DiamondBuzz
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.
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.”
DiamondBuzz
Natural Diamond Council and Dubai Jewellery Group Host a Successful ‘The Diamond Dialogue’ in Dubai
Industry leaders come together to discuss opportunities, challenges, and consumer trust in the diamond sector
Natural Diamond Council (NDC), a global not-for-profit organization collaborating the natural diamond industry and its entire value chain, hosted first-ever edition The Diamond Dialogue in partnership with Dubai Jewellery Group (DJG). The Diamond Dialogue was a thought-provoking industry roundtable that brought together leading voices from the UAE’s jewellery sector to discuss the evolving landscape of the natural diamond industry.
The session, held in Dubai, brought together key stakeholders, including retailers, industry leaders, and trade experts, for a candid exchange on the current challenges and opportunities shaping the diamond sector. Discussions centered on how the industry can better connect with today’s well-informed yet easily distracted consumer, ensuring that the emotional and enduring value of natural diamonds continues to shine through every interaction.
With the advent of lab-grown diamonds, experts reiterated that knowledge remains the cornerstone of trust and the strength of the diamond community. The dialogue emphasized the importance of clear and transparent communication, helping consumers understand that natural and lab-grown diamonds represent two distinct and parallel markets. Participants collectively agreed that honesty, transparency, and clarity must guide every engagement with consumers.
The session was moderated by Richa Singh, Managing Director – India & Middle East, Natural Diamond Council (NDC), and featured perspectives from Tawhid Abdullah, CEO, Jawhara Jewellery & Chairman, Dubai Jewellery Group; K.P. Abdul Salam, Vice Chairman, Malabar Group; Anuraag Sinha, Managing Director, Liali Jewellery; Chandu Siroya, Owner, Siroya Jewellers; and Amit Dhamani, CEO and Managing Director, Dhamani Group.
Our special guest, Mr. Ahmad Ali Moosa, Director of the Consumer Protection Department at the Dubai Corporation for Consumer Protection and Fair Trade (DCCPFT), offered a unique perspective on the importance of building a transparent ecosystem that prioritizes consumer trust and protection.

Commenting on the session, Richa Singh, Managing Director, Natural Diamond Council, “We’ve always envisioned The Diamond Dialogue as an open and honest conversation that leads to real action. Dubai has been the first market to embrace this initiative and to collaborate with us in moving the conversation forward. It’s inspiring to see industry leaders, retailers, and government stakeholders come together with a shared purpose, to strengthen trust, educate consumers, and shape a stronger, more transparent future for natural diamonds.”
Commenting on the session, Tawhid Abdullah, Chairman, Dubai Jewellery Group, “Dubai continues to be a beacon for the global jewellery trade, a place where innovation, integrity, and tradition converge. We are the most established jewellery market in the region and are thrilled to have NDC lead this important conversation. The Diamond Dialogue is an important step toward strengthening our collective voice and ensuring we uphold the highest standards of transparency and consumer confidence in natural diamonds.”

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