AuctionsNov 20, 2025
Vanderbilt Jewels Shine at Phillips Sale, Pink Diamond WithdrawnA 43-carat sapphire brooch from the Vanderbilt collection was the top lot of the Geneva sale.
SourcingFeb 25, 2020
Lucara Found 31 Diamonds Over 100 Carats Last Year
Recoveries included the 1,758-carat Sewelô diamond, which it is cutting in partnership with Louis Vuitton.
This is one of the 100-carat-plus diamonds recovered by Lucara Diamond Corp. in 2019. Found in February 2019, it weighs 223 carats.
Vancouver, British Columbia—Sales climbed 9 percent in 2019 for Lucara Diamond Corp. and it again recovered more than 30 stones weighing more than 100 carats from its Karowe mine in Botswana.
Total revenue for the Vancouver-based mining company for the year ended Dec. 31 totaled $192.5 million, or $468 per carat (2018: $502 per carat), topping guidance of $180 million.
Net income for the year reached $12.7 million, up from $11.7 million in 2018.
Lucara said it was a record year for production through the plant at Karowe.
Total tons mined reached 9.8 million, in line with a forecast of 9.5-10.9 million, and ore processed totaled 2.8 million tons, at the top end of its guidance, while 433,060 total carats of diamonds were recovered, exceeding its forecast of 425,000 carats.
Karowe called 2019 “another strong year” for the recovery of what it refers to as “Specials,” single diamonds in excess of 10.8 carats.
The mining company said it recovered 786 of these stones totaling 24,424 carats from direct milling ore in 2019, down 5 percent from 829 Specials in 2018. It also recovered Specials in tailings, including a 375-carat diamond in the third quarter.
Among these big stones were 31 diamonds in excess of 100 carats—on par with the 33 diamonds it found in this size range last year—including two stones weighing more than 300 carats.
The most notable among them—the 1,758-carat diamond dubbed the Sewelô, which Lucara is cutting in partnership with Louis Vuitton and Antwerp-based diamond manufacturer HB Company.
RELATED CONTENT: Louis Vuitton Wants to Turn This Dark Diamond Into Jewelry
In the news release announcing the company’s results, Lucara President and CEO Eira Thomas called the agreement with the iconic fashion house “groundbreaking.”
“In 2019, Lucara also continued to explore ways and means to maximize the value it receives for its diamonds,” she said.
“Our groundbreaking agreement with Louis Vuitton in January 2020 is another example of how we are delivering on this commitment. Through this agreement, we will demonstrate that greater collaboration within the supply chain can unlock value and increase transparency from mine to consumer.”
In addition, Clara, Lucara’s blockchain-based digital sales platform, completed its first year of operations, with a total of 15 sales, 27 customers and sales volume of $8.4 million. The company said the platform is “poised to achieve significant growth” this year, as it adds more customers and producers.
Thomas characterized
the company’s 2019 results as strong and said the company has a “solid foundation” for its next stage of growth, the underground expansion of Karowe, which is expected to extend the mine’s life to 2040.
In 2020, Lucara expects diamond revenue to total $180-$210 million as the proportion of carats recovered from higher-grade units increases, and to recover between 370,000 and 410,000 carats of diamonds.
In 2020, Lucara expects diamond revenue to total $180-$210 million as the proportion of carats recovered from higher-grade units increases, and to recover between 370,000 and 410,000 carats of diamonds.
More on Sourcing
The Latest
CollectionsNov 20, 2025
Rebecca Rau Jewels Debuts With ‘Then & Now’ CollectionRau is a fourth-generation art and antique dealer from M.S. Rau gallery whose first jewelry collection merges artifacts with modern design.
Policies & IssuesNov 20, 2025
RJC Names New Executive DirectorFormer De Beers sustainability leader Purvi Shah will take over the role in February 2026.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
WatchesNov 20, 2025
LVMH Takes Minority Stake in Citizen Group-Owned Movement Maker La Joux-Perret is based in La Chaux-de-Fonds, Switzerland, and makes solar quartz as well as mechanical watch movements.
Weekly QuizNov 20, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
GradingNov 20, 2025
Julia Griffith Joins SSEF as Head of EducationShe previously taught at Gem-A and is the founder of The Gem Academy.
