The Lucara Diamond Firm had a stroke of good luck when its Karowe mine in Botswana discovered the world’s second largest diamond ever. The diamond is a massive 1,111-carats and is second to the 3,106-carats Cullinan diamond that was found in South Africa over a century ago. It has since been cut into many different stones, including the Great Star of Africa gem for the British royalty’s crown jewels.
A recent Lucara 341.9-carat diamond sold for $20.6 million, around $60,000 per carat. The newly found mammoth diamond measures at 65mm x 56mm x 40mm and rates as a Type-IIa stone and is about the size of a tennis ball. Following the discovery, the 1,111 karat diamond was examined, cut and polished. The diamond was too big to fit the Lucara in-house scanner and a third party scanner was needed. Within the same week, Lucara’s luck kept growing. An 813-carat and white 374-carat diamond were also found at the mine. Lucara’s stock price also rose 32% the same week, adding a total of $150 million to its market value.
The 813-carat diamond, named The Constellation, sold for a record breaking $63 million on May 9th. It was purchased by Dubai-based Nemesis International, a rough diamond trading company. The future of the 1,111-carat diamond will soon be known as well. The diamond, recently named the Lesedi la Rona will go on auction at Sotheby’s London on June 29th next month. Bloomberg estimates the diamond will sell for around $86 million.