Lucara recovers 123 ct diamond

Canada-based miner Lucara Diamond Corp has recovered a 123 ct gem-quality top white Type II diamond at its Karowe mine, in Botswana.

The diamond was recovered from direct milling ore sourced from the eastern magmatic/pyroclastic kimberlite (EM/PK(S)) unit of the South Lobe. 

The EM/PK(S) has also delivered several other high-value diamonds, including the 1 109 ct Lesedi La Rona, the 813 ct Constellation and the recently recovered 1 758 ct Sewelô, and is an important economic driver for the underground feasibility study which is currently under way and scheduled for completion in the fourth quarter of this year.

A 375 ct gem-quality diamond was also recently recovered at Karowe from the processing of historic dense media separation (DMS) recovery tailings, generated prior to the incorporation of Lucara's X-ray transmission diamond recovery circuits. 

Karowe continues to have strong production performance year to date, with recovery from direct milling ore of 22 individual, larger than 100 ct diamonds, including six diamonds greater than 200 ct, and the historic 1 758 ct Sewelô diamond – the largest diamond ever to be recovered in Botswana. 

Reprocessing of historic DMS recovery tailings is ongoing. Processing of these tailings does not displace direct feed ore, but rather supplements overall production.

Year to date, from all processing, the mine has produced 29 diamonds larger than 100 ct, including eight diamonds larger than 200 ct.

Meanwhile, Lucara on Wednesday said that, despite challenging market conditions, its latest tender, held on August 29, had been well attended, attracting representatives from 123 companies. Forty-seven companies bought one or more tender lots.

Over the three tenders held so far this year, 19 diamonds sold for more than $1-million each. This included seven diamonds that sold for more than $2-million each and one diamond that sold for more than $8-million.

"Lucara is pleased with the continued strong performance of the mine and the consistent recovery of large, high-quality diamonds that contribute more than 70% of Lucara's total revenues. 

Attendance at our sales remains high, a testament to our well-established client base and Karowe's production profile, which continues to be well regarded and sought after in the marketplace. This is further evidenced by our growth with the client base for Clara, which has grown from four to over 20 customers since the beginning of the year.  Ramp-up continues on plan, with transactions now occurring bi-weekly," Lucara CEO Eira Thomas commented on Wednesday.