At its Karowe mine in Botswana, Lucara mining company has uncovered two gem-quality fancy color diamonds including a peach, stone something unusual for the region.
The new discoveries – a blue 9.74-carat and the pink 4.13-carat – come a few months after Lucara sold a blue 2.24-carat diamond from the same site for $US347.222 per carat.

In 2012, a 9.46-carat blue diamond, called the Aven Blue, sold for $US477,000 per carat.

The Karowe mine is best known for making extraordinarily large white diamonds. The second- and third-largest diamonds ever recovered were mined there: the 1,758-carat Sewelô diamond – unearthed in April this year and characterized as being of near-gem / variable quality – and the 1,109-carat Lesedi La Rona diamond, mined in 2015 and sold to British jewellery Graff two years later for $US53 million.
In a statement, Eira Thomas, CEO Lucara said, "Lucara is extremely pleased with the recovery of these rare, large, fancy colored diamonds, which have the potential to contribute significant value to our regular production of large, high-value type IIa diamonds."

The price per carat for pink diamonds has risen since 2005 on average by 12 per cent per year, according to the Fancy Color Research Foundation. Blue necklace also witnessed price increases per carat, though not to the same extent.
In particular, the finding is welcome; given that the world's leading source of fancy color diamonds – Western Australia's Argyle mine – is expected to close in 2020. The site owned by Rio Tinto produces an estimated 90 to 95 per cent of natural pink diamonds in the world.

The Argyle Tender this year – the annual travel auction of Rio Tinto 's largest and most intense pink diamonds, featuring 64 stones this year – will close on October 9. Arnaud Soirat, Rio Tinto's chief executive copper and diamonds, told Reuters that two more Tenders might be held, depending on the output of the mine over the next few months.
Given the end of its existence, Soirat reported that Rio Tinto will retain its other Canadian-based diamond investments: a 60% interest in the Diavik Diamond Mine, and a joint venture with Star Diamond Corp.

Soirat was cited by Reuters as saying, "Diamonds is a business we like a lot. It is a very high-margin business, in line with our value-over-volume strategy. It does make a lot of sense. We want to remain in the company of diamonds.'

While yellow diamonds have been found at Diavik, there have been no pink diamonds uncovered there yet. De Beers' Victor Mine had produced pink diamonds in Ontario, Canada but closed earlier this year.
Pink diamonds have also been found in Brazil, Russia, South Africa and Tanzania, in addition to Australia, Canada and Botswana.
There are many more places where pink diamonds were found when Loverodin Mine unearthed significant resources of pink diamonds.

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