Lucara recovered this apparently bicolored 37.42-carat pink Type IIa diamond last month at its Karowe mine in Botswana.
Vancouver, British Columbia—Lucara Diamond Corp. has announced the recovery of an unusual pink Type IIa diamond.
The 37.42-carat diamond, unearthed last month at its Karowe mine in Botswana, is near gem-quality and appears to be bicolored.
The majority of the stone is pink, while a small portion looks to be partially colorless.
The diamond is “a rare and remarkable find,” according to HB Antwerp, the diamond cutting and technology company that has a partnership with Lucara.
Manufacturer HB Antwerp, which announced its acquisition of the pink diamond on Tuesday, said the stone showcases “an intensity of color unseen in the market today.”
“This stone has the potential to become one of the most important pink diamonds ever polished,” said Oded Mansori, co-founder of HB Antwerp.
“Its intensely rich coloration is a testament to the geological uniqueness of the Karowe mine, and our deep understanding of the manufacturing process will allow us to capture its vibrant color to the fullest extent possible.”
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Also in August, Lucara recovered a 1,019.85-carat non-gem-quality diamond.
Like the pink diamond, this giant chunk of rough was recovered from Karowe’s EM/PK(S) area, which has historically produced large diamonds.
The nearly 1,020-carat diamond is the ninth diamond weighing more than 1,000 carats to come out of Karowe, Lucara said, and the third of that size found in 2025.
It was discovered via Lucara’s “Mega Diamond Recovery” unit, the X-ray transmission technology that enables the miner to identify and preserve large, high-value diamonds.
The tech was installed at Karowe’s processing plant in 2017 and is credited with detecting the 2,492-carat diamond Lucara found in August 2024—the second-largest rough diamond ever discovered.
Also this week, the mining company announced a $10 million drawdown on its $63 million standby loan from Nemesia, its largest shareholder, in order to address a funding shortfall for its underground project at Karowe.
The $683 million project, which hit a snag in 2023, is supposed to be done by the first half of 2028 and will extend the life of the mine until at least 2040.
For each $500,000 drawn, Lucara will issue 7,500 common shares per month to Nemesia until the amounts borrowed are repaid, with the shares being settled on a quarterly basis, the miner said.
Lucara President and CEO William Lamb said the decision represents a “prudent” approach to maintaining financial flexibility during the current period of ongoing capital expenditures related to going underground at Karowe.
“This funding mechanism demonstrates the continued confidence and unwavering support of our major shareholders in Lucara’s long-term strategy and the exceptional value potential, including the ongoing recovery of the world’s most significant diamonds from our Karowe mine,” he said.
