Late last November, Lucara Diamond – owner of the prolific Karowe Mine in Botswana – has announced the recovery of a 1,111 carat gem quality, Type IIa diamond – the second largest gem quality diamond ever mined in the history of the world. Now, CEO William Lamb is giving an early glimpse to what the Lucara may be asking for the rare gem.
According to Lamb, the 1,111 carat diamond is worth more than $60 million dollars, and higher than the current estimates people are putting on it. According to Bloomberg, exceptionally large rough diamonds of this type can sell for about $60,000 per carat, though Lamb hopes that its status will boost its value. Lamb has already rejected an offer of $40 million for the stone.
“A lot of people will use $60,000 a carat as the basis”, Lamb told Bloomberg, “on top of that, you have to look at the size of the final polished diamond as well as the historical context. That’s going to play into it too”. According to the CEO, the company has already been approached by London’s Natural History Museum about displaying the stone.
The 1,111 carat diamond, which measures 65mm x 56mm x 40mm in size and is slightly smaller than a tennis ball, is second in size only to the Cullinan diamond, found in South Africa in 1905.