Lucara Diamond Corp. said it unearthed the stone — roughly the size of a tennis ball — at its Karowe project in Botswana, a mine renowned for its huge gems including the previous holder of the No. 2 position. Still, the company said the diamond is a near gem of variable quality, meaning it won’t yield incredibly valuable polished diamonds on par with earlier finds.
Lucara’s Karowe mine is becoming famous for giant stones. In 2015, Lucara found the 1,109-carat Lesedi La Rona, which at the time was the second-largest ever and eventually sold for $53 million. The mine has also yielded a 813-carat stone that fetched a record $63 million. Those two gems were both much more valuable Type-IIa stones.
Still, the latest find shows that Karowe’s plant can process and detect huge gems without breaking them, a consistent headache when trying to separate brittle stones from hundreds of tons of waste rock. “Karowe has now produced two diamonds greater than 1,000 carats in just four years, affirming the coarse nature of the resource and the likelihood of recovering additional, large, high quality diamonds in the future,” Eira Thomas, Lucara’s chief executive officer, said in a statement.The biggest diamond ever discovered is the 3,106-carat Cullinan, found near Pretoria in South Africa in 1905.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Business Maverick: Eskom `Is Not on the Brink of Financial Collapse,’ Gordhan SaysSouth Africa’s state-owned power utility “isn’t on the brink of financial collapse” and the government has the problem “well under control,” Public Enterprises Minister Pravin Gordhan said. Agreed. It is WAY beyond that already. Had it not been for its corrupt benefactor .............🤔
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: Department of Labour threatens to cancel Amcu’s registrationThere has long been speculation that the Association of Mineworkers and Construction Union was in the Department of Labour’s sights because of its failure to hold regular leadership elections and other regulatory transgressions. But its charismatic president Joseph Mathunjwa is unlikely to go down without a fight. About time, their Members have now suffered long enough!!!!! An organisation putting 2 million jobs at risk should bebanned from the workplace. 2 mil families suffered for 5 months due to their lack of ability to accept the status qou. No gain
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Tanzania denies blocking release of scathing IMF reportTanzania on Tuesday denied blocking the publication of a critical International Monetary Fund report that accuses President John Magufuli's government of undermining economic growth with 'unpredictable and interventionist' policies.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Tuesday, April 23: Five Things You Need to Know to Start Your DayOil market surges after Trump’s move to cut Iran’s crude exports, Samsung pulls its folding phone and Sri Lanka lays the blame for an Easter Sunday attack on local terror group. Here are some of this morning’s key stories.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: With a few exceptions, corporate SA has ditched the idea of funding political partiesWith a great flourish, SA’s political parties rushed through Parliament the Political Party Funding Act just prior to the start of the 2019 election campaign. It was transparently an attempt to look squeaky clean in a campaign sure to be dominated by the issue of corruption. Then the implementation of the legislation was delayed by the Electoral Commission of South Africa. The sigh of relief from donors and political parties alike was almost audible. But here is the thing: Corporate SA has largely moved on. It turns out very few are making contributions any more.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: Devil’s in the detail as government toys with regulating AirbnbEchoing calls to regulate ride-share platform Uber in South Africa, which has disrupted the taxi industry worldwide, has spilt over into the local tourism industry players, which have called for Airbnb to be regulated. The Department of Tourism has heard the cries, but not everybody is happy with the proposals.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: Shoprite’s R3.3bn payout proposal to Christo Wiese could easily be voted downWhen a company puts out an announcement involving R3.3bn on a Thursday afternoon before a long weekend, you have to wonder. And that is what the financial community has been doing about Shoprite’s proposal to pay its chairman R3.3bn for high voting-power shares with an actual monetary value of, well, nothing. There are some who think it’s a deal worth doing, but some significant shareholders on Tuesday said, very firmly, they would be voting against the proposal. The deal could very easily fail. Former Steinhoff Chairman Christo (I know nothing, I am the victim) Wiese who presided over the biggest financial disaster in SA, should all his assets frozen NOW. It will be immoral not to vote this down, otherwise you are all accomplices
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Saudis Pledge to Ensure Oil Supply if Iran Exports CollapseSaudi Arabia will coordinate with other crude producers to ensure that adequate supplies are available and the market “does not go out of balance,” Energy Minister Khalid Al-Falih said, after the U.S. ended waivers for buyers of Iranian oil.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Asian shares up after Nasdaq, S&P 500 hit record highsEquity markets in Asia rose on Wednesday morning after upbeat earnings helped the Nasdaq and S&P 500 indexes reach record closing highs on Wall Street overnight, while oil retreated from its near six-month highs.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Reported Fires Threaten China’s Electric-Car QuestIn China, where the quality and safety of electric vehicles and their batteries have been increasingly called into question, electric cars bursting into flames have underscored longstanding issues with China's electric-vehicle push, writes Adam Minter for Bloomberg Opinion.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK ANALYSIS: Central banks’ musical chairs put independence up for grabsA changing of the guards at central banks around the world at a time when the value of both political and operational central bank independence is up for debate could yield some surprises. History shows these can be pretty dramatic as tensions run high between presidents and bank governors.
Source: dailymaverick - 🏆 3. / 84 Read more »