Lucara Diamond Corp discovered the 2,492-carat diamond in Botswana. CEO William Lamb has suggested that it may retain more value if left uncut. He suggested that the stone holds ‘untold potential’ as a piece of rough.
“Because of its significance to Botswana, we need to look at the best route to market for the stone, and you never know — it doesn’t necessarily mean that a stone of [that] size should be cut,” he told the Rapaport Diamond Podcast.
“There’s a long way to go to understand what the ultimate solution for the stone is going to be. We’ll engage the government, we’ll engage HB [Antwerp], we’ll engage others to see what the market generally feels.
He added: “A lot of people think that because we have an agreement with HB [Antwerp],, they are the only people that we speak to. That’s not true.”
The rough was discovered in the Karowe mine on 19 August, and has been described by the company as a ‘legacy stone’ – meaning it is valued at more than $USD10 million.
As previously noted, the Cullinan Diamond, unearthed in South Africa in 1905, is considered the largest gemstone-quality diamond ever recovered at 3,106 carats.
More reading
History made in Botswana with 2,492-carat diamond discovery
Alrosa profit falls as weak market takes a toll
The World's Most Famous Diamonds
Father and son make exceptional diamond discovery
Oversupply issues: De Beers alters sales schedule
Is Mercury’s core packed with diamonds?