Diamonds
Lucara sells 373.72-carat diamond for US$18m
2017/05/16
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A 373.72-carat diamond from Lucara
Photo credit: Lucara Diamond Corporation

Lucara Diamond Corporation sold a 373.72-carat rough diamond for US$17.54 million from its first exceptional stone tender of 2017.

Lucara Diamond Corporation sold a 373.72-carat rough diamond for US$17.54 million from its first exceptional stone tender of 2017. 

The company achieved a total of US$54.8 million in sales, or US$31,010 per carat. The tender consisted of 15 single-stone lots, ranging from 373.72 carats to 29.90 carats in size, totalling 1,765.72 carats.

William Lamb, president and CEO of Lucara Diamond, commented, “Now on its fifth year of production, the Karowe mine continues to deliver strong and consistent results from its regular and exceptional tenders, demonstrating the robust nature of the orebody and the predictable contribution from large, high-value diamonds (more than 10.8-carat specials).”

A total of seven diamonds sold for more than US$2 million each, including Lot 1001 -- the 373.72-carat Type IIA diamond, which fetched a per carat price of US$46,935 .

Three additional diamonds were snapped up for more than US$4 million including a 182.47-carat stone, which sold for US$6.3 million. The average value of diamonds sold year-to-date exceeded US$1,221 per carat.

“This tender achieved a price in excess of US$31,000 per carat, further evidencing the continued, strong demand for our diamonds in the marketplace. To date, the company has sold 145 diamonds for more than US$1 million each, bringing in revenues of greater than US$528 million. These strong cash flows support the company’s dividend policy and growth strategy,” added Lamb.
 

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