By John Ikani
A 1,098 carat diamond believed to be the third largest gem-quality stone ever to be mined, has been discovered in Botswana, according to a joint venture between a subsidiary of Anglo American’s De Beers – Debswana Diamond and the government.
The stone was discovered at Jwaneng, the world’s richest mine by value, which is undergoing a US$2 billion expansion.
According to Debswana acting managing director Lynette Armstrong, 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.
The stone was been presented to President Mokgweetsi Masisi on Wednesday by Debswana Diamond Company’s 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, a state-owned trader that also holds the right to buy Debswana stones, Ms 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 spokesperson, Rachel Mothibatsela, said.
Meanwhile, Minerals minister Lefoko Moagi said the discovery of the yet-to-be named stone, which measures 73mm long, 52mm wide and 27mm thick, could not have come at a better time after the COVID-19 pandemic hit diamond sales in 2020.
The government receives as much as 80% of the income from Debswana’s sales through dividends, royalties and taxes.
Production at Debswana fell 29% in 2020 to 16.6 million carats while sales fell 30% to $2.1 billion as the pandemic impacted both production and demand.
In 2021, Debswana plans to increase output by as much as 38% to pre-pandemic levels of 23 million carats as the global diamond market recovers with the easing of travel restrictions and reopening of jewellers.
