
Lucara Diamond Corp. announced this week the recovery of a 470-carat “top” light brown diamond measuring 49 mm x 42 mm x 26 mm.
It was recovered from the open pit mine’s South Lobe, specifically the EM/PK(S) unit.
Lucara, which owns 100 percent of Karowe, noted it’s recovered a string of large gem-quality stones recently, including five others topping 100 carats: a 265-carat diamond, a 183-carat stone, a 161-carat diamond, a 116-carat diamond, and a 106-carat diamond.
It’s also recovered 13 stones recently weighing between 50 and 100 carats.
Of its entire May production, focused in the EM/PK(S) unit, 12.7 percent of total production weight were diamonds weighing 10.8 carats or more.
The new 470-carat find is the third diamond weighing more than 300 carats recovered this year, including a 341-carat diamond and a 378-carat stone, both discovered in January.
Last month, the miner announced it had secured $220 million in financing to take mining operations at Karowe underground and extend the mine’s life by about 20 years.
Important diamonds like the 1,109-carat “Lesedi La Rona” Graff purchased for $53 million and the 1,758-carat “Sewelô” diamond Louis Vuitton is turning into a jewelry collection were discovered at Karowe.
Lucara CEO Eira Thomas said, “The benefits of a South Lobe-dominated mine plan continue to be realized in 2021 and underpins our confidence in the ever-improving Karowe resource as we mine deeper in the open pit to 2026 and move into underground mining out to at least 2040.
“Both main rock types from the South Lobe continue to deliver large, high value diamonds, including six diamonds greater than 200 carats in the first five months of this year alone. Our operations remain safe, stable and strong, maintaining all COVID-19 protocols.”
The Latest

The brand has attracted attention for its colorful, vintage-inspired pieces.

Marcelo Tau is the company’s new chief operations officer.

The jewelry designer founded her eponymous brand in 2015 after nearly two decades in the diamond industry.

Rio Grande provides a pathway to responsibly sourced gemstones.

Sponsored by HiBid


The watch seller comments on future demand, how the crypto crash impacted Rolex and Patek Philippe pricing, the supply recovery, and more.

It features fives sets of jewelry.

From laboratory-grown diamonds to design to country-of-origin, GIA's Alumni Collective™ has a seminar to suite your needs.

Through the collaboration, HRA will exclusively cut, polish, and distribute Plasmability’s lab-grown diamonds in the market.

They include a tour of a museum’s gem collection and demonstrations of diamond cutting and polishing.

The limited-edition pendants, available in digital and physical form, retail for $50,000 and are exclusive to holders of CryptoPunks NFTs.

The sale includes pieces “The King” gifted to his longtime manager, as well as jewelry Elvis owned and wore on stage.

Trevor Lawrence is the quarterback for the Jacksonville Jaguars.

Julie Collins succeeds Kathy Corey in the role.

Retailers would be wise to embrace this growing segment of the market instead of shunning it, Peter Smith writes.

He’s the owner of The Lightning Ridge Collection but will pivot to focus on his new role.

East Continental Gems provided more than 150 carats of gemstones for the project.

Rising prices and interest rate hikes are expected to weigh on consumer spending and economic growth over the next six months.

To kick off August, Amanda Gizzi is sharing jewelry featuring the month’s OG birthstone.

The Michigan auctioneer and appraiser also has to pay restitution totaling $25 million for other victims of his fraud scheme.

Johanna Levy will oversee the environmental, social, and governance programs.

Before his sudden death last week, the designer had reached new creative heights.

Despite unusually high summertime sales, the company’s CEO said the industry remains “watchful.”

Joseph Corey, Krystle Craycraft, Sue Hopeman, and Sherry Smith will each serve three-year terms on the board.

A lab-grown ruby makes the perfect nostalgic treat.

Sponsored by HiBid

Revenue for the group that includes Kering’s jewelry brands grew 32 percent in the first half of 2022.