Lucara Diamond Makes Groundbreaking Discovery in Karowe Mine, Botswana Lucara Diamond Makes Groundbreaking Discovery in Karowe Mine, Botswana

Actionable Trade Ideas

always free

Lucara Diamond has recently unearthed a 320-carat gem-quality, top light brown diamond at its Karowe mine in Botswana. In addition, a 111-carat diamond, described as a Type IIa white stone of high quality, has also been discovered. These remarkable finds are further complemented by two +50-carat Type IIa white diamonds, adding to the impressive recent recoveries at the mine.

Screenshot 2024 02 21 at 1.21.41 PM
Latest recoveries from Karowe mine. Image from Lucara.

This extraordinary feat follows the recovery of a 692.3-carat diamond at the Karowe mine last summer, adding to the collection of significant stones uncovered at this location.

The company announced that these spectacular recoveries serve to reaffirm its focus on the development of the underground mine, which aims to target over 95% EM/PK(S) ore during the initial three years of underground production. To materialize this vision, Lucara invested a substantial $106 million in underground development at Karowe in 2022.

In response to these exciting discoveries, CEO William Lamb conveyed the company’s enthusiasm, stating, β€œThese diamond recoveries from the EM/PK(S) domain of the South Lobe further validate the quality and potential of the Karowe Diamond Mine. Our team’s dedication to innovation and operational excellence continues to drive our success, and we look forward to delivering further value to our stakeholders.”


Swing Trading Ideas and Market Commentary

Need some new swing ideas? Get free weekly swing ideas and market commentary from Jonathan Bernstein here: Swing Trading.

Explore More

Weekly In-Depth Market Analysis and Actionable Trade Ideas

Get institutional-level analysis and trade ideas to take your trading to the next level, sign up for free and become apart of the community.