Lucara Diamond secures balance of funds for $779m Karowe
THE future of one of the world’s richest diamond mines has finally been secured three years after its botched expansion threatened to bankrupt owner Lucara Diamond Corp. The…
Lucara completes $54m sale of high carat diamonds
LUCARA Diamond said on Wednesday it had concluded the sale of two diamonds – the 549 carat Sethunya diamond and the 1,080 carat Eva Star – for a total of $54m. In terms of an…
Gem hopes Botswana Govt will halt “inappropriate” diamond sales
THE surprise election in November of Botswana President Duma Boko could result in “inappropriate sales” of diamonds from “a major competitor” being stopped in the southern…
Lucara cuts revenue guidance as high value diamond sales fall
LUCARA Diamond Corp. said on Thursday revenue would be lower for its 2024 financial year than forecast owing to lower sales of high value diamonds, which comprise up to 70% of…
Lucara to sell digital diamond sales company to former CEO
LUCARA Diamonds announced on Monday it had sold its digital diamond sales channel as it focussed on the commissioning of Karowe mine’s expansion project. William Lamb, president…
Lucara recovers huge 2,492 carat diamond from the Karowe mine
CANADIAN-listed Lucara Diamond has just recovered the largest diamond ever found since the world-famous Cullinan diamond at its Karowe mine in north-eastern Botswana. Lucara…
Lucara Diamond provides some much-needed sparkle
SECOND quarter results from Toronto-listed Lucara Diamonds have at last delivered some good news for the diamond sector after the gloom and doom of depressed sales and prices…
Lucara re-enters diamond sales agreement with HB Antwerp
LUCARA Diamond Corp, the Toronto-listed miner, has re-entered a diamond sales agreement with cutter and polisher HB Group for goods larger than 10.8 carats mined from the Karowe…
Lucara brings Karowe expansion back from brink with new debt deal
LUCARA Diamond said on Wednesday it had secured finance for the completion of the $683m underground expansion of its Karowe diamond mine in Botswana. This was after announcing…
Are diamonds for Anglo? De Beers’ slump raises questions
IN 2022, Petra Diamonds CEO Richard Duffy said the market for diamonds was undergoing a positive “structural change”. It was not a “bubble or a blip”. Rather, fundamental market…
Lucara buys time to negotiate debt crisis but minorities to pay the price
LUCARA Diamond Corp. has bought itself valuable time while it negotiates with lenders following delays to the underground expansion of its Karowe mine in Botswana. The downside,…
Lucara’s Karowe yields another whopper, provides welcome distraction
LUCARA Diamond Corporation said it had recovered another gem in excess of 1,000 carats from its Karowe mine in Botswana. The 1,080.1 carat gem, measuring 82.2 x 42.8 x 34.2…
Lucara Diamond’s Karowe expansion announces 25% capex blow out after delays
LUCARA Diamond Corp.’s expansion of the Karowe mine in Botswana would take 18 months longer to complete than first planned while the project’s capital costs would increase a…
Lucara reports hefty slide in Q1 Ebitda owing to ore mix, lower diamond prices
ROUGH diamond prices remained under pressure in the first quarter of Lucara Diamond’s 2023 financial year owing to geopolitical uncertainty. Pricing, combined with a temporary…
Botswana prepared to “walk away” from diamond talks with De Beers
BOTSWANA would be prepared to walk away from negotiations with De Beers regarding the renewal of a diamond sales agreement, said Bloomberg News. Citing comments made by Botswana…
Lucara signs ten year diamond sales agreement with HB Group
LUCARA Diamond Corp. last week signed a ten-year sales agreement with HB Trading in which it will supply the manufacturer with diamonds of 10.8 carats and above mined from its…
Diamond negotiations with De Beers “hugely distracting” to Botswana government
LUCARA Diamonds wanted a quick resolution to diamond sales contract negotiations between Botswana and De Beers as their two-year discussions were “hugely distracting” to the…
Lucara starts shaft-sinking at $547m project to extend the life of the Karowe mine
Toronto-listed Lucara Diamond Corporation (Lucara) generated US$120.5m in diamond sales from its Karowe mine in Botswana during the six months to end-June and has started shaft…
De Beers reports strong surge in rough diamond sales for second cycle
DE BEERS said its rough diamond sales totalled an estimated $650m for the second cycle (sight) which compares to $550m in sales for the corresponding period last year. First…
Lucapa Diamond Co. continues debt repayment progress
LUCAPA Diamond Company made further in-roads into its debt pile after it repaid A$10.5m to New Azilian, a company associated with the firm’s non-executive director Ross Stanley.…