Lucara Diamond Corp. Announces Historic Sale of Exceptional Diamonds. Lucara Diamond Corp. has announced the successful sale of two remarkable diamonds from its Karowe Mine in Botswana: the 549-carat Sethunya and the 1,080-carat Eva Star. The combined sale amounted to $54 million, with $44 million recognized as revenue net of fees, excluding royalties. This transaction underscores the Karowe Mine’s reputation for producing large, high-quality diamonds.
The Sethunya, recovered in 2021, and the Eva Star, discovered in 2023, exemplify the exceptional quality of diamonds from the South Lobe of the Karowe kimberlite. William Lamb, President and CEO of Lucara, stated, “The sale of these two extraordinary diamonds further validates our investment in the Karowe underground project.” He highlighted the unique characteristics of the Karowe kimberlite, particularly in the South Lobe, which consistently yields Type IIa diamonds of remarkable clarity and size.
The financial arrangement for the sale included $20 million received in previous years, with an additional $24 million due. Of this, $16 million was received in the fourth quarter of 2024, and $8 million in the first quarter of 2025. As per the Project Facility requirements, $16 million of the sale proceeds, net of royalties, was allocated to the Cost Overrun Reserve Account.
This significant sale reinforces Lucara’s position as a leading producer of exceptional diamonds and demonstrates the strong demand for such rare stones in the luxury market. The company remains committed to innovative diamond recovery methods to maximize the value of its unique assets.
Lucara Diamond Corp. operates the Karowe Mine, which has been in production since 2012, and is renowned for its large, high-quality Type IIa diamonds. The company adheres to international best practices in sustainability, health and safety, environmental stewardship, and community relations.
