Lucara Diamond Corp. reported higher sales and earnings in the second quarter, buoyed by the sale of a 1,094-carat rough diamond from its Karowe mine in Botswana to HB Antwerp for an initial $12 million.
Revenue for the three months ending June 30 rose 6% year on year to $41.3 million, while net profit increased 5% to $12.5 million, the miner said. The performance was driven by its supply agreement with HB Antwerp, under which all diamonds weighing 10.8 carats or more are sold directly to the Belgian manufacturer. Sales from this contract climbed 15% to $34 million.
Among the standout stones was the 1,094-carat Seriti, recovered in September 2024. Under the deal, HB will also pay Lucara a share of profits from the polished output. The quarter saw a 17% increase in large-stone recoveries, totalling 242 diamonds above 10.8 carats, including 15 over 100 carats and two exceeding 200 carats.
Revenue from Lucara’s Clara online platform slipped 15% to $7.8 million, while tender sales fell 27% to $1.9 million. Overall production reached 85,024 carats, comprising 82,555 from direct ore and 2,469 from tailings.
Lucara also recently recovered a 2,036-carat near-gem-quality diamond — the third-largest rough ever recorded and the second-largest from Botswana.
For the first half of 2025, sales declined 8% to $74 million, but net profit more than doubled to $12.4 million from $5 million a year earlier.