Canadian miner unearths 1,094-carat diamond weeks after finding another mammoth gem
financialpost.comLucara Diamond Corp. has recovered another mammoth diamond from a mine in Botswana, its second major find in a month.
The latest gem weighed 1,094 carats and was found at the Karowe mine, the company said in a statement. While it’s smaller than the 2,942 carat stone discovered at the same site in August, it is still roughly a third the size of the biggest ever found, the famous Cullinan Diamond of South Africa.
Lucara’s Karowe project is famous for giant stones, and the company’s shares surged by more than a third last month when the initial mammoth finding was announced. Chief executive William Lamb said that the latest discovery further validated an expansion of the site’s underground capacity, which will extend the life of the project to at least 2040.
“As we progress with our underground development, we’re increasingly confident in Karowe’s capacity to produce these legendary diamonds well into the future, cementing our position in the high-end diamond market,” Lamb said.
The latest discovery bears similarities to a smaller gem found last year, which yielded polished diamonds that sold for more than US$13 million, the company said. It will be polished by HB Antwerp.
Bloomberg.com
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