Lucara, which has recovered two of the largest diamonds in recent history, is turning to technology to ensure growth in an industry where new mine acquisitions remain elusive.
Lucara Diamond Mining News
The Canadian company is taking on industry giants such as De Beers and Alrosa PJSC with an online platform to replace the current physical auctions.
The 1,758-carat diamond is larger than a tennis ball and weighs close to 352 grams (12.42 ounces).
Graff has now created a 302.37-ct square emerald cut diamond – the world’s largest of that particular cut.
Since mining began in 2012 at Karowe, a total of 43 diamonds heavier than 200 carats have been recovered, including 12 stones larger than 300 carats.
The goal is to extend the Botswanan mine life from 2026 to at least 2036.
The 127 carat, top white gem diamond, is one of the of 129 precious stones of over 100 carats the company has recovered at the mine since it began operations in 2012.
Lucara aims to recover between 300,000 and 330,000 carats from Karowe this year.
Miner will include Sarine’s mapping and planning technologies into its sales platform, which applies algorithms to match rough diamond production with polished manufacturing demand on a stone by stone basis.
The materials industry, which includes miners, trails all other sectors in the Bloomberg World Index on rates of female participation.
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.
Project is located about 100 km south of Jwaneng, the world’s richest diamond mine.
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.
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.
Over the last nine years 66 record-breaking and other noteworthy diamonds were recovered, and 61 of those have been found within the last five years.
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.
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.