Events & AwardsMay 27, 2026
5 Security Tips for Las Vegas Jewelry Market Week 2026This year, it’s what could happen outside of show hours that worries JSA Executive Vice President Scott Guginsky.
EditorsAug 07, 2014
The reasons behind the big diamond finds
I feel as though I’ve written a fair number of “large rough unearthed” stories in recent months, so many, in fact, that I began to wonder: Has this been an unusually active year for finding rough diamonds that are 100 carats or larger?
The two largest, publicized finds to date in 2014 belong to Vancouver-based Lucara Diamond Corp.: a 259-carat piece of rough and a 239-carat piece of rough, both found at the company’s Karowe mine in Botswana.
These two huge finds were part of a larger haul the diamond company removed from Karowe in the second quarter, a bounty that included 13 diamonds larger than 100 carats, eight of which were gem-quality. In addition to these two 200-carat-plus diamonds, the company found two rough diamonds weighing 153 carats each and a 133-carat stone.
The third biggest gem-quality rough find of the year was a very recent one: Gem Diamonds Ltd. discovered a 198-carat “exceptional white” Type IIa rough diamond (pictured above) late last month at its Letšeng mine in Lesotho, a small nation entirely enveloped within South Africa. The rarest type of diamond on earth, Type IIa’s contain no measurable nitrogen or boron impurities, and colorless Type IIa stones are known for their exceptional color and clarity.
The discovery of this 198-carat piece of rough comes in addition to Gem’s unearthing of a 162.06-carat Type IIa diamond and a 161.74-carat Type I stone earlier this year, also at Letšeng.
And, of course, I cannot omit the 122.52-carat piece of blue rough (pictured below) Petra Diamonds Ltd. pulled out of the Cullinan mine in South Africa, a stone that could set a new world record price for a rough diamond when it’s sold.
Given all of these large rough finds, which are sure to yield some exceptional polished diamonds, I asked Martin Potts, research director for mining at London-based financial advisory firm finnCap, if, comparatively speaking, 2014 has been a year in which miners have found an unusually high number of large rough diamonds.
He said “probably yes,” and it is mostly due to the Karowe mine. Fully commissioned by the second quarter of 2012, the mine has proved to be a consistent supplier of large stones, which was not necessarily expected to be the case when the mine was built.
Also contributing to the wealth of big diamonds coming up is the fact that Gem Diamonds is mining in Letšeng’s satellite pipe again, which historically has been the source of most of the mine’s large stones, Potts said.
And, as Russell Shor, a senior industry analyst with the Gemological Institute of America, points out, it is a mine with quite a history.
While the 198-carat diamond is the largest stone to emerge from the mine this year--and actually the largest since 2011, according to Potts--this also is the mine that produced the 603-carat Lesotho Promise, the 15th largest diamond ever found; the 493-carat Letšeng Legacy; a 553-carat diamond in 2011; and a 478-carat diamond in 2008.
“The latest find,” Shor observes, “is not unusual for this particular mine.”
He adds that the Cullinan mine, which produced the 122.52-carat blue stone this year that could shatter the world rough diamond price record, also historically has been a prolific source of significant stones.
It is the source of one-fourth of all diamonds more than 100 carats in size, including the largest rough diamond discovered to date: a 3,106-carat piece of rough aptly named the Cullinan diamond.
“The latest find,” Shor observes, “is not unusual for this particular mine.”
He adds that the Cullinan mine, which produced the 122.52-carat blue stone this year that could shatter the world rough diamond price record, also historically has been a prolific source of significant stones.
It is the source of one-fourth of all diamonds more than 100 carats in size, including the largest rough diamond discovered to date: a 3,106-carat piece of rough aptly named the Cullinan diamond.
More on Editors
The Latest
ColumnistsMay 27, 2026
What Jewelers Can Learn From Luxury Fashion’s Digital PlaybookHigh-end fashion houses know how to emotionally connect with customers online. Retail jewelers should take note, Emmanuel Raheb writes.
Events & AwardsMay 27, 2026
Couture’s ‘The Iridescence’ Will Showcase 7 Emerging Jewelry DesignersThe designers are the third cohort of mentees from the show’s Belonging @ Couture mentorship program.
Brought to you by
All Eyes on Gold Prices. Alternatives to Look For. And What to BEWARE of in VegasAs gold prices rise, today’s retailers are looking for alternatives at prices that will appeal to wider audiences.
ColumnistsMay 26, 2026
The Key Mindset for Better Trade Show BuyingBuying discipline at trade shows starts with clarity about your inventory levels, Smith writes.
