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.
Lucara Diamond Mining News
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.
Lucara Diamond’s Lesedi La Rona is said to face challenges other rock never do, including its multi-million-dollar price tag and a risky polishing process that can take months or years.
The 373.7-carat diamond, sold during the Vancouver-based miner’s $54.8 million recent tender, was one of 15 large and high value diamonds offered by the company.
Quarterly revenues were about half of the revenues posted in the year-ago quarter.
Emmanuel Momoh found the 706-carat diamond in Sierra Leone's Kono district.
The target group was the the top diamond consumer in 2015, a year in which most commodities plummeted, hitting the mining industry very hard.
The project, which has existing infrastructure, a camp and a diamond processing plant in place, is located just 5km from Letšeng, the highest dollars-per-carat kimberlite diamond mine in the world.
Lucara Diamond Corp. is pleased to announce excellent results from its second Exceptional Stone Tender of 2016.
The world's most expensive rough diamond is now in the hands of De Grisogono, a Swiss luxury jeweller and watch maker.
The history of the diamond industry in Africa has been fraught with worker exploitation, environmental destruction, government corruption and squandering of revenues.
Canada's Lucara Diamond, the company that found the massive gem, said it will keep it as bids fell short of the minimum reserve price.
CEO of Lucara Diamond, the company that found it, is urging the potential buyer to leave it untouched.
The three-billion-year-old diamond the size of a tennis ball was found by Canada's Lucara Diamond last year.
The record sale is likely to ramp up speculation about how much a second Lucara diamond — the "Lesedi la Rona" — will fetch at auction next month.
The rock, known as “Lesedi La Rona”, was unearthed in November in Botswana at a mine owned by Canada's Lucara Diamond.
The 10 diamonds, found at the Karowe mine in Botswana, were sold for gross revenues of $33,632 per carat.
The rock, discovered by Lucara in Botswana last year, is second in size only to the Cullinan diamond in the British Crown jewels.
Canada's Lucara Diamond had launched a a competition to name the rock earlier this year.
‘Congratulations – you are the CEO of the first company in 100 years to recover a stone over 1,000 carats.’
The Africa-focused miner needs funding to complete the acquisition of the Mothae project and to repay short-term debts, including £500,000 due this week.
Lucara Diamond Corp. is pleased to report revenues of $90.9 million for the quarter with an operating margin of 88% and revenues of $158.6 million for the nine months to September 2015.
Shares in the Africa-focused diamond miner climbed almost 6% after it revealed the Mothae kimberlite project in Lesotho may be more profitable than previously assumed.
Since the recovery of the first large diamond from the Karowe mine in 2013, Lucara has found 216 gems, which it has sold for more than $250,000 each.