On the back of its most recent exceptional stone tender, Lucara Diamonds announced it has recovered its largest stone to date from its 100% owned Karowe mine in Botswana.

The 348 carat was recovered by the new XRT machines installed at the Karowe mine. They also recovered a 255 carat. The quality of the stones will be assessed only once they have been cleaned.

White stones LucaraLucara achieved revenues of US$29.7 million (or $20 625/carat) from its latest exceptional stone tender which included 13 single stones totaling 1 440 carats.

Highlights:

  • 10 diamonds sold for more than $1 million each including five stones which sold for in excess of $2 million each.
  • The 336.3 carat Type IIa diamond sold for $8.18 million ($24 324/carat)
  • The 8.03 carat pink diamond sold for $911 911 ($113 563/carat)
  • The 83.5 carat Type IIa diamond sold for $4.13 million ($49 467/carat) and was the highest value per carat stone sold at the tender.

“We are happy with the results of this sale with the final figures being in line with expectations. We have noticed that in the current market, buyers have become more conservative when considering pricing for the more complicated stones, which includes the 336 carat stone sold in the current tender,” William Lamb, President and CEO, comments.

“The recovery of the 348 carat diamond from the high value south lobe is the largest stone recovered from the Karowe mine to date. We are very pleased with the current operation of the newly installed XRT equipment and the continued recovery of our exceptional diamonds.”

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