Canada’s Lucara Diamond has announced the recovery of a 1,094-carat rough diamond from its Karowe Mine in Botswana.

The company noted that this find is the second of such magnitude this year, following the 692-carat stone recovered in August 2023.

Lucara confirmed that this latest discovery will also be polished by HB Antwerp.

The 1,094-carat diamond is noteworthy for its size and quality, bearing a striking resemblance to its predecessor, which after polishing, yielded diamonds that collectively sold for more than $13m.

Lucara said that its consistent recovery of large, high-value stones from the EMPKS ore type in the South Lobe of the Karowe Mine has solidified its reputation as a top producer in the sector.

The company's track record is further enhanced by this being the sixth stone exceeding 1,000 carats to be unearthed.

The Karowe Mine's South Lobe is renowned for these large, high-quality diamonds, which are a testament to the unique characteristics of the Karowe ore body.

Lucara's recent successes are in line with its underground expansion project, which aims to extend the life of the Karowe Mine well beyond 2040.

The design of this expansion is specifically targeted to access deeper parts of the South Lobe, where the EMPKS ore type, known for these exceptional finds, is prevalent.

Lucara president and CEO William Lamb said: “The recovery of this exceptional 1,094-carat diamond is a testament to Karowe's remarkable potential and further validates our investment in the underground expansion project.

“These continued discoveries of large, high-value diamonds demonstrate the consistent quality of our resource and its ability to deliver substantial returns.

“As we progress with our underground development, we're increasingly confident in Karowe's capacity to produce these legendary diamonds well into the future, cementing our position in the high-end diamond market.”

Last month, Lucara Diamond extracted a 2,492-carat diamond from the Karowe mine.