Ecuador court gives green light for Silvercorp, Salazar’s El Domo project
The ruling removes the last major obstacle for the $250 million project, located 150 km northeast of Guayaquil.
Canada’s Lucara Diamond (TSX: LUC), has dug up a 2,492 carat diamond from its prolific Karowe mine in Botswana, the world’s second-largest stone ever mined in terms of size.
The “epic” diamond, as Lucara put it, was detected and recovered by the company’s Mega Diamond Recovery (MDR) X-ray Transmission (XRT) technology, installed in 2017 to identify and preserve large, high-value stones.
Lucara did not reveal the diamond’s gem quality, but its size — larger than a tennis ball and several times heavier — is only second to the 3,106 carat Cullinan diamond. The iconic precious stone was found in neighbouring South Africa in 1905 and became part of the British crown jewels once cut and polished.
“We are ecstatic about the recovery of this extraordinary diamond,” William Lamb, president and chief executive of Lucara said in a statement. “This find not only showcases the remarkable potential of our Karowe mine, but also upholds our strategic investment in cutting-edge XRT technology”.
The Karowe mine has produced several large diamonds in recent years, including the 1,758-carat Sewelô in 2019, the 1,109-carat Lesedi La Rona in 2015, and the 813-carat Constellation, also in 2015. The mine is also credited for having yielded Botswana’s largest fancy pink diamond to date, the Boitumelo.
The Vancouver-based miner presented the yet-to-be-named diamond to Botswana’s President Mokgweetsi Masisi on Thursday, who touted the giant stone as the largest diamond found in more than 100 years.
The African country is the world’s largest producer of diamonds and the trade has transformed it into a middle-income nation.
Karowe remains one of the highest-margin diamond mines in the world, producing an average of 300,000 high-value carats each year.
The three largest diamonds found at the Karowe mine:
