Lucara strikes a deal to cut and polish with Louis Vuitton

Image from Louis Vuitton.

Lucara Diamond Corp. (TSX:LUC) has struck a deal with the luxury house Louis Vuitton to cut and polish the world’s largest uncut diamond, and second largest ever found.

Under the deal, Louis Vuitton and HB Company, a diamond manufacturer in Antwerp, will cut and polish the 1,758-carat Sewelo diamond.

Lucara isn’t saying how much the deal will be worth. The company will retain 50% of the diamonds that are cut from the massive Sewelo.

The Sewelo was unearthed at Lucara’s Karowe mine in Botswana in April 2019, bumping a previous find – the 1,109-carat Lesedi La Rona – to third place.

When Lucara unearthed the Lesedi La Rona in 2015, it was the second largest diamond ever recovered. But in April 2019, the Sewelo became the second largest diamond ever unearthed.

The Sewelo is the world’s largest uncut diamond.

In 2017, Lucara sold the Lesedi La Rona diamond to Graff Diamonds for $53 million.

(This article first appeared in Business in Vancouver)

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