World’s third largest diamond is discovered: 1,098-carat, three-inch gem is found in Botswana 

The world’s third largest diamond – a 1,098-carat, three-inch gem – has been found in Botswana by local firm Debswana.  

The stone, found on June 1, was presented to President Mokgweetsi Masisi in the capital Gaborone on Wednesday by Debswana Diamond Company’s acting managing director Lynette Armstrong. 

The gem, found in Jwaneng, the world’s richest mine, will be valued in the next few weeks. 

‘It is believed to be the third largest gem-quality find in the world,’ Armstrong said.

The ‘rare and extraordinary stone… means so much in the context of diamonds and Botswana,’ she said. ‘It brings hope to the nation that is struggling.’  

It is the third largest in the world. The biggest diamond ever discovered in the world was the 3,106-carat Cullinan, found in South Africa in 1905.  

The world’s third largest diamond – a 1,098-carat, three-inch gem – has been found in Botswana

The large gem was presented to Botswana President Mokgweetsi Masisi by Debswana Diamond Company on Wednesday 

The 1905 find was named after the mine’s founder, Thomas Cullinan, and was eventually bought by the Transvaal Colony government and presented to the then King of England, Edward VII. 

The second largest was 1,109-carat Lesedi La Rona – a diamond the size of a tennis ball, discovered at Karowe, northeastern Botswana, in 2015. 

The latest find is the biggest stone of gem quality to be recovered in the 50-year history of the company, a joint venture between the government and global diamond giant De Beers, Armstrong said. 

‘From our preliminary analysis it could be the world’s third largest gem quality stone’, Armstrong added. 

‘We are yet to make a decision on whether to sell it through the De Beers channel or through the state owned Okavango Diamond Company.’ 

A Debswana spokesperson said the company would sell the diamond in a way that ‘ensures it returns maximum benefit for the people of Botswana’ 

President Masisi was joined by Botswana First Lady Neo Masisi (pictured) as he saw the gem for the first time

Minerals minister Lefoko Moagi said the discovery of the yet-to-be named stone could not have come at a better time after the COVID-19 pandemic hit diamond sales in 2020

The diamond measures 73mm long, 52mm wide and 27mm thick.

Minerals minister Lefoko Moagi said the discovery of the yet-to-be named stone, 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 per cent of the income from Debswana’s sales through dividends, royalties and taxes.

Production at Debswana fell 29 per cent in 2020 to 16.6 million carats, down from 23.3 million in 2019. 

Sales fell 30 per cent to $2.1 billion as the pandemic impacted both production and demand.

In 2021, Debswana plans to increase output by as much as 38 per cent to pre-pandemic levels of 23 million carats as the global diamond market recovers with the easing of travel restrictions and reopening of jewelers.

Botswana is Africa’s leading diamond producer.

The rare commodity accounts for 90 per cent exports. 

The latest major discovery in Botswana is this massive diamond, which is yet to be named, measuring 73mm long, 52mm wide and 27mm thick

Debswana Diamond Company, which discovered the gem, has not ye decided how to sell the lucrative find

The stone is the largest gem found by the Debswana Diamond Company since it started operating 50 years ago

The world’s biggest diamonds and where they are now:

 1. Cullinan

The largest diamond ever found is the 3,106-carat Cullinan. It was found in South Africa in 1905.  

It was bought by the Transvaal Colony government 1907 and then presented to King Edward VII.

The largest gem-quality rough diamond ever found, weighing 3,106.75 carats, the Cullinan (pictured left) was unearthed from a mine in South Africa in the January of 1905

He had the stone cut into 105 diamonds including a 530-carat clear cut diamond that is mounted on the Sovereign’s Sceptre with Cross. 

The rest of the gems remain part of the Crown jewels or Queen Elizabeth’s private collection.  

2. Lesedi La Rona 

The second largest diamond ever found is 1,109-carat Lesedi La Rona.

The tennis-ball sized gem was discovered at Karowe, northeastern Botswana, in 2015. It was sold to British jeweller Graff for £40 million in 2017. 

The rough diamond had previously failed to meet its reserve price of more than $70 million at a Sotheby’s auction in 2016. Bidding stalled at $61 million and it was withdrawn from public view. 

In April 2019, Graff had the stone cut into one 302-carat emerald cut diamond and 66 smaller gems. 

The largest stone, named the Graff Lesedi La Rona, is still owned by Graff. 

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