Largest diamond in more than 100yrs mined in Botswana

A 1,111 carat gem quality, Type IIa diamond has been unearthed in Botswana by Vancouver-based Lucara Diamond Corp. The magnificent stone is the world’s second largest gem quality diamond ever recovered and the largest ever to be recovered through a modern processing facility.

It originated from the south lobe of Lucara’s Karowe Mine, using the newly installed Large Diamond Recovery (“LDR”) XRT machines. The stone measures 65mm x 56mm x 40mm in size and is the largest ever to be recovered in Botswana.

“This historic diamond recovery puts Lucara and the Karowe mine amongst a select number of truly exceptional diamond producers,” says William Lamb, President and CEO of Lucara.

“The significance of the recovery of a gem quality stone larger than 1,000 carats, the largest for more than a century and the continued recovery of high quality stones from the south lobe, cannot be overstated.”

He stressed that the company’s focus on mining the south lobe, which is delivering value beyond expectation, has been perfectly timed with the commissioning of recent plant modifications. This, he notes has enabled the recovery of the large, high quality exceptional find.

Hours after Lamb’s statement, Lucara recovered two more exceptional white stones through the XRT diamond recovery units — an 813 carat stone and a 374 carat stone — from the prolific south lobe of its Karowe mine in Botswana.

An elated Lamb said: “I am truly at a loss for words. This has been an amazing week for Lucara with the recovery of the second largest and also the sixth largest gem quality diamonds ever mined. We are truly blessed by this amazing asset.”

The great finds come following an impressive third quarter. The Toronto Stock Exchange-listed company reported revenues of $90.9 million for the quarter with an operating margin of 88 percent and revenues of $158.6 million for the nine months to September 2015. In the report released on November 5, Lamb attributed the company’s success to the Karowe mine.

“Karowe continued to deliver strong cash flows in Q3, underpinned by the sale of our large, high value diamonds…,” he said.