Industry News by Nemesis

Lesedi La Rona May Fetch $66M, Says Lucara CEO

February 20, 2016

The world’s second-largest diamond, recovered by Lucara at its Karowe mine in November last year, may fetch up to $66 million, according to company chief executive William Lamb, reports The Voice newspaper.


Named Lesedi La Rona — “Our Light” in the Setswana language — the 1,111-carat diamond is to be taken on a secret road show for presentation to potential buyers.


The diamond has already received an offer for $40 million, Lamb said last week, but analysts estimate that it may fetch up to $66 million.


Lucara paid just $49 million in 2009 to acquire a majority stake in the Karowe mine from De Beers.


Besides the Lesedi La Rona, which is the largest diamond to have been recovered in 100 years, Lucara has already recovered an 813-carat as well as a 374-carat diamond from the mine.


Source: GemKonnect

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