Lucara Rough Diamonds

KAROWE MINE BREAKS $1 BILLION SALES RECORD

For the first time since production started in 2012, Lucara Diamond Corp’s Karowe mine generated $1.02 billion in sales. According to Mining Weekly, the high figures are attributed to exceptional diamonds recovered from the Botswana mine.

 

Total revenue for the year is estimated at $295 million, averaging $823 per carat. Q4 revenue is expected to total $66.1 million. The tenders of diamonds recovered from the Karowe mine often feature exceptional, multi million dollars stones, such as the 813 carats Constellation diamond, estimated at $63 million ($77.5 per carat).

 

Lucara President and CEO William Lamb said, “achieving sales of $1-billion is a significant milestone and a recognition of our strong client base and the quality of diamonds recovered from the Karowe mine. We are pleased that our final sale of the year has shown strong demand for our larger higher quality diamonds and also a sustainable demand for the smaller size diamonds.”

Other articles on the category

The branch news