Sourcing

Tender of large rough nets Lucara $23M

SourcingNov 26, 2013

Tender of large rough nets Lucara $23M

 Mining company Lucara Diamond Corp.’s latest exceptional stone tender brought in $22.9 million for the company, or $20,280 per carat.

Vancouver, British Columbia--Mining company Lucara Diamond Corp.’s latest exceptional stone tender brought in $22.9 million for the company, or $20,280 per carat.

The special sale of rough diamonds from the Karowe Mine in Botswana, the company’s only fully operational mine, was completed on Monday.

The tender consisted of 14 single-stone lots totaling 1,028 carats, and sold 100 percent by volume.

The highest-grossing stones were a 256.6-carat and a 137.9-carat diamond, which sold for $4.40 million and $4.28 million respectively. An additional seven diamonds sold for more than $1 million each.

This is the company’s third tender of “exceptional” stones this year. The first and second, held in May and September respectively, both netted Lucara more than $24 million each.

Lucara is slated to hold one more tender during the fourth quarter, bringing the total volume of diamonds sold in 2013 to more than 420,000 carats.

The company also reports continued success in finding large stones from the Karowe Mine, including a 167-carat diamond and a 122-carat diamond, which will be sold on tender in 2014.

“The company has received tremendous demand for its beautiful Karowe diamonds. This success truly demonstrates how robust the market continues to be for large, high-quality diamonds,” said Lucara President and CEO William Lamb. “Globally, diamonds above 100 carats are exceedingly rare yet since March alone Karowe has produced 16 diamonds greater than 100 carats each.”

Based in Vancouver, Lucara owns 100 percent of the Karowe Mine and has a 75 percent stake in the Mothae Project in the Kingdom of Lesotho. 

Michelle Graffis the editor-in-chief at National Jeweler, directing the publication’s coverage both online and in print.

The Latest

EditorsMay 11, 2021
We Need to Change the Way We Talk About Lab-Grown Diamonds

As Pandora moves away from mined diamonds, here’s why the conversation needs to shift from personal preference to consumer education.

ColumnistsMay 11, 2021
The Smart Lab: Everything You Need to Know About Social Media Shopping

Smart Age Solutions’ Emmanuel Raheb touches on the social commerce opportunities available to help grow your business.

IndependentsMay 11, 2021
Halstead Announces Call for 2021 Grant Entries

The bead company awards cash and supplies annually to a new jewelry business.

Brought to you by
How to Engage and Sell to Millennials

Millennials were once feared in the diamond industry, but now this younger generation has become today’s largest diamond buying demographic.

EditorsMay 10, 2021
GiGi Ferranti’s Graffiti-Inspired Collection Wows

The Brooklyn-based designer just took initial and heart pendants to a whole new level.

Weekly QuizApr 29, 2021
This Week's Quiz
Test your knowledge of jewelry news from the week of May 3-7, 2021.
Take the Quiz
Events & AwardsMay 10, 2021
Register Now for AGA’s Virtual Conference Covering Diamonds

Its annual half-day event will be held on Thursday, June 3, from 11:30 a.m. to 2:00 p.m. EDT.

Events & AwardsMay 10, 2021
Diamonds Do Good Is Crowdsourcing a Special Design

The organization is asking designers to interpret growth, unity, and equality through jewelry.

Brought to you by
A New Golden Age

Gold has had its share of ups and downs over the last 5 decades. Here’s why the metal is having another big comeback.

Events & AwardsMay 10, 2021
Major Museum Gem Hall Sets Reopening Date

The redesigned gem and mineral halls at New York’s famed natural history museum will welcome back the public in mid-June.

×