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Lucara finds coloured diamonds in Botswana

Lucara Diamonds has found two coloured diamonds – one 9.74ct blue stone and one 4.13ct pink gem – at its Karowe mine in Botwana.
Lucara finds coloured diamonds in Botswana Lucara finds coloured diamonds in Botswana Lucara finds coloured diamonds in Botswana Lucara finds coloured diamonds in Botswana Lucara finds coloured diamonds in Botswana

Lucara's two newest finds

Staff reporter

Lucara said the finds "have the potential to contribute meaningful value to our regular production of large, high value type 2a diamonds. We look forward to offering these diamonds in our fourth quarter tender to be held in December 2019".

The Karowe mind yielded Lucara's largest find to date in April: a 1,758ct near gem of variable quality.

Like other diamond producers, Lucara's revenue has fallen in 2019, with weak demand and an excess supply of polished diamonds creating a difficult environment. Lucara's revenue in Q2 stood at $42.5 million, down 34% year on year.

Shares in the Toronto-listed company have almost halved in value since October 2018. The company's shares were trading at CAD$1.12 on Thursday.