The Lesedi La Rona Diamond: Where It Is Now?

The Lesedi La Rona Diamond:  Where It Is Now?

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What is the Lesedi La Rona Diamond?

The Lesedi La Rona diamond is the third-largest diamond ever found, and the world’s second largest gem-quality diamond. The stone was discovered on November 16, 2015, in the Karowe mine in Botswana. It is 1,109 carats and measures 65 millimeters x 56 millimeters x 40 millimeters! It was found 660 feet below the surface and was mined using Large Diamond Recovery (“LDR”) XRT machines. The Lesedi La Rona diamond is the largest diamond ever to be discovered using one of these large machines, which are used for automated diamond sorting. It is also the largest diamond to ever be discovered in Botswana. The Lesedi La Rona was discovered by, and is still owned by, the diamond exploration and mining company Lucara Diamond Corp.

The History of the Lesedi La Rona

Botswana, the country in which the Lesedi La Rona diamond was discovered, is one of the top three producers of mined diamonds, the other two countries being South Africa and Namibia. The Karowe mine in Botswana is located in the Orapa/Letlhakane district, approximately 500 kilometers north of Botswana’s capital city, Gaborone. The Lesedi La Rona was discovered within the AK6 pipe of the Karowe mine, which has yielded over one million carats worth of diamonds alone! It is estimated that the Karowe mine as a whole has an estimated $2.2 billion worth of diamonds within. It is also estimated that the Lesedi La Rona diamond is over 2.5 billion years old. Wow!

This gorgeous stone was given its name after Lucara Diamond Corp. held a competition in Botswana, which resulted in over 11,000 responses. Lesedi La Rona, in the Tswana language, means “Our Light”. William Lamb, the CEO and president of Lucara Diamond Corp. stated, “’Lesedi La Rona’ symbolizes the pride and history of the people of Botswana.”

Where is the Lesedi La Rona Today?

In June 2016, the Lesedi La Rona diamond was insured for $120 million. On June 29, 2016, there was a public auction held at Sotheby’s in London, England, in an attempt to sell the Lesedi La Rona diamond, however, the bidding did not reach the undisclosed reserve price, and ultimately was not sold.

The highest bid for the Lesedi La Rona was $61 million, which fell short of the $70 million price point at which the stone was expected to sell. As this public auction was a failure, it is most likely that the diamond will be sold privately at some point in the future. Lucara Diamond Corp. provided a news release the same day, stating that the diamond would be retained by Lucara for the time being.

Do you enjoy the study of fine gems and jewellery? Satisfy your curiosity at Loan Star Jewellery & Loans! We have a large selection of gold, diamond and silver jewellery for you to explore.

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