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Lucara nets  $54m from two stones from Karowe mine

The luxury brand’s new boutique at the Taj Krishna in Banjara Hills highlights its celebrated fine jewellery and global couture collections.

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Lucara raised $54m from the sale of two exceptional stones – weighing 1,080 carats and 549 carats – both recovered at its Karowe mine, in Botswana, it said this week. The 549 carat Type IIa Sethunya diamond was recovered in February 2020 and was sold to the French luxury maison Louis Vuitton.The 1,080 carat Eva Star, recovered in August 2023, was acquired by an unnamed buyer.

Canadian miner Lucara, 100 per cent owner of the mine, said it was “delighted” to announce details of the sales, now that final payments had been received and the goods had been delivered. It did not specify the price achieved by the diamonds individually, but said they’d sold for a combined sum of $54m and had recognized $44m in revenue net of fees, excluding royalties.

“The company received $20m in previous years and following this sale, a further $24m was due, of which $16m and $8m were received in Q4 2024 and Q1 2025 respectively,” Lucara said in a statement. “The sale of these two extraordinary diamonds further validates our investment in the Karowe underground project,” said William Lamb, president and CEO of Lucara. “The unique characteristics of Karowe’s kimberlite, particularly in the South Lobe, continue to amaze us with its ability to produce diamonds of exceptional size and quality.”

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DiamondBuzz

DE BEERS GROUP Introduces Desert Diamonds Icons

Supported by the Diamond Industry’s Largest Marketing Budget In 15 Years, Desert Diamonds Icons Will Launch Ahead Of The End Of Year Holiday Season and Build On The Desert Diamonds Campaign’s Success In Driving Natural Diamond Desire

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At the annual JCK Las Vegas Show – the largest jewellery event in the global calendar – De Beers Group today set out its view on the way forward for the natural diamond sector, calling on the trade to work together to capitalise on the early success of the Desert diamonds ‘beacon’ campaign with the introduction of Desert diamonds Icons.

The Desert diamonds beacon campaign launched in late 2025 and has already succeeded in shaping consumer demand for both natural diamonds in general and coloured diamonds in particular, with natural diamond sales at US independents increasing 4% in Q4 2025 and 9% in Q1 2026, while those in the K to Z colour range have seen even stronger growth, up 15% in Q4 2025 and 19% in Q1 2026.

Following the launch of Desert diamonds Bridal earlier this year, Desert diamonds Icons will focus on bringing a sense of newness and individuality to four iconic jewellery design classics – stud earrings, the eternity band, the tennis bracelet and the halo pendant – which between them comprise 70% of diamond jewellery acquisitions. Launching in September, the campaign will include training and marketing support for all retailers.

During a keynote presentation, De Beers Group executives stated that while demand has performed well for larger natural diamonds and this has supported stable retail sales value for natural diamond jewellery, it is critical for industry participants to work together on the campaign to drive demand across the natural diamond category as a whole.

With the campaign benefitting from the diamond industry’s biggest natural diamond marketing budget in 15 years, Desert diamonds is expected to deliver enhanced retail impact in 2026, based on a range of positive data points from its initial run. Growth in natural diamond desirability, online searches for natural diamonds, and increased coloured natural diamond sales across independent jewellers all highlight that the momentum behind the campaign is building. Noting that the 2026 campaign run will also benefit from a geo-targeting approach that directs consumers to specific retailers carrying Desert diamonds, De Beers executives encouraged the entire trade to support the fast-growing trend by stocking Desert diamonds Icons products and by signing up to Promoboxx to access marketing materials and participate in geo-targeting.

The presentation also included a summary of key consumer and industry insights published today in The Diamond Report, highlighting how commercial dynamics are evolving at pace for US jewellery retailers as the synthetic lab-grown diamond sector matures while consumer interest in natural diamonds grows.

Speaking at the presentation, Al Cook, CEO of De Beers Group, said:

“Consumer desire for natural diamonds is strong – but we need to work together as an industry in support of Desert diamonds to unlock the full value of the opportunity. The results from the campaign’s initial run demonstrate how it is already stimulating demand, and with Desert diamonds Icons we are doubling down at a critical moment.”

“The jewellery retail landscape is evolving at pace. With the sustained falls in price of synthetic lab-grown diamonds, and large falls in demand for larger synthetic lab-grown diamonds, there may be challenges ahead for retailers who focus on synthetic lab-grown diamonds.”

“However, with challenge comes opportunity, and the growing success of the Desert diamonds campaign is evident. As we head into the campaign’s second year, with the industry supported by the largest category marketing budget in 15 years, the natural way forward is clear to see.”

De Beers Group also reported in its presentation how collaboration continues deliver progress in other areas, with GIA’s purchase of an equity share in Tracr supporting the platform’s path to independence and providing the potential for it to scale faster across the sector.

Meanwhile, the Natural Diamond Council has put in place a compelling new strategy on the back of its growing budget, as more diamond producing countries and trade bodies have provided funding, and will introduce a new natural diamond trust mark to support consumer confidence through visible differentiation between natural diamonds and synthetic lab-grown diamonds.

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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

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