Industry News by Nemesis

Karowe Yields Two Massive Stones

September 22, 2019


Lucara Diamond Corp. has recovered a 123-carat, type II rough and a 375-carat, gem-quality stone from the high-value portion of its Karowe mine in Botswana, it said Wednesday.

Including the two diamonds, the company has unearthed 29 diamonds over 100 carats, including eight weighing more than 200 carats. The 123-carat diamond was from the run of mine ore at the EM/PK(S) portion of the south lobe of Karowe, known for its high-value, large diamonds, including the 1,109-carat Lesedi La Rona. The miner retrieved the 375-carat stone from the south lobe’s tailings - ore that has already been processed once.

“Lucara is pleased with the continued strong performance of the mine and the consistent recovery of large, high-quality diamonds that contribute more than 70% of Lucara’s total revenues,” said Lucara CEO Eira Thomas.

The miner also held its third rough-diamond tender on August 29, which was well attended despite weak market conditions, Thomas noted. Some 123 companies attended, with 47 of those winning one or more lots. A total of 19 diamonds have sold for more than $1 million from the three sales held so far this year, with seven of those selling for more than $2 million and one for in excess of $8 million.

Image: The 123-carat rough. (Lucara Diamond)


Source: Rapaport

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