Bounty of riches for Lucara Diamonds at Karowe

This one, a 472 carat light brown stone, is reckoned to be the third largest ever recovered at the state-of-the-art mine, which was only comissioned in 2012 and has quickly become one of the biggest producers of diamonds in the world.

The Vancouver-based mining company acquired the Karowe Diamond Mine from De Beers in 2009  when after 40 years of mining small and low grade diamonds at the site, the world's leading diamond company decided that  "smaller mines do not fit into De Beers' global production portfolio, which is focused on large-scale projects that deliver superior rates of return and the right production volumes". 

The deal was completed for US $49 million and since then, after significant investment in the mine, Lucara have unearthed a succession of jackpot finds.

In 2016, they found and sold the most expensive rough gem on record, the 813ct Constellation for US$63 million and last year uncovered the largest stone ever found at Karowe, the 1,109ct Lesedi La Rona which went on to sell for US$53 million. 

This year alone they have found 218 diamonds of more than 10.8 carats, including four that have been more than 100 carats each. The revenue estimate from the Karowe mine in 2018 is expected to be more than  US$200 million.

Brown-coloured diamonds have traditionally sold for less at auction but the size of this one is expected to turn the form book on its head which will mean a frenzy of interest when it goes to market later this year.