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Lucara Diamond exceeds targets for Karowe mine

Lucara Diamond Corp. said Dec. 8 that it more than fulfilled the objectives for its Karowe mine in Botswana, exceeding US$1.0 billion in accumulated sales since the start of production in June 2012.

The company posted revenue of US$66.1 million at US$743 per carat for the fourth quarter, including an exceptional stone tender held in November.

Total revenue at the end of 2016, including the Constellation diamond sale, is expected to be US$295 million at US$823 per carat. Revenue, excluding the sale, is at US$232 million at US$649 per carat.

Lucara sold 14 exceptional stones at more than US$2 million per stone. The company also sold 20 exceptional stones between US$1 million and US$2 million per stone.

Karowe has yielded 1.8 million carats, generating revenue of US$1.02 billion at US$566 per carat to date.

In addition, the company said the mine surpassed the 5,000,000 Lost Time Injury free hour mark.