Botswana is home to the third-largest diamond in the world, after miners discovered the 73mm long and 27mm thicc rock.
Sitting pretty at 1,098 carats, the Botswana diamond is amongst the largest in the world.
At first place is the 3,106 carat Cullinan stone in South Africa, with second place going to the 1,109 carat Lesedi La Rona carat, also unearthed in Botswana.
The diamond was discovered at the Jwaneng mine and is said to be of the “purest quality“, according to the mine operator, Debswana. The mining company owns four large diamond mines, with the Jwaneng mine being the largest, at 400-metres-deep.
Every year, the mine produces between 12.5 million to 15 million carats of diamonds. However, this mammoth discovery marks a huge milestone for the company, who were yet to unearth such a stone in their entire 50 years of operation.
Debswana is a diamond company that is owned by De Beers Jeweller Group and the state of Botswana. They share equal ownership over the diamond.
Botswana’s government authorities are ecstatic over the latest find, due to the lucrative nature of the diamond industry, which is responsible for 80 per cent of their income through “dividends, royalties and taxes.”
This highly desirable and glorious gem is about the size of a “chicken’s egg“.
Diamonds of similar sizes have been known to sell for millions to major luxury companies, including Louis Vuitton and Graff.
In 2017, the 1,109 carat, Lesedi La Rona, was sold to Graff for $70 million.
Contrastingly, Louis Vuitton opted to air a sense of mystery, refusing to disclose how much they coughed up for their 1,758 carat cutie. However, knowing the brand, we assume it was a lot more than $70 million.
The incredible wealth and revenue that the diamond industry brings to Bostwana alone, has some questioning what is being done with the money and why Africa is not economically on par with some of the worlds wealthiest countries.
Botswana is Africa’s largest diamond producer, with a population of less than 2.5million, relatively stable political environment, relatively homogeneous tribal balances, massive agricultural land, why is it not transforming into a UAE or a Singapore of Africa?
— African (@ali_naka) June 17, 2021
The tweet brings to light other issues regarding corruption and greed privy within South Africa, which may be causing the majority of people in South Africa to feel disillusioned by the find.
The future of the diamond is still up for speculation, as its owners deliberate whether to sell it through the De Beers distributors or the state owned diamond company, Okavango Diamond.
Some people are guessing that the Queen will have her eyes on the diamond, adding it to her extensive collection of jewels and other boujee miscellaneous items.
Botswana be warned she is coming. pic.twitter.com/NQZ2yG2Kb1
— SWEET BLACK (@BlondieThamaga) June 16, 2021