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EXCLUSIVE: The Gemological Institute of America’s CEO Susan Jacques Talks Diamonds, Mining and Gem Trends

The discovery of the Lucara Diamond in August in the Karowe Mine in northeast Botswana rocked the jewelry industry, but few were as moved by the historic find as Susan Jacques, the president and chief executive officer of the Gemological Institute of America. “As a gem geek, this is like finding the Holy Grail,” said Jacques. At 2,492 carats, the Lucara Diamond is the second largest diamond ever found, after the Cullinan Diamond, at 3,106 carats, which was discovered in 1905. “More than 100 years have gone by to find a second stone that is as remarkable,” observed Jacques. “These are treasures of Mother Nature.” The Cullinan Diamond was cut into 105 stones, but nine very major ones totaling more than 1,000 carats, Jacques said. “Some are in the Crown Jewels worn by the Queen and other members of the royal family. You see them at coronations and funerals.” Now the world awaits the fate of the Lucara Diamond, and the value that could be ascribed to it. “I’m sure the Lucara Diamond Corp. and the Botswana government are discussing the future of the stone,” Jacques said. “I know [outgoing] President Masisi would love it to stay as a rough stone, perhaps purchased by a

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