Lucara’s Karowe Generates $54 Million, Mothae Unviable

Karowe sorting plant

(IDEX Online News) – Lucara Diamond's Karowe mine in Botswana produced 303,060 carats – 12 percent above forecast – which were sold for $54 million through five sales.

Karowe’s diamond production included an exceptional 9.46 carat blue that sold for $4.5 million or $447,272 per carat.

Smaller blue diamonds have subsequently been recovered and are scheduled for sale this year.

The company’s 75 percent-owned Mothae mine in Lesotho has completed its trial mining program. An audit of recovery tailings was completed and the project is now transitioned to a small care and maintenance team.

Currently the project is not viable at existing diamond prices and the significantly higher capital outlay, particular for power, the diamond miner disclosed.