The 1,758-carat diamond is larger than a tennis ball and weighs close to 352 grams (12.42 ounces).
Botswana Mining News
Botswana's state-run Okavango Diamond Company has unveiled what is believed to be the largest blue diamond ever discovered in the southern African country.
A $565m funding package brings Cupric Canyon Capital one step closer to turning its Khoemacau project into a major copper and silver mine in northwestern Botswana.
Next step is obtaining necessary regulatory approvals to start bulk sampling at the South African project, which is expected during the second quarter of the year.
The diamond producer has inked deals with New Azilian and Equigold, following the delivery and de-risking of the Lesotho-based mine, which began commercial production in December.
The joint venture partners have awarded a $1.2-billion contract to extend the lifespan of their Jwaneng mine unit 2035.
Debswana lifted diamond output by 6% to a four-year high of 24.1 million carats in 2018.
While the 83.9 carat rock was not gem-quality, Lucapa says the find continues to underline the large-stone nature of the kimberlite resource.
Retail jewellery sales fell during the last quarter of 2018, while polished prices continued to decline into the beginning of 2019.
Zimbabwe's secretary in the ministry of foreign affairs was quoted as saying Botswana had offered to lend Zimbabwe $500 million to support its diamond industry.
Zimbabwe's diamond sector has struggled since the government kicked out private companies from the eastern Marange fields.
Our target market is the southern African region at 1.2 million tons per annum, using a combination of road and rail transport.
Since mining began in 2012 at Karowe, a total of 43 diamonds heavier than 200 carats have been recovered, including 12 stones larger than 300 carats.
The goal is to extend the Botswanan mine life from 2026 to at least 2036.
Tiffany has begun tracing each of its individually registered diamonds (0.18 carats and larger) by a unique serial number.
The 127 carat, top white gem diamond, is one of the of 129 precious stones of over 100 carats the company has recovered at the mine since it began operations in 2012.
Lucara aims to recover between 300,000 and 330,000 carats from Karowe this year.
The termination of the agreement will also enable Nornickel to pursue its own strategy for the African assets.
The Australian diamond miner has secured 100 million rand (about $7m) in development funding for the Lesotho mine from South Africa’s Industrial Development Corporation (IDC).
Copper prices on the international market have been recovering but Mowana mine, which employs 411 workers, has failed to capitalise on the gains due to equipment breakdowns.
Balisi was appointed as Managing Director on 1 January 2014 and his leadership has seen Debswana record unprecedented performance across a number of business areas.
The company acquired the remaining 50% in the joint venture from its previous partner and said negotiations were already advanced with an unnamed potential new associate.
Deal will allow the company to self-fund the Thorny River project from bulk sampling through to mine development.
So far in 2018, Gem has found thirteen diamonds over 100 carats, two of which were found in the third quarter.
Botswana's economy is expected to expand by 4.5 percent this year.