A 1,758 carat diamond recovered from Lucara Diamond Corp.'s Karowe Mine in Botswana. Reuters
The 1,758-carat diamond, larger than a tennis ball, weighs close to 352 grammes, Lucara said in a statement. The stone is second in size only to the 3,106-carat Cullinan diamond, recovered in South Africa in 1905.
A 1,758 carat diamond recovered from Karowe Diamond Mine in Botswana. Reuters
Lucara's shares rose as much as 11.4% to the highest in more than two months, before closing up 6.3% at C$1.68. The Toronto stock benchmark ended the day marginally lower.
The stone is the latest in a series of high-value recoveries for the Vancouver-based company at Karowe. Since introducing its XRT Diamond recovery technology, Lucara has recovered 12 diamonds over 300 carats, the company said, including a 472-carat and a 327-carat diamond in April 2018.
The 1,109-carat "Lesedi La Rona," which Lucara recovered in November 2015, failed to meet its undisclosed reserve price at a June 2016 auction, putting pressure on the company's shares. British Diamond dealer Graff Diamonds finally bought it for $53 million in September 2017.
Forbes reported late last year that Graff had created 67 finished gems from the stone.
President Donald Trump on Friday announced a deal to lift US tariffs on steel and aluminium imports from Canada and Mexico that had created friction between the neighbors and blocked a new North American free trade agreement.
Venezuelan security forces fired tear gas on Saturday to disperse demonstrators who turned out in Caracas to protest massive power outages that have kept much of the country in darkness since early March. AFP journalists on the scene said the security forces blocked opposition protesters from concentrating at certain points in the western side of the city.
Donald Trump's administration announced Tuesday it was speeding up plans to send US astronauts back to the Moon, from 2028 to 2024, calling for a "spark of urgency" to prevail over delays that have plagued NASA's lunar return plans.
Custodian of the Two Holy Mosques and Saudi Arabia’s King Salman Bin Abdulaziz Al Saud has called the leaders of the Gulf Cooperation Council (GCC) member states as well as the heads of states of Arab League countries for two extraordinary summits in the Holy City of Makkah on May 30, to look into the recent acts of sabotage against commercial vessels off the UAE waters and the dual terrorist attacks against two Saudi pumping stations, and their consequences on the region.
Ajman University Chancellor Dr Karim Seghir, and French Ambassador to the UAE Ludovic Pouille with the staff of Alliance directed by Bernard Frontero opened the “Alliance Française Ajman” (AFA) Centre on Sunday morning at Ajman University, Student Hub.
Dr Thani Bin Ahmed Al Zeyoudi, UAE Minister for Climate Change and Environment, represented the country on a global stage on Sunday at the Cannes Film Festival 2019 for a different kind of accolade, albeit one still linked to the environment.
In line with the Dubai Silk Road Strategy, the promotion of Chinese Alternative Medicine (CAM) and (TCM) in Dubai was sealed with the formal launch on Sunday at the Mohammed Bin Rashid Academic Medical Centre of the Dubai Healthcare City (DHC) free zone.