Botswana excavated the World’s third biggest Gem-Quality Stone, Anglo American’s De Beers and Administration of Botswana divulged
By Abdul Rahman Bangura–
NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- A 1,098 carat diamond understood to be the third largest gem-quality rock perpetually to be excavated, has been realized in Botswana, according to a joint venture between Anglo American’s De Beers and the administration of Botswana.
The jewel was presented to President Mokgweetsi Masisi on Wednesday June 16th, 2021 by Debswana Diamond Company’s Acting Managing Director, Lynette Armstrong. It is the third-largest in the world, behind the 3,106 carat Cullinan boulder recouped in South Africa in 1905 and the 1,109 carat Lesedi La Rona discovered by Lucara
Diamonds in Botswana in 2015.
“This is the largest diamond to be recovered by Debswana in its history of over 50 years in operation,” Armstrong announced.
“From our preliminary analysis, it could be the world’s third-largest gem-quality stone. We are yet to make a decision on whether to sell it through the De Beers channel or through the state owned Okavango Diamond Company,” Armstrong asserted.
Minerals Minister – Lefoko Moagi stated, the finding of the yet-to-be named stone, which measures 73mm long, 52mm wide and 27mm thick, could not have come at an adequate time after the COVID-19 pandemic hit diamond sales in 2020.
The administration accepts as much as 80% of the revenue from Debswana’s exchanges through earnings, royalties and taxes. Production at Debswana hew 29% in 2020 to 16.6 million carats while sales cut down 30% to $2.1 billion as the pandemic affected both production and demand.
In 2021, Debswana schedules to boost output by as much as 38% to pre-pandemic levels of 23 million carats as the global diamond market recovers with the easing of travel regulations and reopening of jewelers.
For New Africa Business News (NABN) Abdul Rahman Bangura Reports, Africa Correspondent
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