Lucara Digs Up 470-Carat Diamond
It’s from the Karowe mine in Botswana.
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.”
Millennials were once feared in the diamond industry, but now this younger generation has become today’s largest diamond buying demographic.
All proceeds of “Juneteenth Medallion” sales, as well as raffle tickets, benefit organizations that support BIPOC.
The company is implementing a restructuring plan after struggling amid the COVID-19 pandemic.
Gold has had its share of ups and downs over the last 5 decades. Here’s why the metal is having another big comeback.
There will also be a virtual component for those not in attendance.