Lucara Recovers 257-Carat Diamond

(IDEX Online News) – The big finds are continuing at the Karowe diamond mine as Lucara Diamond Corp. announced the recovery of a 257-carat diamond from the Botswana mine.

So far this year, the company has recovered 47 diamonds larger than 50 carats, of which 14 exceeded 100 carats.

The latest discovery will be sold at tender in the fourth quarter of this year.

"The Karowe mine continues to outperform with the consistent recovery of large, high value diamonds,” said William Lamb, president and CEO of Lucara.

“The recovery of this magnificent 257-carat diamond, along with the recovery of a significant parcel of larger stones over the past six months, strengthens our understanding of the resource at Karowe.

"Revenues generated from the sale of these diamonds will be used to reduce debt and strengthen Lucara's balance sheet,” he commented.

Lucara also announced that all the lots at its sixth rough diamond tender of the year had been sold with strong results. “With the challenges currently facing the rough diamond market, the demand for the high-quality goods produced by Karowe has remained consistently high,” said Lamb.