Largest diamond in 100 years unearthed © Lucara Diamond Corp

Largest diamond in 100 years unearthed

It could be many years before the exact value of huge stone, found in a Botswana mine, is known

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23 November 2015

Canadian mining company Lucara Diamond Corp last week unearthed the world’s largest diamond in more than century. The 1,111 carat gem was discovered at the company’s open mine in Botswana. Known as a IIa diamond, the stone is almost completely clear and an almost pure carbon diamond, making its value potentially even higher.

Unsurprisingly, the company’s share price rose by over 35% in one day after the news of the diamond broke; the company is listed in both Toronto and Sweden. However, Lucara’s CEO William Lamb told The Guardian on Thursday it could be a while before the exact value of the gemstone is known. Too large to fit into the company’s own scanner, it will be flown to Antwerp this week for further inspection. It will then require cleaning, weighing and further inspection by a plethora of gemmologists.

1111-Carat-Photo-3Lucara Diamond Corp

The find has only been outdone by the ‘Cullinan diamond’, extracted in South Africa in 1906, weighing 3,106 carats it was cut into 9 pieces, the two largest of which now sit in the sceptre of the British Monarchy’s crown jewels.

This recent discovery is also likely to be split into many pieces, but by whom and for what is yet to be known. It is around the size of a tennis ball and measures 6.5cm by 5.6cm by 4cm. Whoever the buyers are, they need to have deep pockets, Lucara sold a similar stone, weighing 342 carats, in July, for $20,55m and the interest around this stone has already been high.

1111-Carat-Photo-1Lucara Diamond Corp

 On Thursday 19 November, the company again announced the recovery of two more huge stones from the same mine, estimated to be around 800 and 300 carats respectively.