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374ct. Diamond Fragment Fetches $17.5M

Stone fell off 1,109-carat rough during production.
May 14, 2017 6:46 AM   By Rapaport News
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RAPAPORT... 
Lucara Diamond Corporation has sold a stone that was originally part of the second-largest rough diamond in history for $17.5 million.

The 373.72-carat rough, which broke off the Lesedi La Rona diamond during the production process, fetched $46,935 per carat at Lucara’s exceptional-stone tender, the company reported last week. As a whole, the sale event brought in $54.8 million from 15 rough diamonds totaling 1,765.72 carats, at an average price of $31,010 per carat.

The Lesedi La Rona, discovered at Lucara’s Karowe mine in Botswana in November 2015, weighs 1,109 carats, but would have been closer to 1,500 carats had it not broken into two pieces, Lucara CEO William Lamb said in May last year.

The larger stone, minus the 373.72-carat fragment, failed to sell at a Sotheby’s auction last June and is still in Lucara’s inventory. The company hopes to sell it in the first half of this year, Lamb told Rapaport News in December.

Other items that found buyers at the exceptional-stone tender included seven diamonds that netted more than $2 million each, and a further three that sold for more than $4 million each. These included a 182.47-carat rough, which garnered $6.3 million, or $34,526 per carat.

“Karowe continues to deliver strong, consistent results from its regular and exceptional tenders, demonstrating the robust nature of the ore body and the predictable contribution from large, high-value diamonds,” Lamb said last week.

Image: Donald Woodrow
Tags: Botswana, exceptional-stone tender, Karowe mine, large diamonds, Lesedi La Rona, lucara, Lucara Diamond Corp, mining, Rapaport News, rough diamond, William Lamb
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