Lucara Diamond Corporation updated its resource estimate for the Karowe diamond mine in Botswana, resulting in a greater than $1 billion increase in the estimated in-situ value of the indicated mineral resource. The update was completed by Mineral Services Canada Inc. and took into account the mine's production of high-value stones since production started in April 2012.

William Lamb, Lucara's president, said, "The updated mineral resource for the Karowe mine reflects important changes based on the large amount of new information generated since the start of production at Karowe. The presence of exceptional stones within the center and south lobes is now appropriately reflected in the size frequency distributions and the modeled average price. In 2013, Lucara sold more than 438,000 carats of diamonds for gross proceeds in excess of $180 million. Included in these were 23 diamonds that each sold for over $1 million, including nine diamonds which sold for more than $3 million each. The updated resource estimate is further supported with the ongoing recovery of special diamonds, with more than 70 stones larger than 10.80 carats being recovered to date in December. Since the start of mining in the center and south lobes in March, more that 600 diamonds larger than 10.80 carats have been recovered."