Emmanuel Momoh found the 706-carat diamond in Sierra Leone's Kono district.
Lucara Diamond Mining News
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.
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.
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.
Since the recovery of the first large diamond from Karowe in 2013, the firm has found 216 gems at the site.
The star of the show was a 341.9 carat diamond —unveiled in April —, which sold for $20.55 million
The miner, which does not yet generates any income, expects to kick-off production at its Lemphane and Mothae mines later this year.
But some believe main challenge will be falling prices and wholesalers difficult access to credit to purchase rough diamonds.
Developing Mothae and Lemphane concurrently would allow Paragon to benefit from significant economies of scale, said Paragon Diamonds.
The gem will be sold along with two other greater than 100 carat diamonds, also recovered at Lucara's Karowe mine.
Let’s talk diamonds for a change.