Botswana’s Giant Motswedi Diamond Finally Sold After Two Year Search for Buyer

Botswana’s extraordinary 2,488.32 carat Motswedi diamond, the second largest gem quality rough diamond ever discovered, has finally been sold after spending nearly two years on the market, marking a significant milestone for one of Africa’s most valuable natural resources.

Canadian mining company Lucara Diamond Corp. confirmed the sale in its second quarter 2026 financial results, revealing that the transaction contributed to the company’s $41 million quarterly revenue. However, the company did not disclose either the identity of the buyer or the final sale price.

The long awaited sale highlights both the rarity and the complexity of marketing some of the world’s largest natural diamonds.

A Diamond Unlike Any Other

Recovered from Botswana’s renowned Karowe Mine in August 2024, the diamond was initially reported at 2,492 carats before cleaning established its official weight at 2,488.32 carats.

The Gemological Institute of America (GIA) later confirmed that Motswedi is the second largest gem quality rough diamond ever discovered, surpassed only by South Africa’s legendary 3,106 carat Cullinan Diamond, unearthed in 1905.

Beyond its remarkable size, the stone is prized for its exceptional clarity and structure.

According to the GIA, Motswedi is a transparent, light brown, gem quality diamond consisting of a single crystal with several large gem quality sections and relatively few inclusions, making it exceptionally valuable.

Why It Took Nearly Two Years to Sell

Selling a diamond of this scale is far more complicated than marketing conventional gemstones.

Lucara had repeatedly acknowledged that finding the right buyer would require time because pricing, cutting and long term ownership options for a stone of this magnitude are unlike those of ordinary diamonds.

The company continued listing Motswedi in its inventory through the end of 2025 and again after the first quarter of 2026 before confirming its eventual sale in August.

Industry observers have noted that exceptional stones often attract interest from private collectors, luxury investors, museums and royal collections rather than traditional jewellery manufacturers.

The eventual buyer may decide to preserve the stone intact as a historic collector’s piece rather than divide it into polished diamonds.

A Name Rooted in Botswana

Lucara named the diamond Motswedi, a Setswana word associated with an underground spring or water emerging naturally from the earth.

The company previously said it hoped the diamond would create a lasting legacy for Botswana while showcasing the country’s position as one of the world’s leading producers of exceptional natural diamonds.

The Karowe Mine has become internationally recognised for producing some of the largest gem quality diamonds ever recovered.

Botswana Continues to Produce Giant Diamonds

Even as Motswedi was awaiting a buyer, Karowe continued adding to its remarkable record.

In July 2026, Lucara announced the recovery of another 1,305.4 carat rough diamond, marking the mine’s 10th discovery of a diamond weighing more than 1,000 carats since production began.

The consistent recovery of these extraordinary stones has reinforced Botswana’s reputation as one of the world’s premier sources of rare natural diamonds.

Rare Stones Defy Wider Market Pressures

The sale also comes at a challenging time for the global diamond industry.

Natural diamond prices have weakened in recent years as laboratory grown diamonds gain market share and consumer demand softens across several categories.

However, ultra rare stones such as Motswedi continue to occupy a unique segment of the market where scarcity, historical significance and collector demand often outweigh broader industry trends.

For Botswana, the successful sale underscores the enduring global appeal of its exceptional mineral wealth despite changing conditions in the international diamond market.

TVOA Perspective

Botswana continues to demonstrate why it remains one of Africa’s leading mining success stories. While global diamond markets are evolving, discoveries such as Motswedi highlight the continent’s unmatched natural resources and its growing ability to create long term value from them. As Africa invests more in responsible resource management, beneficiation and value addition, its mineral wealth can continue supporting sustainable economic growth for generations to come.

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