Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Lucara’s Karowe diamond mine in Botswana.
Canada’s Lucara Diamond (TSX: LUC) has added to the excitement of huge gems being found in the past few months by announcing the recent recovery of a number of exceptional diamonds at its Karowe mine in Botswana.
The latest finds includes a “spectacular” Type IIa, 336 carat diamond as well as other three “exceptional” stones, the company said in a statement.
The Vancouver-based miner also announced it has unearthed a 12-carat pale pink diamond, which exact colour and details will confirm once it finishes cleaning it.
Since the recovery of the first large diamond from the Karowe mine in 2013, Lucara has found 216 gems, which it has sold for more than $250,000 each. Twelve of those diamonds fetched over $5 million each, the company said.
