World's Second-Largest 2,492-Carat Diamond Discovered in Botswana; Know Its Market Cost

The second largest diamond in the world has been discovered in the African country of Botswana. The 2,492-carat diamond was found by the Canadian diamond company Lucara Diamond Corp. Company officials are thrilled with the discovery of such a significant gem, which ranks second only to the famed Cullinan diamond. The Cullinan diamond was discovered about a century ago and is currently part of the British royal family's collection.

The diamond was discovered with the assistance of X-ray technology at the Karowe mine in western Botswana. According to the mining company, finding a diamond of this quality is an extremely rare event that occurs only once in hundreds of years. Interestingly, following the announcement of the discovery, shares of Lucara Diamond Corp rose by 40 percent. The estimated value of this diamond is $40 million, equivalent to 335 crore rupees.

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The Cullinan diamond, discovered in South Africa in 1905, remains the largest diamond ever found, weighing in at 3,106 carats. It was named after Thomas Cullinan, the owner of the mine where it was discovered. The Cullinan diamond was given to King Edward VII of Britain in 1907 and was later cut into nine pieces of various sizes by Amsterdam jeweler Joseph Asher. Some of these pieces are now part of the British royal jewelry collection. The largest piece, known as the Great Star of Africa, is set in the scepter of King Charles III.