Lucara Third-Quarter Revenue Rose 19% to $61.1 Million on Sales of 113,227 Carats, Full-Year Guidance Raised to $140 Million to $160 Million
Lucara Diamond Corp. reported on November 13 its results for the quarter ended September 30, 2026, with all amounts in U.S. dollars. Revenue was $61.1 million, up 19% from $51.2 million in the third quarter of 2025, primarily driven by the sale of a 1,303 carat Type IIa diamond. The company sold 113,227 carats in the quarter, up 12% year over year.
Adjusted operating earnings were $32.8 million, compared with $29.2 million a year earlier, while net income was $6.6 million, compared with $7.4 million. By sales channel, revenue from HB was $48.5 million, or 79% of total revenue; tender revenue was $11.2 million; and Clara platform revenue was $1.4 million.
The company increased its 2026 revenue guidance to $140 million to $160 million, from the previous range of $100 million to $130 million, reflecting the contribution from the sale of the Motswedi and 1,303 carat Type IIa diamonds. President and CEO William Lamb said the third quarter was highlighted by exceptional diamond recoveries and strong revenue performance, demonstrating the quality and value of the Karowe resource, and that priorities remain operational excellence, safety, cost discipline, and advancing the underground project.
At the Karowe mine, 829,822 tonnes of ore were processed in the quarter at an average grade of 11.3 carats per hundred tonnes. A total of 96,767 carats were recovered, comprising 94,067 carats from direct ore feed and 2,700 carats from reprocessing historical recovery tailings. The mine recovered 163 specials, defined as stones above 10.8 carats, including the 1,303 carat diamond, a 316 carat diamond, and seven further diamonds between 100 and 200 carats. Operating cost per tonne processed fell to $22.41 from $25.65 a year earlier, and full-year unit cost guidance was revised down to $24.00 to $26.00.
The Karowe Underground Project absorbed $40.7 million of capital expenditures in the quarter, with remaining costs to complete, including contingency, of $245.2 million against a total estimated cost at completion of $779.2 million. Full-scale underground production is anticipated in the first half of 2028, extending the mine life to 2038. Lateral development advanced 466 metres in the quarter, bringing the project total to 2,121 metres. Cash and cash equivalents stood at $232.6 million at September 30.
Effective November 30, 2026, Naseem Banu Lahri will conclude her tenure as Managing Director of Lucara Botswana, continuing to support the transition through the end of the first quarter of 2027. The company will host a conference call on November 16, 2026, at 6:00 a.m. Pacific Time.
Source: Lucara Diamond Corp
Published by GSM · USA (original Chinese edition)
Photo: 图：产自非洲的天然钻石原石。来源：James St. John, CC BY 2.0，维基共享资源。 / Photo: Natural rough diamonds from Africa. Credit: James St. John, CC BY 2.0, via Wikimedia Commons.
CMA CGM Third-Quarter Net Profit Reached $2.32 Billion: Revenue Up 31.1% to $18.4 Billion, Container Volumes Up 5.5% to 6.5 Million TEU2026-11-14
Syntec Optics Third-Quarter Revenue Rises 23 Percent to Record 8.5 Million Dollars With Net Income Turning Positive at 246,574 Dollars and Space Tech Revenue Up 117 Percent2026-11-14