MDCB begins studying Lucara equity deal :: Mmegi Online

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.

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MDCB begins studying Lucara equity deal

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.

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