World's second largest diamond worth up to $40M found in Botswana

The world second largest diamond ever found is a rough 2,492-carat stone worth up to $40 million which has been unearthed in Botswana at a mine owned by Canadian firm Lucara Diamond.

Botswana is one of the world's biggest producer of diamonds which accounts for about 20 percent of the global production .

Lucara Diamond say it is the biggest find of 3,106-carat Cullinan diamond which is found in South Africa in 1905 and was cut into nine separate stones which was bought by French fashion brand Louis Vuitton for an undisclosed sum.

Lucara say the stone was detected with the use of Lucara's Mega Diamond Recovery X-ray technology.

Botswana's government has proposed a law that will ask companies once granted a license to mine and sell a 24% stake to local firms if the government does not exercise its option of becoming a shareholder.

Source : BBC