Falcon Metal Resources Botswana: Lucara's P700 Million Diamond Haul Reinforces Botswana's Gemstone Prowess

Botswana's reputation as a leading source of high-quality diamonds has been further cemented by Lucara Diamond Corp.'s recent sale of two exceptional stones, the 1,080-carat Eva Star and the 549-carat Sethunya.  This impressive $54 million (approximately P700 million) transaction underscores the continued productivity and remarkable mineralogy of the Karowe Mine.

 

Falcon Metal Resources Botswana recognizes the significance of such discoveries for the nation's economy and its standing in the global diamond market.  Lucara's success highlights the potential of Botswana's mineral wealth and the importance of responsible and sustainable mining practices.

 

The sale of these two extraordinary diamonds, Sethunya recovered in 2021, and the more recently discovered Eva Star, showcases the Karowe Mine's unique ability to consistently yield Type IIa diamonds of exceptional size and clarity.  This characteristic, as noted by Lucara President and CEO William Lamb, is "truly unprecedented in the industry."  The consistent recovery of such high-value stones solidifies the Karowe Mine's position as a world-class diamond producer.

 

The financial details of the transaction reveal the substantial value these gems command.  Lucara had previously received $20 million for the diamonds and received a further $24 million following the sale. This payment was structured in two installments, with $16 million received in Q4 2024 and the remaining $8 million in Q1 2025.

 

For Botswana, this multi-million pula windfall represents a significant boost to the economy.  It serves as a reminder of the country's rich natural resources and the potential for further discoveries.  Companies like Lucara, with their focus on innovation and operational excellence, play a crucial role in unlocking this potential and contributing to Botswana's economic growth.

 

Falcon Metal Resources Botswana acknowledges the importance of the mining sector to the nation's development and supports initiatives that promote sustainable and responsible resource management. The success of Lucara Diamond Corp. serves as an inspiration and reinforces the potential for further growth and prosperity within the Botswana mining industry.  This sale not only benefits Lucara but also contributes to Botswana's overall economic landscape, showcasing the country's position as a key player in the global diamond market.