World's third largest diamond discovered

A 1 098-carat diamond believed to be the third largest gem-quality stone ever to be mined, has been discovered in Botswana, according to a joint venture between Anglo American's De Beers and the government.

The stone was presented to President Mokgweetsi Masisi on Wednesday by Debswana Diamond Company's acting managing director Lynette Armstrong. It is the third largest in the world, behind the 3 106 carat Cullinan stone recovered in South Africa in 1905 and the 1 109 carat Lesedi La Rona unearthed by Lucara Diamonds in Botswana in 2015.

"This is the largest diamond to be recovered by Debswana in its history of over 50 years in operation," Armstrong said.

"From our preliminary analysis it could be the world's third largest gem quality stone. We are yet to make a decision on whether to sell it through the De Beers channel or through the state-owned Okavango Diamond Company," Armstrong said.

The government receives as much as 80% of the income from Debswana's sales through dividends, royalties and taxes. - Nampa/Reuters