Lucara Diamond Corp.
Other OTCCapital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- CEO
- William Lamb
- Full Time Employees
- 601
- Sector
- Basic Materials
- Industry
- Other Precious Metals
- Address
- 1250 Homer Street Vancouver BC Canada V6B 2Y5
- IPO Date
- Apr 6, 2011
- Website
- lucaradiamond.com
- Similar Companies
- Business
- Lucara Diamond Corp. is a Canadian diamond mining company engaged in the development and operation of diamond properties in Africa, primarily through its 100% ownership of the Karowe mine in Botswana. The company’s core products include large, high-quality Type IIA diamonds, with notable recoveries such as the 2,488-carat Motswedi, the 1,109-carat Lesedi La Rona, and the 813-carat Constellation. Lucara also operates the Clara digital sales platform for rough diamonds, although this platform was sold in October 2024 to streamline operations. The company specializes in the mining and sale of exceptional-sized diamonds, targeting gem-quality stones exceeding 10.8 carats, which historically account for a significant portion of its revenues. Founded in 1981 and headquartered in Vancouver, Canada, Lucara has expanded its presence with exploration projects in Botswana, Angola, and an exploration joint venture in Lesotho. Recent major developments include the recovery of two exceptional diamonds in 2024—the 2,488-carat Motswedi, the largest diamond found in the last century, and the 1,094-carat Seriti—demonstrating the mine's outstanding value and Lucara's mining expertise. The company achieved record diamond production and revenue growth in 2024, with sales reaching $203.9 million, an 18% increase from the previous year. Lucara advanced its Karowe Underground Project with significant shaft sinking and lateral development, aiming for commercial production by early 2028 to extend the mine's life to 2040. In February 2024, it entered a new 10-year diamond sales agreement with HB Antwerp to market all diamonds above 10.8 carats qualifying for manufacturing, strengthening its revenue pipeline. Additionally, Lucara awarded the lateral development contract for the Karowe underground project to Group R, furthering its operational expansion. The company is part of the Lundin Group of Companies and trades on the TSX, Nasdaq First North Growth Market, and the Botswana Stock Exchange. Lucara operates within the highly specialized diamond mining industry, focusing on the extraction, processing, and sale of world-class diamonds, mainly in Botswana, with additional exploration interests in Southern Africa. Its products and operations serve the gemstone and industrial diamond sectors, leveraging advanced mining and processing technologies to maximize diamond value and sustain long-term production. Lucara's business model centers on responsible mining practices, innovation in diamond recovery, and digitally enabled sales channels to enhance provenance and market reach. This comprehensive operational and strategic profile reflects Lucara Diamond Corp.'s position as a leading producer of exceptionally large and valuable diamonds, driving ongoing growth through exploration, technological innovation, and key commercial partnerships in the diamond mining sector.
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