Weekly QuizMay 21, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsMay 26, 2026
12 JCK Talks Sessions to Add to Your Las Vegas ScheduleThe trade show’s education series returns, with sessions on retail trends, AI, watches, marketing, corporate responsibility, and more.
Events & AwardsMay 26, 2026
CBG Brings Its Curated Designer Project to Las Vegas ShowThe Curated Designer Project has expanded to highlight eight independent jewelry designers during CBG’s Las Vegas show.
Brought to you by
How Modern Training Is Becoming a Competitive Advantage for Jewelry RetailersWith the trade and customer trust in mind, GIA® developed NextGem™ – on-demand training designed specifically for retail.
TrendsMay 26, 2026
Amanda’s Style File: A Cooldown Is ComingBring a cool tone to your summer jewelry with these white metal pieces.
Events & AwardsMay 22, 2026
Instore Buys JA New York ShowThe deal closed this week, which means Instore will produce the JA NY show slated to take place this fall.
FinancialsMay 22, 2026
Richemont’s Jewelry Brands Lead the Charge in Q4The company’s jewelry sales were up in Q4 and the fiscal year, with Richemont raising prices in part because of the cost of gold.
CollectionsMay 22, 2026
Leigh Maxwell Celebrates 5 Years at Couture With ‘Bauble’ CollectionThe “Bauble” capsule collection of colorful one-of-a-kinds includes our Piece of the Week, the “Bauble” earrings, featuring rose zircon.
MajorsMay 22, 2026
Stuller’s New Packaging, Display Catalog Is Out The updated catalog has a newly dedicated section for gift wrapping.
PodcastsMay 21, 2026
Episode 5: Sotheby’s Frank Everett Puts the Auction Market in PerspectiveEverett covers colored stones’ surging popularity, the mellow return of the “Mellon Blue,” and his “The Devil Wears Prada” doppelgänger.
IndependentsMay 21, 2026
Springer’s Jewelers’ New Flagship Will Serve Next-Gen Luxury ShoppersFourth-generation CEO Lilly Mullen wants to emphasize experience, connection, and personalized service.
Events & AwardsMay 21, 2026
JA Announces Nina Pugliese Memorial ScholarshipThe new award, created in partnership with Henne Jewelers, honors the late designer’s legacy through supporting jewelry education.
SourcingMay 21, 2026
Botswana, Angola Join WFDBThe addition of the diamond-producing countries as nation affiliated members broadens the federation’s global representation, WFDB said.
CrimeMay 20, 2026
NYPD Warns of Jewelry Swap Scams Targeting SeniorsThe NYPD is warning elderly New Yorkers to keep their jewelry hidden when walking outside to avoid being a target.
IndependentsMay 20, 2026
Adornment & Theory’s New Store Feels Like Home Designer Viviana Langhoff has realized her dream of owning a space for her Chicago jewelry store that looks and feels like her brand.
Events & AwardsMay 20, 2026
Here Is Couture’s 2026 Education Lineup The sessions will run from Friday, May 29, to Sunday, May 31, with one being a live taping of an episode of Couture’s podcast.
Lab-GrownMay 20, 2026
Savannah Friedkin Jewelry Names New CEOFormer Stephanie Gottlieb Fine Jewelry executive Morgan P. Richardson is joining the lab-grown diamond jewelry brand.
WatchesMay 19, 2026
Here’s the AP x Swatch Pocket Watch That Caused PandemoniumThe $400 pocket watch is a blend of Audemars Piguet’s iconic eight-sided Royal Oak and Swatch’s unserious Pop watches from the ‘80s.
CollectionsMay 19, 2026
Chris Ploof’s New Collection Makes an Ancient Metal ModernWith gold prices on the rise, the “Modern Electrum” collection uses an alternative, non-tarnishing metal alloy composed of gold and silver.
IndependentsMay 19, 2026
Ellen and Michael Fruchtman Retire, Sell Marketing Agency Fruchtman Marketing has new owners, Erin Moyer-Carballea and Manuel Carballea, and will relocate to Miami.
ColumnistsMay 19, 2026
Peter Smith: The (Mostly) Immutable Sales TruthsIn a column for the 2026 State of the Majors issue, Smith lists 10 time-tested principles about sales that still ring true.
ColumnistsMay 18, 2026
Edahn Golan: What a K-Shaped Economy Means for Fine JewelryIn a column for the 2026 State of the Majors issue, Golan spells out how the growing economic divide in the U.S. is reshaping the market.
CollectionsMay 18, 2026
Foundrae’s New Collection Taps Into JoyThe “Limitless Expansion of Joy and Hope” collection evokes summer through colored gemstones and motifs of butterflies and florals.
