Karowe output falls

According to Lucara diamonds, although the carat output declined in the period, ore recovery was better than expected and that it achieved a higher average grade of 20.8 carats per hundred tonnes (cpht), compared to 17.6 cpht a year earlier. In a statement, the company noted that its recovery of large stones above 10.8 carats was lower than the previous quarter as production focused on the north lobe of the Karowe mine, which has historically produce fewer special stones. Operations are currently focused on waste mining to open up access to the richer south lobe. 

In the quarter, Lucara still managed to recover 126 special stones at Karowe during the quarter at an average size of 30.71 per carat. The company held one large stone tender during the period, which generated $46.1 million, or $27,555 per carat, helping lift the overall average price achieved. Lucara reported that the average price of goods sold rose 44 percent to $791 per carat.