Lucara Raises $54m from Two Huge Diamonds
February 13, 25
(IDEX Online) - Lucara raised $54m from the sale of two exceptional stones - weighing 1,080 carats and 549 carats - both recovered at its Karowe mine, in Botswana, it said this week.
The 549 carat Type IIa Sethunya diamond was recovered in February 2020 and was sold to the French luxury maison Louis Vuitton.
The 1,080 carat Eva Star, recovered in August 2023, was acquired by an unnamed buyer.
Canadian miner Lucara, 100 per cent owner of the mine, said it was "delighted" to announce details of the sales, now that final payments had been received and the goods had been delivered.
It did not specify the price achieved by the diamonds individually, but said they'd sold for a combined sum of $54m and had recognized $44m in revenue net of fees, excluding royalties.
"The company received $20m in previous years and following this sale, a further $24m was due, of which $16m and $8m were received in Q4 2024 and Q1 2025 respectively," Lucara said in a statement.
"The sale of these two extraordinary diamonds further validates our investment in the Karowe underground project," said William Lamb, president and CEO of Lucara.
"The unique characteristics of Karowe's kimberlite, particularly in the South Lobe, continue to amaze us with its ability to produce diamonds of exceptional size and quality."
Pics of Eva Star (left) and Sethunya diamonds courtesy Lucara and Louis Vuitton.