PodcastsJan 12, 2026
The latest poscasttest
SourcingMar 22, 2016
1,111-carat diamond found in Botswana
The Type IIa stone is the second-largest gem-quality diamond ever recovered, and the biggest find in more than a century.
Vancouver, B.C.--Lucara Diamond Corp. President and CEO William Lamb knew that it was either very good or very bad news when his phone rang at 1:28 a.m. Monday morning Vancouver time.
Lucara President and CEO William Lamb said the 1,111-carat diamond workers found Monday at the company’s Karowe Mine is “slightly smaller than a tennis ball.”
It turned out to be the former, as he learned that workers at the company’s Karowe Mine in Botswana had recovered a “magnificent” stone: a 1,111-carat Type IIa diamond that goes down in the record books as the second-largest gem-quality diamond ever found.
Only the 3,106-carat Cullinan Diamond, which was discovered in January 1905 at the Premier mine in South Africa and later cleaved by Joseph Asscher, is bigger.
Workers recovered the stone from materials that originated in the mine’s south lobe, an area that has yielded three 300-carat-plus rough diamonds this year, including a 342-carat stone that Lucara sold in July for $20.5 million.
Still, when that call came in Monday, Lamb was “very, very surprised,” he told National Jeweler in an interview Thursday morning.
While he isn’t shocked by the recovery of 300-, 400- or even 500-carat stones from the mine anymore, a 1,000-carat diamond is something differently entirely. “A thousand carats … I think it would be a surprise for anybody,” he said.
The diamond, which measures 65 mm x 56 mm x 40 mm, is too large to fit in any of the rough evaluation machines Lucara has on-site in Botswana and likely will be sent to Antwerp for further evaluation. Lamb, who has not yet seen the stone in person, said what he knows from his employees on the ground in Botswana is that the diamond is a Type IIa and likely is “top color,” meaning D, E or F, and high clarity as well.
He said it is “almost impossible” at this point to estimate a sale price for the stone, or what it could yield in terms of polished diamonds.
Gem Diamonds sold a 603-carat diamond, the “Lesotho Promise,” for $12.4 million in 2006, and Petra Diamonds got $35.3 million for a 507-carat diamond in 2010.
But this diamond is much bigger, Lamb pointed out, and has added historical value as the world’s second-largest diamond behind the Cullinan. It is also the largest diamond ever found in Botswana and the largest ever recovered through a modern processing facility.
Lucara, which accounts for only 0.83 percent of global diamond production but is responsible for a high percentage of the big diamond discoveries these days, found the 1,111-carat stone using its newly installed Large Diamond Recovery (LDR) XRT machines.
The machines scan pre-cleaned material recovered from diamond mines for large chunks of carbon.
The machines scan pre-cleaned material recovered from diamond mines for large chunks of carbon.
Also this week, the Vancouver-based mining company found another incredible diamond, an 813-carater discovered late Tuesday.
Lamb said more information on that diamond will be available next week.
Editors' Picks
Sponsored by
More on Sourcing
The Latest
Weekly QuizOct 03, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
PodcastsJan 12, 2026
Introducing My Next Question, the PodcastA monthly podcast series for jewelry professionals
Brought to you by
Navigating Cybersecurity: Essential Guidance for JewelersFrom protecting customer data to safeguarding inventory records, it's crucial to learn how to tackle cybersecurity challenges.
PodcastsNov 27, 2025
Test Podcast With VideoTest Podcast With Video. New interview with Ada Lovelace.
PodcastsNov 25, 2025
Test New Podcast PostAbstract for tests. New Podcast interview with John Lennon, Jimi Hendrix and Jim Morison.
ColumnistsOct 09, 2024
Peter Smith: 7 Things to Know When Selling LuxuryAhead of the holiday season, Smith delves into the often subconscious reasons people buy luxury products for themselves or their loved ones.
AuctionsOct 09, 2024
Rolex Worn on Apollo 14 Mission Up for SaleThe GMT-Master “Pepsi” belonging to astronaut Edgar Mitchell is a standout in RR Auction’s online “Space Auction,” going on now.
MajorsOct 09, 2024
New Simon Campaign Invites Gen Z to ‘Meet Me At The Mall’The ads celebrate the mall culture of the ‘80s and ‘90s.
MajorsOct 09, 2024
PGI Launches New Virtual Sales TrainingRetail sales associates can access the video series on mobile to refresh their selling skills.
Policies & IssuesOct 09, 2024
GJNRF: Reaching Out, Rebuilding Futures For 25 years, India’s Gem & Jewellery National Relief Foundation has provided aid in the wake of war, natural disasters, and global crises.
AuctionsOct 08, 2024
Sotheby’s Selling Jewelry That Belonged to a Bulgarian TsarThe November auction will feature a collection of jewels owned by Ferdinand I, the first king of modern Bulgaria, and his family.
SurveysOct 08, 2024
What to Know About Online Shopping This Holiday SeasonDeloitte and Adobe Analytics shared their insights on the season, from the retail sales forecast to the role of generative AI.
CollectionsOct 08, 2024
Sylvie Adds New Men’s BandsThe Texas-based jeweler collaborated with luxury clothing brand Uncommon Man on men’s bands designed with European influences.
SourcingOct 07, 2024
Rio Tinto to Offer 76 Diamonds in 2024 Beyond Rare Tender The sales event, in its second year, features a selection of rare diamonds from the miner’s Argyle and Diavik diamond mines.
CollectionsOct 07, 2024
Olympian Kristi Yamaguchi Partners With Heller Jewelers on New CollectionA portion of the proceeds from the “Always Dream” collection will go to Yamaguchi's foundation, supporting early childhood literacy.
SurveysOct 07, 2024
Hill & Co.’s New ‘Business of Jewelry Report’ Is OutThe first in what is slated to be a series of in-depth reports from the consulting company, it focuses on shortening supply chains.
WatchesOct 04, 2024
Watches of Switzerland Clocks Another Acquisition—HodinkeeThe company said Benjamin Clymer will return to his role as head of the watch news website, which will maintain editorial independence.
