Lucara Diamond

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Lucara Diamond Corp.
Public
Traded as TSX: LUC
Industry Mining
Founded 2004
Headquarters Suite 2000 885 West Georgia Street, Vancouver, BC, Canada
Key people

Lukas H. Lundin (Chairman and Director)
William Lamb

(President, CEO and Director)
Products Diamonds
Revenue $265.5 mln (2014)
$191.7 mln (2014)
$45.7 mln (2014)
Total assets $317.025 mln (2014)
Total equity $228.555 mln (2014)
Parent Lundin Group of Companies
Website www.lucaradiamond.com
Footnotes / references
[1]

Lucara Diamond Corp. (TSX: LUC) is a diamond exploration and mining company, operating in southern Africa[2][3] but established in Canada.[4] In November 2015, Karowe AK6, the world's second largest gem-quality diamond ever found, was found in one of the company's mines in Botswana.

Operations[edit]

Diamond mines and kimberlite fields in Botswana
  • Lucara owned a 40% share of the AK6 kimberlite project (now the Karowe mine) in Botswana. In October 2010, Lucara bought African Diamonds, giving it a 100% share in the mine.[5] The mine has an estimated $2.2Bn of diamonds.[6] AK6 is in the Orapa/Letlhakane district.[7]
  • Mothae diamond project in Lesotho: Kimberlite processing began in June 2010;[8] a 53.5 carat diamond has already been discovered.[9]
  • Kavango project in Namibia[10]
  • Planned mines, and applications for mining licenses, in Zimbabwe, Cameroon, and Botswana.[11]

Noted stones[edit]

On 18 November 2015, the company announced the discovery of the Karowe AK6, the world's second largest gem-quality diamond ever (second only to the 3,106 carat Cullinan).[12] The type IIa diamond[13] was found in the company's Karowe mine in north-central Botswana. The diamond weighs 1,111 carat and measures 65 by 56 by 40 mm (2.6 by 2.2 by 1.6 in). A day later, two more diamonds weighing 813 and 374 carat, were also found.[14] All the stones came from the AK6 pipe opened 18 months earlier, it has since yielded over 1 million carats of diamonds.[15] The company has previously found the 603 carat Lesotho Promise and a 341.9 carat diamond, the latter was sold in July 2015 for $20.6 million.[16]

Company structure[edit]

Chairman of the board since 2010 is Lukas H. Lundin, son of Adolf H. Lundin the founder of Lundin Mining and Lundin Petroleum. The president and CEO of Lucara is William Lamb.[17][18]

In March 2011, Lucara was reported to be discussing a merger with Gem Diamonds.[19]

After the discovery of the Karowe AK6, the company's shares went up 28%.[20]

See also[edit]

References[edit]

  1. ^ "MD&A and Consolidated Financial Statements - 2014" (PDF). 
  2. ^ "Lucara" (PDF). 2010-10-16. Retrieved 2010-10-31. 
  3. ^ "Lucara Diamond Corp. (LUC) – Financial and Strategic Analysis Review – a new market research". Retrieved 2010-10-31. 
  4. ^ "Lucara Diamond Corp. - Vancouver, British Columbia, Canada". 2010-08-22. Retrieved 2010-10-31. 
  5. ^ "Diamond deal for African mining company". This is Money. Retrieved 2010-10-31. 
  6. ^ "African Diamonds partner Lucara Diamond ups in situ value of AK6 to at least $2.2 billion – Proactiveinvestors (UK)". Retrieved 2010-10-31. 
  7. ^ "Lucara to Acquire 100% of AK6 Diamond Project in Botswana". Market Wire. 2010. Retrieved 2010-10-31. 
  8. ^ "Diamonds.net News – Lucara Begins Production at Lesotho Diamond Mine". Retrieved 2010-10-31. 
  9. ^ "Lucara Recovers 53.5 Carat Diamond at Mothae Mine, Lesotho". Retrieved 2010-10-31. 
  10. ^ "Namibia – Kavango Project". Retrieved 2010-10-31. 
  11. ^ "Mining Journal – Lucara bids for African Diamonds". Retrieved 2010-10-31. 
  12. ^ "Second largest gem quality diamond ever found recovered in Botswana". www.telegraph.co.uk. The Telegraph. Retrieved 19 November 2015. 
  13. ^ News release. "Lucara makes diamond history recovers 1,111 carat diamond" (PDF). www.lucaradiamond.com. Lucara Diamond. Retrieved 20 November 2015. 
  14. ^ "News". www.lucaradiamond.com. Retrieved 20 November 2015. 
  15. ^ Cornish, Laura (27 May 2015). "Lucara Diamonds looks for buyers for 342 carat in July exceptional stone tender". www.miningreview.com. Spintelligent (Pty) Ltd. Retrieved 20 November 2015. 
  16. ^ Crowley, Kebin; Biesheuvelpattern dots, Thomas (19 November 2015). "Biggest Diamond in More Than a Century Unearthed in Botswana". www.bloomberg.com. Bloomberg Businessweek. Retrieved 20 November 2015. 
  17. ^ "People: Lucara Diamond Corp". Reuters. Retrieved 20 November 2015. 
  18. ^ "Lucara Diamond - Management". Lucara Diamond Corp. Retrieved 20 November 2015. 
  19. ^ "Gem Diamonds in talks with Lucara". Mining Journal. Retrieved 2011-03-27. 
  20. ^ MacDonald, Alex (19 November 2015). "World’s Second-Largest Diamond Discovered in Botswana". www.wsj.com. Wall Street Journal. Retrieved 20 November 2015. 
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