Attack Of The Monster Diamonds! - Gainesville Coins News
No Minimum order! We accept Pay with Credit Card
Call Us: (813) 482-9300 Mon-Fri 9:00AM-6:00PM EST
Login or Register
Log into your account
About Gainesville Coins ®
Billions Of Dollars Bought And Sold A+ BBB Rating 10+ Years No Hidden Fees Or Commissions All Inventory Ships Directly From Our Vault

Attack Of The Monster Diamonds!

blog | Published On by
Attack Of The Monster Diamonds!
our-light3

The diamond mining sector has been feeling more pain lately than many others. Unlike precious metals, diamond companies have had to deal with lab-grown synthetic diamonds encroaching on an already depressed market.

However, recent discoveries of some truly gigantic diamonds in mines around the world have lifted spirits and made for good publicity for an industry suffering from oversupply and low prices.

Going Large In Angola

Lucapa-404kt-diamond

Australian diamond miner Lucapa recently announced that a 404.2 carat diamond was hauled out of its Lulo mine in Angola. The company says that it is the largest diamond ever found in Angola, and estimates its value at up to $14 million. It joins three other diamonds weighing 100 carats or more that have been unearthed at Lulo in the last year.

Big Rocks In Botswana

Lucara-1111kt-diamond

Lucara Diamond found what is believed to be the second-largest diamond in the world, at its Karowe mine in Botswana. The 1,111 carat behemoth is the largest diamond found since 1905. Proving that the discovery was no fluke, another monster diamond was found the next day. Weighing 813 carats, it capped an astounding week for Lucara.  William Lamb, President and CEO, commented, "I am truly at a loss for words. This has been an amazing week for Lucara with the recovery of the second largest and also the sixth largest gem quality diamonds ever mined." Two other diamonds weighing over 300 carats were also found last year.

The 1.111kt diamond, which was discovered in November, was back in the news this week, when the winner of the "name this largest diamond ever found in our country" contest was announced. The winning name, “Lesedi La Rona," means "Our Light" in the native language of Botswana. The winner walked away with a $2.200 prize.

Russia: Strong in Diamonds!

Lest you think all the large diamonds in the world are in Africa, let's introduce Russia's Alrosa Diamonds. The world's largest diamond miner in carats, it is consistently hauling huge diamonds from its Jubilee operation in northeast Russia.

Alrosa-122kt-diamond

The latest eye-popping find happened this month, when a huge 121.96 carat diamond came out of the ground on February 11th. Estimated at $1.5 million, it has some small inclusions that will be removed when the stone is cut. Last year's tally of large diamonds included a 76 carat octahedral diamond in May a 103 carat diamond in September, and a 105.6 carat octahedral diamond in December.

The opinions and forecasts herein are provided solely for informational purposes, and should not be used or construed as an offer, solicitation, or recommendation to buy or sell any product

About the Author

Everett Millman

Steven Cochran

Precious Metals Market Analyst
BS University of South Florida (2002)

A published writer, Steven's coverage of precious metals goes beyond the daily news to explain how ancillary factors affect the market.

Steven specializes in market analysis with an emphasis on stocks, corporate bonds, and government debt. He writes a monthly review of the precious metals markets for SurvivalBlog.com.

This site uses cookies for analytics and to deliver personalized content. By continuing to browse our site, you agree that you have read and understand our Privacy Policy.