World’s Second-Largest Diamond Discovered in Botswana

A nearly tennis-ball-size gem discovered in Botswana is the second-largest diamond ever unearthed.

The 1,111-carat gem-quality diamond was found at the Karowe Mine in Botswana, said Lucara Diamond. , the Vancouver-based company that owns and operates the mine. It was among a cache of huge white diamonds discovered at Karowe, including a a 374-carat gem and an 813-carat stone the company said was the sixth-largest ever found. One carat is equivalent to one-fifth of a gram.

“I am truly at a loss for words,” said Lucara Chief Executive William Lamb. “We are truly blessed by this amazing asset.”

Lucara’s shares were up 28% in Toronto after the discovery of the 1,111-carat stone, whose value could run into the tens of millions of dollars.

The largest diamond ever discovered was a 3,106-carat Cullinan stone found in South Africa in 1905. The stone was cut into several large polished gems, including the Great Star of Africa and the Lesser Star of Africa, both of which are housed in Britain’s crown jewels.