Lucara sells tennis-ball sized diamond for $65.6 million

The 813-carat Constellation was also sold in May 2016 for US$63.1 million

A Vancouver-based mining company has sold a tennis ball-sized diamond to a luxury jeweller for US$53 million, or about C$65.6 million.

The 1,109-carat Lesedi La Rona rough stone is reputed to be one of the largest gem-quality diamonds ever discovered.

Lucara Diamond Corp. (TSX:LUC) says the price was above the highest bid attracted at an auction in June 2016. But it was below a Southeby’s estimate of US$70 million before last year auction.

It was also less than fetched by a smaller diamond, the 813-carat Constellation, that Lucara sold in May 2016 for US$63.1 million — about C$78.3 million at current exchange rates.

Diamond merchant Laurence Graff says the natural beauty of the Lesedi La Rona will be respected when the rough stone is cut.

“The stone will tell us its story, it will dictate how it wants to be cut, and we will take the utmost care to respect its exceptional properties,” Graff said in a joint statement issued with Lucara.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Just Posted

Pandora supervised consumption site has busy first month

Site whose aim is to save lives takes on a new client-driven name: The Harbour

Victoria’s plastic bag ban inspires local entrepreneur to give back

Karebags a local, collaborative alternative for reusable bags, donates profits to charity

Project provides barrier to suicides at hospital parkade

VIHA budgets $650,000 for work at Royal Jubilee Hospital parkade

Our Place celebrates Christmas in July

Afternoon barbecue serves up turkey burgers and Santa hats under the hot sun

Pedestrian struck on Quadra Street

A pedestrian was struck by a vehicle on Quadra Street at Hulford… Continue reading

VIDEO: Trudeau shuffles familiar faces, adds new ones to expanded cabinet

Justin Trudeau shuffles his front bench Wednesday to install the roster of ministers that will be entrusted with leading the Liberal team into next year’s election.

Lower Mainland blueberry farms expect solid season

Blueberry Council of B.C. says season will be better than last year

B.C. to add hundreds of taxis, delays Uber, Lyft-style service again

Ride hailing companies have to wait until fall of 2019 to apply for licences

BC Summer Games ready to begin on Vancouver Island

More than 2,000 athletes will compete in 18 sports from Friday to Sunday

Plenty of heroes in Thai cave rescue, says B.C. diver

Erik Brown reflects on team effort that brought 12 boys and their coach to safety

Funding available to replace infected B.C. hazelnut trees

B.C. Hazelnut Growers to recieve $300,000 over three years to battle eastern filbert blight

Woman charged after eight dogs seized from hotel room

Sixteen dogs recently seized from Adams and her daughter in Quesnel

Owner of B.C. fruit stand recounts ‘flames popping up everywhere’ from wildfire

The Mount Eneas wildfire is burning at about 200 hectares south of Peachland

Ontario, Saskatchewan premiers join together to oppose federal carbon plan

Saskatchewan is already involved in a court case over the tax

Most Read