Canada’s Lucara Diamond Corporation recently unearthed the largest rough diamond in more than 100 years at the Karowe mine in Botswana, larger than a tennis ball.
The 1,758-carat rough weighs nearly 352 grams and is the second-largest rough in the world, behind the Cullinan Diamond discovered in South Africa in 1905, Lucara claims.
With the discovery, shares of Lucara jumped 11.4% to their highest in more than two months, before closing April 25 up 6.3% at .68. according to Reuters.
The 1,758-carat rough weighs nearly 352 grams and is the second largest rough diamond in the world. (Photo: Reuters).
The massive rough diamond is the latest discovery on the Canada-based company’s list of gems. Since the launch of XRT diamond recovery technology, Lucara has recovered 12 diamonds over 300 carats, including one 472 carat and one 327 carat in April 2018.
The 1,109-carat Lesedi La Rona diamond, restored by Lucara in November 2015, disappointingly failed to sell at the June 2016 auction, adversely affecting the company’s stock. Finally, diamond dealer AnhGraff Diamonds acquired Lesedi La Rona for million in September 2017.
According to Forbes magazine, by the end of 2018, Graff had created 67 finished gems from Lesedi La Rona diamonds.