The company's main asset in Botswana is the mothballed Ghaghoo imine, which it acquired from De Beers in 2007.

The 58.6-carat diamond find follows the discovery of a 21.6 carat stone at the South African mine a week ago.

Mining at Argyle, which accounted for 90% of worldwide pink diamond production, ended in November 2020.

Lucara expects to achieve 75% of slated full production by late 2029, 1.3 years later than planned and spend $20m more than budgeted.