MDCB begins studying Lucara equity deal

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The Minerals Development Company Botswana (MDCB) has begun due diligence on a possible stake in Lucara Diamond Corp, a deal that would move government closer to the diamond wonders the company regularly uncovers at Karowe.

Lucara is famous for discovering the 1,109-carat Lesedi la Rona and the 813-carat Constellation in 2015, before unearthing an 1,758-carat stone that is yet to be named earlier this year. Lesedi la Rona was sold for US$53 million (P566 million at current rates) in 2017, while Constellation became the highest ever-selling single rough diamond going for U$63.1 million (P673 million) in 2016.

From its commissioning in mid-2012, Lucara’s Karowe Mine, located in the Boteti sub-district, has become one of the world’s biggest producers of large diamonds, with 187 of its diamonds selling for US$1 million each (P10.7 million) and 10 single diamonds selling for more than US$10 million (P100.7 million) each.

Editor's Comment
Botswana deserves ideal political leaders

This remains to be seen, particularly as opposite unity has been seeing its ups and downs. In 2012, three opposition parties namely the Botswana National Front (BNF), the Botswana Movement for Democracy (BMD), and the Botswana National Front (BNF) formed a political alliance under the Umbrella for Democratic Change (UDC). The Botswana Congress Party (BCP) would, after rebuffs, join the coalition in 2017.The promise made by the coalition to its...

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