Second-largest diamond discovered by Lucara in Botswana

One of the largest stones to be excavated, a 2,492 carat diamond was found at the Karowe mine in Botswana, according to Lucara Diamond Corp (LUC.TO), a Canadian firm. The company announced the discovery late on Wednesday.

Although Lucara did not disclose the stone’s gem quality, its size would make it the second largest rough diamond ever found—after the 3,106 carat Cullinan Diamond discovered in neighboring South Africa in 1905. It was polished and cut before being added to the British crown jewels.

Big stones are a specialty of the Karowe Mine; notable discoveries include the 1,109 carat Lesedi La Rona diamond and the 1,758 carat Sewelô diamond.

On Thursday, Mokgweetsi Masisi, the president of Botswana, will receive the diamond from the firm. In terms of value, Botswana is the world’s leading producer of diamonds.

Last month, the nation in southern Africa put out a bill requiring mining companies to sell a 24 percent share to local investors after receiving a license, unless the government chooses to purchase the shares.