Lucara: $51M From Exceptional Diamond Tender

Lucara: $51M From Exceptional Diamond Tender

Mining company posts strong results from first Exceptional Stone Tender of this year.

Lucara Diamond Corp. said revenues from its first Exceptional Stone Tender of this year from the Karowe mine in Botswana, consisting of 10 single diamond lots totaling 1,525 carats, came to $51.3 million (US $33,632 per carat).

The miner sold seven diamonds for more than $2 million each, including four stones which sold for more than $5 million each.

A 296.7-carat Type IIa diamond was sold for $12.2 million ($41,088 per carat), while a 245.4-carat diamond was bought for $10.5 million ($42,738 per carat), and a 119.0-carat diamond sold for the highest per carat price of $58,931 per carat.

President and CEO William Lamb commented, "The results from this tender continue to demonstrate the strength of the exceptional stone market.

"We are very pleased with the quality of the diamonds being recovered which is evident in the consistent average value per carat achieved."