Lucara’s deal with HB, which buys all stones over 10.8 carats found at Karowe, contributed to the overall increase in sales, the company said. The revenue from this agreement rose 15% year-on-year to $29.5 million.
Unlike most of its closest competitors, Lucara produces a significant amount of large, high-quality diamonds, for which the pricing has remained stable, compared to smaller, lower-quality diamonds, the Canadian miner said.
“These exceptional stones, coupled with Lucara’s innovative sales strategies, allow us to navigate current market conditions effectively,” chief executive William Lamb said in the statement.
From March to June, the company recovered 206 special diamonds, defined as rough diamonds weighing more than 10.8 carats, which represented 6.9% by weight of the total recovered carats from the processed ore.
Significant diamond recoveries during the period included a 491-carat Type IIa diamond, a…
