Lucara gets almost $18M for fragment of its massive ‘Lesedi La Rona’ diamond

Canada’s Lucara Diamond (TSX:LUC), the company that hit the jackpot in 2015 after finding the world’s second-largest diamond, just got $17.5 million for a piece that broke from that rock, the now historic 1,109-carat “Lesedi La Rona.”

To date, Lucara has sold 145 diamonds for more than $1 million each.The 373.7-carat diamond, sold during the Vancouver-based miner’s $54.8 million recent tender to luxury jeweller Graff Diamonds, was one of 15 large and high value rocks offered by the company.

Just like the 1,109-carat diamond it found in 2015, all the stones sold this week were mined at Lucara’s Karowe mine in Botswana, which has been yielding massive rocks as of late.

Last year, the miner sold one of those mammoths — the 813-carat “The Constellation” — for $63 million, setting a new record for a rough gem.

It wasn’t that lucky when it came to three-billion-year-old “Lesedi La Rona,” meaning “our light” in the Tswana language spoken in Botswana, as the rock failed to sell at a Sotheby’s auction in June last year.

This is the 373.72-carat rock, once part of the second largest gem quality diamond ever discovered. (Image courtesy of Graff Diamonds.)

The gem, second in size only to the Cullinan diamond in the British Crown jewels, was expected to go for at least $70 million. The highest bid, however, was around $61 million, leaving it in Lucara’s hands.

To date, the company has sold 145 diamonds for more than $1 million each, bringing in revenues of more than $528 million, its President and CEO William Lamb said in the statement.

Botswana, the focus of Lucara, is the world’s largest producer of diamonds and the trade has transformed it into a middle-income nation.

Henry Sapiecha

Leave a Reply

Your email address will not be published. Required fields are marked *