Botswana: Vancouver-based Company Sells Diamond worth $53 million

Image: Fortune

Botswana’s Lucara Diamond Corp. a diamond exploration and mining company based in Vancouver, recently sold its Lesedi La Rona diamond for $53 million, or $47,777 a karat, to Graff Diamonds, Lucara said Monday in a statement. The company is known for producing some of the world’s biggest and best stones.

The Lesedi La Rona, just smaller than a tennis ball, is second in size only to the Cullinan, a 3,106-carat gem found in South Africa in 1905.

The Lesedi La Rona or “our light” in the Tswana language spoken in Botswana last year was auctioned in London but wasn’t sold. It was expected to sell for about $86 million but was recently sold for $53 million due to the 24 percent decline in shares this year.

Lucara fell 1.7 percent to C$2.30.