Lucara sells 239 carat rough diamond for $5.75m

Canada's Lucara Diamond (TSX: LUC) completed a $24.85 million tender Wednesday for 15 single stone lots, including $5.75 million for a 239 carat rough stone.

Four other rough diamonds sold for more than $2.5 million. For the whole sale, the average price was $30,468 per carat. All the gems came from its Karowe mine in Botswana.

The company said it was "ecstatic" with the results especially since the mine was in its first year of production, adding the sale validated the quality of the diamonds it's recovering.

Lucara said it has extracted more large stones and it may hold another tender later in the year.

Related: Miner finds 239 carat raw diamond in Botswana