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by Charles Ayitey, at 10:30 am, May 10, 2016, Money Moves

Botswana’s Giant Diamond Goes For $63 million

(Photo: www.theguardian.com)

A massive 813-carat diamond from a mine in Botswana has been sold for a record breaking $63 million by a Canadian mining firm, Lucara. This diamond, named Lesedi la Rona is in the shape of a tennis ball, thus making it the second largest found diamond in the world closely following the largest diamond ever found was in South Africa in 1905. The diamond was 3,106 carats and was cut into nine stones that are now a part of the British Crown jewels.

“Not only is the rough superlative in size and quality, but no rough even remotely of this scale has ever been offered before at public auction,” David Bennett of Sotheby’s had revealed to CNN Money.

Botswana is the largest producer of diamonds in Africa, which has helped the small country achieve middle-income nation status. Economist and former deputy governor of the Botswana Central Bank Keith Jefferis has argued that the proceeds of the country’s buoyant mineral resources have been duly used for the improvement of living standards and the expansion of jobs in Botswana.

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