By Barbra Nakiwala
In a historic find, Lucara Diamond, a Canadian mining company, has uncovered a colossal 2,492-carat diamond at Botswana’s Karowe mine, the largest gem unearthed in the country and the biggest worldwide since the 1905 Cullinan diamond discovery.
This extraordinary discovery is set to not only enhance Botswana’s position as a global diamond leader but also trigger significant economic and policy reforms as the government seeks to ensure that the nation’s wealth benefits its people.
Lucara Diamond has unearthed a massive 2,492-carat diamond at its Karowe mine, located approximately 500 kilometers north of Botswana’s capital, Gaborone.
This remarkable gemstone is the largest ever found in Botswana, surpassing the previous record held by a 1,758-carat stone discovered at the same mine in 2019. It is also the most significant discovery of its kind since the historic 3,106-carat Cullinan diamond was found in South Africa in 1905.
The Botswana government has heralded this discovery as a monumental milestone for the country, which is already one of the world’s leading diamond producers. With this newfound wealth, the government is keen on ensuring that the benefits extend well beyond foreign investors, signaling the beginning of crucial economic and policy shifts.
In a move to secure greater national benefit, the government is exploring a series of measures, including negotiating ownership stakes in mining operations, establishing royalty agreements to ensure fair revenue sharing, and enforcing stringent environmental regulations. Additionally, companies like Lucara Diamond will be required to invest significantly in local employment, training programs, and community development initiatives, thereby boosting the country’s socio-economic fabric.
Lucara Diamond has responded positively to the government’s initiatives, viewing them as steps toward sustainable and inclusive growth. The company, which has been instrumental in discovering some of the largest diamonds in history, sees this collaboration as an opportunity to contribute to Botswana’s long-term development.
This discovery is not just a testament to Botswana’s rich natural resources but also to the country’s potential to set new standards in responsible resource management. As the government implements its new policies, Botswana could emerge as a model for other African nations in balancing economic growth with the equitable distribution of natural wealth.
With industry experts keeping a close watch, Botswana’s latest diamond discovery is more than just a geological triumph; it represents a significant moment of transformation for the nation’s economy and its people.
