GABORONE, Jan. 16 (Xinhua) -- Lucara Diamond Corporation on Thursday announced that it has entered into collaboration with Louis Vuitton to polish the historic 1, 758 carat, Sewelo, Botswana's largest diamond.
In a press release, the Canadian diamond mining company with a producing mine and exploration licenses in Botswana, announced that it has entered into collaboration with the famous French luxury house and a diamond manufacturer from Antwerp to manufacture the diamond discovered from its 100 percent owned Karowe Diamond Mine in Botswana in April last year.
Sewelo, which means "rare find" in the local vernacular, Setswana, is the second over 1, 000 carat diamond to have been recovered from Karowe in four years and largest ever recovered in the southern African country.
According to the statement, the purpose of this unprecedented collaboration between a miner, a cutting edge manufacturer and a large luxury brand will be the planning, cutting and polishing of a collection of diamonds from Sewelo.
Lucara will receive an upfront non-material payment for the Sewelo and retain a 50 percent interest in the individual polished diamonds that result, said the company in a statement.
Furthermore, 5 percent of the retail sales proceeds generated from this historic collection will be invested directly back into Botswana on community-based initiatives undertaken by Lucara, reads part of the statement.
"We are delighted to be partnering with Louis Vuitton, the famous luxury house, to transform the historic 1, 758 carat, Sewelo, Botswana's largest diamond, into a collection of fine jewellery that will commemorate this extraordinary discovery and contribute direct benefits to our local communities of interest in Botswana," Eira Thomas, the president and chief executive officer of Lucara Diamond Company, said.