One of the largest diamonds ever to be excavated was found in Botswana at a mine owned by Canadian firm Lucara Diamond.

The 2,492-carat diamond is the world's second-largest discovery and comes more than a century after a 3,106-carat gem was found in South Africa in 1905. That stone, known as the Cullinan Diamond, was cut into nine large pieces, many of which were incorporated into the British Crown Jewels.

Lucara said on Wednesday that the gem was discovered at the Karowe Diamond Mine in northeastern Botswana using X-ray technology. The mining company did not provide a value for the "high-quality" stone.

"We are ecstatic about the recovery of this extraordinary 2,492 carat diamond," William Lamb, president and CEO of Lucara, said in a statement.

"This find not only showcases the remarkable potential of our Karowe Mine, but also upholds our strategic investment in cutting-edge [X-ray Transmission] technology," he added.

Photos published on Getty Images on Thursday showed Botswana President Mokgweetsi Masisi holding the 2,492-carat diamond at his office in the capital of Gaborone.

Botswana is one of the world's biggest diamond producers, accounting for 20% of global production last year, according to GlobalData.

Lucara said the discovery followed other significant finds from the same Karowe Diamond Mine, includingthe 1,758-carat Sewelô diamond in 2019 and the 1,109-carat Lesedi La Rona diamond in 2015.

French fashion brand Louis Vuitton bought the Sewelô diamond for an undisclosed sum in 2020, while the Lesedi La Rona diamond sold for $53 million to British multinational jeweler Graff Diamonds in 2017.