It's the second one over 70-carat Firestone has found at its Liqhobong mine this year.
Lesotho Mining News
The diamond producer has inked deals with New Azilian and Equigold, following the delivery and de-risking of the Lesotho-based mine, which began commercial production in December.
The Africa-focused diamond miner said current market conditions didn't support expansion project at the Lesotho mine.
While the 83.9 carat rock was not gem-quality, Lucapa says the find continues to underline the large-stone nature of the kimberlite resource.
The company cited uncertainty about the global diamond industry as one of the main reasons for choosing not to pay a divvy.
The white, makeable diamond is the largest found so far this year and follows the recovery of a 46-carat, gem quality white rock in December.
The company unearthed three of the 15 diamonds over 100 carats it found in 2018 in Q4, but carat recovery dropped by 17% to 29,523 ct in the period.
The company, which operates the Liqhobong diamond mine in Lesotho, said it recovered 224,947 carats in the three months through December, down from 240,733 carats in the first quarter.
The Australian diamond miner has secured 100 million rand (about $7m) in development funding for the Lesotho mine from South Africa’s Industrial Development Corporation (IDC).
Miner is ending 2018 on a high note after finding another two large diamonds from its Letšeng mine in Lesotho, the world’s highest dollar per carat diamond operation.
The gem-quality white stone was recovered undamaged, the miner said, and will be sold at the next tender in January.
The operation will add to the Perth-based company annual output, until now on depending on just one mine — Lulo, in Angola.
So far in 2018, Gem has found thirteen diamonds over 100 carats, two of which were found in the third quarter.
The Africa-focused miner sold a 68-carats white diamond for just under $1 million, which became its third most valuable stone to date.
First commercial diamonds from the company's 70%-owned Mothae mine expected in early November.
This summer’s crash in commodity prices is turning it into a year to forget for miners. Unless you dig the world’s biggest diamonds.
Diamond producer, ASX-listed Lucapa Diamond Company Limited (LOM) says the Company has begun to “shine bright” in the world of Special diamonds.
The company that digs the world’s most valuable diamonds may soon become the one that also finds the biggest.
The 10 rough, larger-than-100-carats diamonds produced at Letšeng led the hike.
Australia’s Lucapa Diamond (ASX:LOM) has found an 89-carat yellow diamond at its 70%-owned Mothae mine in Lesotho during the current bulk sampling program.
With the discovery, the miner has already exceeded the total number of diamonds of over 100 carats recovered in 2017.
Stone was recovered from the Neck zone of the Mothae kimberlite, not part of the current one-million carat Joint Ore Reserves Committee-compliant resource.
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.
It's a 169-carat, top white colour Type IIa rock diamond dug up at the company's flagship Letšeng mine in Lesotho.
Gem Diamonds found the 910-carat diamond, named "The Lesotho Legend," in January.