CollectionsNov 19, 2025
Larkspur & Hawk Celebrates 25 Years With Helena Bonham Carter CampaignThe British actress and her daughter modeled pieces from the brand’s new “Palette” capsule for its “Once Upon a Time” holiday campaign.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
TechnologyNov 19, 2025
Google Has a New Form for Reporting ‘Review Bombing’ Attacks Plus, the tech giant shares the steps retailers should take if they believe they’re a victim of a review extortion scam.
IndependentsNov 19, 2025
Houston Jeweler Keith Shaftel Retires, Next Generation Steps In Danny and Gaby Shaftel are now Shaftel Diamonds’ CEO and chief operating officer, respectively.
TrendsNov 19, 2025
Midas Chain Releases 2025 Holiday Style GuideThe jewelry manufacturer’s seasonal offering features its new “Melodie” bangles, as well as mini stud earrings and layering pieces.
Events & AwardsNov 18, 2025
NYC Jewelry Week 2025: 12 Must-See EventsWith more than 140 activations taking place in New York City now through Nov. 23, these 12 events are can’t-miss moments.
MajorsNov 18, 2025
Lugano Diamonds Files for Bankruptcy, Looking for BuyerThe Chapter 11 filing follows the resignation of CEO Moti Ferder, who stepped down after an investigation into the company’s finances.
Events & AwardsNov 18, 2025
A Giant, Bejeweled Moldy Berry Is on Display in LAThe artwork is part of an exhibition featuring works by Kathleen Ryan, an artist known for her gemstone-studded rotting fruit sculptures.
CrimeNov 17, 2025
Police Searching for 2 Suspects in Murder of Father, Son Jewelers Faustino Alamo Dominguez and his son, 25-year-old Luis Angel Alamo, were gunned down following an armed robbery at their jewelry store.
GradingNov 17, 2025
IGI Announces New President of North AmericaTiffany & Co. veteran Jeffrey Bennett has stepped into the role.
MajorsNov 17, 2025
Look Inside Robbins Brothers Fine Jewelers’ New Pasadena FlagshipThe showroom is located in a historic 1920s building in the Playhouse District.
Policies & IssuesNov 14, 2025
U.S., Switzerland Reach Deal That Drops Tariff to 15%The Swiss government announced the deal, which cuts the tax on Swiss imports by more than half, on social media Friday morning.
AuctionsNov 14, 2025
Napoleon’s Diamond Brooch Blows Away Auction Estimates A buyer paid $4.4 million for the piece, which Napoleon wore on his hat for special occasions and left behind when he fled Waterloo.
FinancialsNov 14, 2025
Richemont’s Q2 Jewelry Sales Up 12%Plus, how tariffs and the rising price of gold are affecting its watch and jewelry brands.
CollectionsNov 14, 2025
Piece of the Week: Silvia Furmanovich’s ‘Butterflies in Flight’ Jewelry BoxFurmanovich designed the box to hold Mellerio’s “Color Queen,” a high jewelry collection consisting of 10 rings.
Events & AwardsNov 14, 2025
JCK Names New Event DirectorJennifer Hopf, who has been with JCK since 2022, will lead the execution of the long-running jewelry trade show.
IndependentsNov 13, 2025
127-Year-Old New Orleans Jeweler to CloseAdler’s Jewelry is set to close its two stores as 82-year-old owner Coleman E. Adler II retires.
IndependentsNov 13, 2025
Green Lake Jewelry Works to Move to New Seattle StudioFounder Jim Tuttle shared how a dedication to craftsmanship and meaningful custom jewelry fueled the retailer’s double-digit growth.
MajorsNov 13, 2025
Vahan Jewelry Founder Leon ‘Sacha’ Der Calousdian Dies at 85The third-generation jeweler is remembered as a passionate creative with a love of art, traveling and sailboat racing.
CrimeNov 12, 2025
Father, Son Jewelers in Chicago Victims in Double Homicide JSA and Cook County Crime Stoppers are both offering rewards for information leading to the arrest of the suspect or suspects involved.
AuctionsNov 12, 2025
‘Mellon Blue’ Diamond Sells for $7M Less Than It Did a Decade AgoA buyer paid $25.6 million for the diamond at Christie’s on Tuesday. In 2014, Sotheby’s sold the same stone for $32.6 million.
