This May Be Worth $160 Million!

Talk about a rock! The world’s second-largest diamond was recently discovered in Botswana, a country in southern Africa.

The 2,492-carat diamond weighs just more than a pound. (A carat is a unit of weight for measuring precious stones.) This gem is the largest diamond discovered since a 3,106-carat diamond was found in South Africa in 1905.

The new stone was unearthed by a Canadian company, Lucara Diamond, in a mine known for its large gems. The company used advanced X-ray technology to find it. The equipment scans pieces of ore to determine whether they contain diamonds.

Experts say the diamond could be worth up to $160 million. It will likely be cut into smaller stones and then sold.

The diamond industry has faced competition from lab-grown versions of the gem in recent years. The latest discovery could boost interest in natural diamonds—and Botswana’s economy, experts say. The precious rocks make up about 80 percent of the country’s exports.

—Lisa M. Herrington