Be The Change: The Positive Impact of Diamonds
April 23, 2018
Learn the Benefits of Ethical Diamond Mining
Diamonds are known as one of the world’s rarest and most valuable gemstones—but what else do we really know about them?
Diamonds are billions of years old—in some cases more than three billion years old! Diamonds are formed about 100 miles below ground and are composed of nearly 100% carbon. A diamond’s beautiful and rare crystalline structure is formed when carbon atoms bond in a unique way that results in a under immense heat and pressure far below the earth’s surface. Diamonds are coveted, revered and rare!
Lucara Diamond is a Canadian diamond mining company with a producing mine and exploration licenses in Botswana. They are a leader in the industry for their exacting standards of ethical diamond mining. Their mine, called “Karowe,” which means “precious stone” in the local language, was commissioned in 2012 and generates revenues of more than $200 million per year. The benefits of ethically mined diamonds are far-reaching, impacting local communities directly in addition to contributing to global economics. Lucara’s CEO Eira Thomas explains the company’s mission to not only recover some of the world’s most beautiful stones, but also make a global difference.
Contributions by Lucara and other reputable diamond producers can positively impact the communities in which they mine, exemplified by the progress made in Botswana. The impact Lucara makes is significant—through royalties, taxes, direct and indirect employment, socioeconomic capacity building and community investment—and in Lucara’s case, through direct contributions and the Lundin Foundation. Revenues from the diamond industry have played a significant role in transforming the countries in which they are mined. For example, in the approximately 50 years since diamond mining arrived, Botswana has transformed from one of the poorest in sub-Saharan Africa to one of the fastest growing middle-class populations in the world.
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