A 1,758-carat diamond, second only in size to the famous Cullinan diamond
, has been unearthed by Lucara Diamond Corp at its Karowe mine in Botswana. The trouble is there aren't very many buyers for a precious stone that size.
The 1,109-carat Lesedi La Rona
, which Lucara recovered in November 2015, failed to meet its undisclosed reserve price at a June 2016 auction, putting pressure on the company’s shares. British diamond dealer Graff Diamonds finally bought it for $53m in September 2017. Forbes reported
late last year that Graff had created 67 finished gems from the stone.
The stone is the latest in a series of high-value recoveries by Lucara, Since introducing its XRT diamond recovery technology, the company has recovered 12 diamonds over 300 carats, the company said, including a 472-carat and a 327-carat diamond in April 2018.