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Current Affairs

Large diamond discovered in Botswana

Date: 19 June 2021 Tags: Miscellaneous

Issue

A large diamond has been unearthed in Botswana. The authorities have claimed that the diamond is the third largest in the world.

 

Background

The discovery was made by a diamond mining company Debswana, which is a joint venture between the De Beers Group and the government.

 

Details

  • The diamond is said to be 1,098.3-carat and has a gem cut quality. The government is planning to use the money generated by selling, for national development.

  • The diamond was found in the South Kimberlite pipe of the Jwaneng mine. It was the biggest diamond in the company’s history.

  • The price of the diamond has not yet been decided. Earlier, the second largest diamond, Lesedi La Rona, was sold for $53 million.

  • The record for the largest ever diamond discovered is with Cullinan diamond, which was found in South Africa in 1905.

  • Diamond mining first started in Botswana in 1967. Since then, it has turned out to be one of the consistent diamond producers. It is currently Africa’s largest producer.

 

Diamond industry

  • The largest producers of diamonds are Russia, Botswana, South Africa, Canada, Angola etc.

  • In India, diamonds are majorly mined in the Panna mines located in the state of Madhya Pradesh.

 

Kimberley certification process

  • The Kimberley Process (KP) is a multilateral trade regime set up in 2003 that tries to prevent "conflict diamonds" from entering the mainstream.

  • Conflict diamonds are defined as diamonds used by rebel movements to finance military movements opposed to legitimate and formally recognized governments.

  • India is one of the founding members of the grouping. It was the chairman for the year 2019.