Photos: World's third largest diamond is discovered in this African country

The world's third largest diamond - a 1,098-carat, three-inch gem - has been found in Botswana by local firm Debswana.

The stone, found on June 1, was presented to President Mokgweetsi Masisi in the capital Gaborone on Wednesday by Debswana Diamond Company's acting managing director Lynette Armstrong. 

The gem, found in Jwaneng, the world's richest mine, will be valued in the next few weeks. 

'It is believed to be the third largest gem-quality find in the world,' Armstrong said. The 'rare and extraordinary stone... means so much in the context of diamonds and Botswana,' she said. 

'It brings hope to the nation that is struggling.' It is the third largest in the world. The biggest diamond ever discovered in the world was the 3,106-carat Cullinan, found in South Africa in 1905. 

The 1905 find was named after the mine's founder, Thomas Cullinan, and was eventually bought by the Transvaal Colony government and presented to the then King of England, Edward VII. 

The second largest was 1,109-carat Lesedi La Rona - a diamond the size of a tennis ball, discovered at Karowe, northeastern Botswana, in 2015. The latest find is the biggest stone of gem quality to be recovered in the 50-year history of the company, a joint venture between the government and global diamond giant De Beers, Armstrong said. The diamond measures 73mm long, 52mm wide and 27mm thick. 

The diamond was presented to Botswana President Mokgweetsi Masisi Wednesday Minerals minister Lefoko Moagi said the discovery of the yet-to-be named stone, could not have come at a better time after the COVID-19 pandemic hit diamond sales in 2020. 

Botswana is Africa's leading diamond producer. 

The rare commodity accounts for 90 per cent exports.

Toyeen B's World: Photos: The world's biggest diamonds and where they are now.