Lucara’s Constellation diamond sells for record $63 million

The Karowe mine, in Botswana, has yielded gigantic diamonds in the past few months. (Image courtesy of Lucara Diamond)

Canada’s Lucara Diamond (TSX:LUC) said Monday it has sold a massive 813-carat diamond for $63 million, a new record for a rough gem.

The rock — named “The Constellation” — was found in November last year at the company’s Karowe mine, in Botswana, the same operation where Lucara also unearthed the now famous three-billion-year-old “Lesedi La Rona”, which will go under Sotheby’s hammer on June 29.

Dubai-based Nemesis International bought the Constellation, but Lucara has retained a 10% interest in the gem, which would allow it to profit from further transactions after the diamond is polished and cut.

Lucara’s massive Constellation diamond sells for record $63 million

This is the 813-carat rough diamond that sold for $63 million. (Image courtesy of Lucara Diamond)

“We are very pleased with the result from the sale of this magnificent 813 carat diamond as well as the opportunity to further participate in profits earned when the polished product is sold,” chief executive of Lucara William Lamb said in the statement.

Botswana is the world’s largest producer of diamonds and the trade has transformed it into a middle-income nation.

Lucara’s shares were up almost 3.5% on Monday early afternoon trading. So far this year, the stock has gained more than 70%.

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