Botswana's Enormous 2,492-Carat Diamond, May Remain Uncut

Lucara Diamond Corp has made headlines with the discovery of an extraordinary 2,492-carat diamond in Botswana, one of the largest ever found. The uncut stone, recovered from the Karowe mine in August, has sparked global interest, with CEO William Lamb suggesting that it may be more valuable in its natural, unpolished state.

In a recent interview on the Rapaport Diamond Podcast, Lamb expressed the company's careful consideration of the diamond’s future. "Due to its significance to Botswana, we need to explore the best path for this exceptional stone. It’s possible that keeping it as a rough diamond could maximize its potential value," he said. The company plans to consult with stakeholders, including the Botswana government and HB Antwerp, to determine the most advantageous course of action.

Lucara has referred to the diamond as a "legacy stone," a term reserved for gems valued over $10 million. The discovery adds to Botswana’s legacy as a leading source of some of the world’s most impressive diamonds.

While there is still much to be evaluated, the option to leave the diamond uncut remains a possibility, drawing parallels to historic diamonds such as the famed 3,106-carat Cullinan Diamond, discovered in South Africa in 1905. As the second-largest gemstone-quality diamond on record, this remarkable find could command significant attention and value in the international market.