Country
Canada
Sector
Mining & Minerals
Intelligence Type
Corporate
Status / Stage
Active
Confidence
Confirmed
Latest Development
Lucara is operator of Botswana’s Karowe mine — one of the world’s most exceptional diamond deposits, producer of the Sewelô (1,758 carats, world’s largest gem diamond) and Lesedi La Rona (1,109 carats). The $547m underground expansion is underway, extending mine life to 2040+.
Company Profile
Company TypePublic
HeadquartersVancouver, Canada
Countries of OperationBotswana (Karowe 81%)
Founded2007
Websitelucaradiamond.com
Key ExecutivesWilliam Lamb (CEO)
Employees~700
Revenue~$250m (2024)
Key Developments
$547m underground expansion: shaft sinking ongoing (Murray & Roberts Cementation), first underground ore expected 2026-2027. IFC-financed. Partnership with HB Antwerp for high-value stone sales.
Key Risks
Underground shaft sinking is technically demanding. COVID-related delays have already occurred. Cost overruns typical in underground diamond development.
What Happens Next
First underground ore production (2026-2027).
Commercial Opportunity Intelligence
Opportunity SignalWorld's best source of exceptional large diamonds — Karowe extension to 2040 secures that position.
Commercial ReadinessCommercially Active
Source & Verification Trail
Last VerifiedAugust 2026
Source(s)Lucara Diamond quarterly reports; IFC project page
Source Date2025–August 2026