered at the time. This latest find further solidifies Botswana’s position as a global leader in diamond production.
As discussions continue between Lucara and the Botswana government regarding the future of the diamond, there is a growing sense of excitement and anticipation. The possibility of this extraordinary gem being put on public display would undoubtedly attract visitors from around the world, showcasing Botswana’s rich natural resources and its commitment to sustainable mining practices.
