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%.

273 0
Latest Stories

MSHA honours Massey operations for safety achievements

The Mine Safety and Health Administration (MSHA) in the USA has selected the Green Valley Preparation Plant and two mines operated by the Aracoma Coal Co to receive Pacesetter Awards for outstanding safety achievements. Green Valley and Aracoma are operating units of Massey Energy Co. The awards to the Green Valley plant and Aracoma’s Alma and Hernshaw mines honour operations [...]

Eyes on Indian Underground

increasing demand for coal. Industry observers believe that India is poised to become a major market for mining equipment, even larger than China, and this opportunity has led several global mining companies to open up shop in the country at least four


Bateman makes major acquisitions in mineral processing

As IM May is prepared for printing, with an article on developments in mineral processing, comes dramatic news from Bateman. The company has recently acquired the mining-process division of Intertech, with a strong market presence in the CIS. Even more significant, Bateman’s latest acquisition, announced as IM goes to press, is that of the Delkor [...]