- Company sets timeline of 3 months to a year to determine value of the diamond
- Interest aplenty but Lucara wants to take time due to impact and provenance of the stone
BONGANI MALUNGA
It will take between three months to a year to determine the definite value of the record setting 2,492-carat diamond that was unearthed from Lucara’s Karowe Diamond Mine last month, the Canadian diamond miner has said.
According to Lucara Diamond, it is in no rush to determine and disclose the value of the world’s second largest diamond ever discovered.
The yet-to-be named diamond has gained international media attention in the last two weeks, with many eager to establish its true value.
Provenance
Lucara’s Managing Director, Naseem Lahri, made the “no-hurry” remarks when interviewed by global publication Forbes’ African wing, Forbes Africa. She told the publication that they are taking a patient approach before disclosing the value of their latest find.
“We are not in a hurry at this point in time,” she said. “We don’t want to make any mistake, especially looking at the impact of the stone, the provenance and the way it is sold.
“We really want to make the best of this. For us the first step is to look at the provenance and to market the provenance and to show people that natural diamonds bring a lot of benefit to the communities and the country itself.”
Plenty of interest
Lahri acknowledged that the huge media coverage has yielded in the precious stone but was adamant that their pursuit of a cautious approach supersedes outside interest.
She also mentioned that the size of the unearthed stone is something that the synthetic diamond market cannot offer.
“Everybody will definitely be interested in something of that historical magnitude,” she asserted. “You will never get a lab grown diamond of this size – it will never happen. These are natural diamonds coming out of the ground – from Mother Earth.”
The narrative must change
According to Lahri, the patient approach has been taken to ensure that the analysis of the diamond takes into consideration the impact its sale will have on the company and the country’s economy.
The Lucara MD also noted that the discovery of the diamond in a conflict-free environment is a story that needs to be told. “We want to change the narrative on natural diamonds,” she emphasised.
“They are not conflict diamonds. They actually benefit the communities that the diamonds are recovered in. The diamonds of Botswana benefit every citizen.”