Lucara weighs options over 1,758-carat wonder

Lucara Diamond Corporation is mulling over the best ways of marketing and selling its latest discovery, a 1,758-carat diamond that is amongst the largest found in history.

Two years ago the Canadian outfit sold its world-breaking tennis ball-sized Lesedi La Rona diamond to British Jeweller Graff Diamonds for $53 million.  The 1,109 carat uncut stone dug up at Karowe in Boteti sub district, had been expected to fetch far higher, given $70 million reserve price.

Lucara insiders at the time told BusinessWeek that industry villains had conspired to undercut Lesedi La Rona’s price to their benefit, staging an auction-floor ambush. This week, Lucara managing director, Naseem Lahri stressed that the importance of understanding the market would be key to selling the latest giant stone.

Editor's Comment
Happy Independence!

We are 56 years old and what do we have to show for it? Looking at where Botswana started and where it is today, there are a lot of developments, but whether the developments match the number of years we have enjoyed as a country is a topic for another day.The fact that cannot be denied is we have seen major developments, but we are still lacking in several pertinent areas.Our beautiful country imports almost everything. We import fuel, food,...

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