1,111 Carat Diamond Found In Southern Africa, Second Largest In History

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Lucara Diamond Corp. has dug out a 1,111 Carat diamond, the largest in a hundred years, and the second largest gem quality stone ever, from their mine in southern Africa.

Lucara (LUCRF) has mining assets in Botswana and is happy to announce the discovery of the 1,111 Carat Type IIa diamond.

Market Wired reports:

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The magnificent stone, which originated from the south lobe of Lucara’s Karowe Mine, is the world’s second largest gem quality diamond ever recovered and the largest ever to be recovered through a modern processing facility. The stone was recovered by the newly installed Large Diamond Recovery (“LDR”) XRT machines. The stone measures 65mm x 56mm x 40mm in size and is the largest ever to be recovered in Botswana.

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For additional pictures of the diamond, please go to the Lucara website www.lucaradiamond.com.

William Lamb, President and CEO, commented, “This historic diamond recovery puts Lucara and the Karowe mine amongst a select number of truly exceptional diamond producers. The significance of the recovery of a gem quality stone larger than 1,000 carats, the largest for more than a century and the continued recovery of high quality stones from the south lobe, cannot be overstated. Our focus on mining the south lobe, which is delivering value beyond expectation, has been perfectly timed with the commissioning of our recent plant modifications, enabling the recovery of these large, high quality exceptional diamonds.”

A conference call will be held on Thursday, November 19th, at 10:00am ET, 4:00pm Sweden.

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Lucara mining shares soar after they unveil a gem quality diamond larger than 1,000 carats.

CNN Money reports:

Lucara says the diamond was found in its Karowe mine in the southern African nation of Botswana, which has been up and running since 2012.

The company also said it had uncovered two “exceptional” white diamonds, estimated at 813 carats and 374 carats, at the same mine.

“I am truly at a loss for words. This has been an amazing week for Lucara,” Lamb said.

The largest gem quality diamond was the 3,106 carat “Cullinan Diamond” found in South Africa in 1905. From that was cut the “First Star of Africa” which now adorns the Royal Scepter — one of the British crown jewels now on display at the Tower of London.