DAILY NEWS Nov 6, 2012 10:43 AM - 0 comments

Lucara sees blue at Karowe

TEXT SIZE bigger text smaller text

Lucara Diamond (LUC-T) has found a rare blue diamond at its Karowe diamond mine, in Botswana.

The mine, Lucara's first, began commercial production in July. Karowe was known to host high-value Type II diamonds, but the 9.46-carat Type II stone is the first blue diamond recovered.

The stone will be sold in a tender of 57,000 carats of diamonds from Karowe in late November. The tender will be the fourth of 2012.

The company's first two sales of Karowe diamonds this summer brought in US$215 and US$179 per carat, well below the US$301 per carat Lucara reported in an independent valuation last December.

More recently, however, Lucara received US$257 per carat in a September auction, in line with a 15% decline in overall diamond prices over the past year.

The company also owns 75% of the Mothae mine, in Lesotho, which is in the trial-mining stage.

© 2015 Mining Markets. All Rights Reserved.


A 9.46-carat blue diamond with other stones recovered from Lucara Diamond's Karowe mine, in Botswana. Credit: Lucara Diamond
A 9.46-carat blue diamond with other stones recovered f...

Companies in This Story

Lucara Diamond Corp

Horizontal ruler
Horizontal Ruler

Post A Comment

Note: By submitting your comments you acknowledge that Mining Markets has the right to reproduce, broadcast and publicize those comments or any part thereof in any manner whatsoever. Please note that due to the volume of e-mails we receive, not all comments will be published and those that are published will not be edited. However, all will be carefully read, considered and appreciated.

Your Name (this will appear with your post) *

Email Address (will not be published) *

Comments *

* mandatory fields