The Canadian miner processed 2.9 million tonnes of ore over the year, surpassing the 2.8 million tonnes processed in 2023. A standout achievement was the recovery of 807 "specials"—diamonds exceeding 10.8 carats—compared to 602 in the previous year. These large stones made up 7.6% of total recovered carats, a significant rise from 5.3% in 2023.
Among the exceptional finds were the 2,488-carat Motswedi and the 1,094-carat Seriti diamonds, both recovered from Karowe. The Motswedi, discovered in August, is the largest diamond unearthed in the last century. Named after the Setswana word for "water spring," it symbolizes life and renewal. The Seriti, found in September, translates to "aura" or "presence," reflecting its cultural significance.
The momentum has continued into 2025, with Lucara announcing the recovery of a 1,476-carat non-gem diamond in January.
Lucara reported a robust financial performance, selling 399,215 carats in 2024 and generating $203.9 million in revenue—an 18% increase from the $172.4 million recorded in 2023.
"Our world-class Karowe mine continues to push boundaries," CEO William Lamb said in a statement. "With the recovery of our seventh 1,000+ carat diamond, we reaffirm our position as a leader in the industry."
Lamb also noted steady progress on the mine’s underground expansion, with shaft sinking marking a critical milestone. The project is on track for commercial production in early 2028.
Since operations began, Karowe has yielded some of the world's most extraordinary diamonds, including the 1,758-carat Sewelô (2019), the 1,109-carat Lesedi La Rona (2015), and the 813-carat Constellation (2015). It is also credited with producing Botswana’s largest fancy pink diamond, the Boitumelo.
Karowe remains one of the highest-margin diamond mines globally, consistently delivering approximately 300,000 high-value carats annually.