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.
The world’s second-largest diamond ever found, unearthed by Canada’s Lucara Diamond (TSX:LUC) in Botswana last year, will be going under some auction house’s hammer sometime before the summer in its rough form.
But there are many that don’t want to wait that long to get their hands on the gem, says Lucara CEO William Lamb, adding that the company has been contacted by collectors, with offers as high as $30 million.
“We will take the stone on a road show. The details around the road show are very secret because it is potentially the highest value item on the planet,” Lamb said in an interview with CBC’s The Exchange.
The huge diamond, named last month “Lesedi La Rona” or “our light” (in the Tswana language spoken in Botswana), will be sold in its rough form, Lamb said.
“Because of its historical significance, nobody can really say whether it’s more valuable in the polished form or the rough form. There will be collectors who will look to own the world’s largest uncut diamond,” he told CBC.
Lesedi La Rona is a type IIa diamond, second in size only to the Cullinan diamond in the British Crown jewels.
Botswana is the world’s largest producer of diamonds and the trade has transformed it into a middle-income nation.
(Images courtesy of Lucara Diamonds)
Comments
lee saydou kiwool
yes