- Business
- Lucara Diamond Corp. is a Canadian diamond mining company that owns and operates the 100% owned Karowe Mine in Botswana, one of the world's foremost producers of large, high-quality Type IIA diamonds in excess of 10.8 carats, including historic recoveries such as the 2,488-carat Motswedi, 1,758-carat Sewelô, 1,109-carat Lesedi La Rona, and 813-carat Constellation. The company produces and sells rough diamonds through multiple channels, including a 10-year sales agreement with HB Antwerp for all qualifying +10.8 carat diamonds priced based on estimated polished outcomes and actual sales top-ups; regular tender auctions; and previously the Clara digital sales platform utilizing blockchain and analytics for provenance and efficiency, which was sold in October 2024 to streamline operations. Founded in 2007 and headquartered in Vancouver, British Columbia, with key operations in Gaborone, Botswana, Lucara focuses on the African diamond segment targeting high-value gem markets globally, while advancing the Karowe Underground Project to extend mine life to 2040 with commercial production targeted for H1 2028. Recent developments include record 2024 operational performance with 389,017 carats recovered from 2.9 million tonnes processed; execution of a lateral development contract with Group R Mining and Exploration Botswana in December 2025 for the underground project; completion of production shaft sinking in July 2025; a $10 million drawdown in August 2025 from shareholder Nemesia's funding facility maturing in 2031; transition to Nasdaq First North Growth Market trading effective January 31, 2025; and ongoing Q3 2025 recoveries such as a 1,015-carat non-gem and 37.42-carat pink Type IIa diamond.