Diamond company Debswana announced the discovery in Botswana of a 1,098-carat stone that it described as the third largest of its kind in the world.
The company’s acting managing director, Lynette Armstrong, presented the stone, which was found on June 1st, to the country’s president, Mokgweetsi Masisi.
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It is the third largest in the world, behind the 3,106 carat Cullinan found in South Africa in 1905 and the 1,109 carat Lesedi La Rona discovered in Botswana in 2015.
Minerals Minister Lefoko Moagi said the discovery of the stone, which has yet to be named but measures 73 by 52 by 27 mm, could not have come at a better time after the Covid-19 pandemic hit diamond sales. in 2020.
Debswana is a joint venture between Anglo American’s De Beers and the Botswana government, which receives up to 80% of sales revenue through dividends, royalties and taxes.
Production in Debswana dropped 29% in 2020 to 16.6 million carats and sales dropped 30% to $2.1 billion as the pandemic affected production and demand.
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