World’s third-largest diamond discovered in Botswana

A unit of De Beers unearthed one of the world’s largest diamonds in Botswana earlier this month.

The 1,098-carat diamond is believed to be the third-largest gem-quality stone ever mined. It’s worth a jaw-dropping $100+ million. 80% of the income through sales will be passed on to the state to “be used to advanced national development in the country,” according to the Botswana Government.

President Mokgweetsi Masisi revealed the palm-sized stone to the public on Wednesday.

This afternoon Botswana's president announced that they discovered the 3rd biggest diamond in the world. pic.twitter.com/jrqeBggIiW
— Kasi Economy Group (@KasiEconomy) June 16, 2021

The government receives as much as 80% of the income from Debswana's sales through dividends, royalties and taxes.

Production at Debswana fell 29% in 2020 to 16.6 million carats while sales fell 30% to $2.1 billion as the pandemic impacted both production and demand pic.twitter.com/bK4JwUDG8c
— Reuters (@Reuters) June 17, 2021

The world’s largest stone remains the 3,106 carat Cullinan stone discovered in South Africa in 1905. It was cut and placed into the British Crown Jewels where it remains to this day.