With the discovery, the miner has already exceeded the total number of diamonds of over 100 carats recovered in 2017.
Botswana Mining News
The two companies will exchange past exploration information on areas prospective for diamonds in Zimbabwe and form a jointly-owned special purpose vehicle to develop and exploit diamond resources.
The Lerala Mine was opened in 2008 and had to be shut twice due to weak sales, until it was placed under judicial management last year.
The rock weighed 327 carats and it is a top white gem diamond.
The company's revenue jumped a whopping 174% in the first quarter of the year thanks to strong demand for its rough rocks and the sale of a 910-carat diamond, the fifth-largest ever found.
Project is located about 100 km south of Jwaneng, the world’s richest diamond mine.
The company raised prices a similar amount in its previous sale at the end of February.
Recovered from the Karowe Diamond Mine located in Botswana.
When it was placed under liquidation, Tati had incurred a cumulative loss of 1.6 billion pula ($165 million) and owed creditors one billion pula.
Debswana, the joint venture between De Beers and the Botswana’s government, is seeking permission to deepen the Jwaneng mine to 830 meters.
Copper producer Cradle Arc is increasing output to 12,000 tonnes per year at a Botswana mine it has restarted.
Together with naming new top execs. the Canadian miner is acquiring Clara Diamond Solutions, which uses blockchain technology to trace diamonds as they move through the supply chain.
Proceeds from the placing will fund ongoing diamond exploration in South Africa and Botswana, and will also provide the company with additional working capital, the company said.
The 102.34-carat white diamond is thought to be worth considerably more than previous auction records for similar pieces.
Diamonds recovered during sampling at the project were not sufficient to produce a modelled diamond valuation, said the company.
Company posted a 4 percent jump in sales to $567 million in 2017, the highest annual sales since its formation in 2013.
Chief executive Bruce Cleaver said the changes were necessary to sustain De Beers' success as a business.
The egg-sized, 709-carat rough yellowish diamond was sold for $6.5 million to luxury jeweller Laurence Graff, chairman of Graff Diamonds.
Results of a preliminary economic assessment have revealed the potential for the development of an underground mine at the company's mine in Botswana.
Over 50% of the proceeds will be used to fund clean water, electricity, school, medical facilities, bridges and roads, none of which are currently available in the village of Koryardu, where the diamond was found.
The 709-carat rock is the second-largest ever found in the West African nation.
Sampling work at Ontevreden, part of the Vutomi joint venture, seems to prove the presence of high-grade kimberlite pipes.
Draft bill gives government first option to buy unusually large diamonds found in the country's mines, such as the world's second-biggest 1,109 carat diamond discovered by Lucara two years ago.
The company that unearthed the world's second-largest diamond but has so far failed to sell it, is mulling a partnership to sell the giant stone if a buyers is not found within the next six to eight weeks.
The Canadian diamond miner now expects to produce between 265,000 carats and 285,000 carats, compared with the previously targeted 290,000-310,000 carats.